Customers have long known that companies gather their data—for example, when they use a shopper’s club card, accept cookies on a website, or provide an email address to download a report. The difference with today’s consumers: They expect businesses to use that data to personalize their experience and make improvements. That expectation is particularly high among millennials and younger generations.
There’s also a greater focus on not only data ethics and data rights but also data empowerment, which involves making data accessible to everyone, not just large organizations and powerful people.Disclosure 6 These tips can help guide your data collection, data mining, and data analytics.
Make sure your data collection is inclusive. Consider whether your process is leaving some groups out of the conversation. For example, people with limited access to computers or smartphones may be missing out on services, surveys, and perks. Remember that diverse team you gathered for planning? Invite them to weigh in on the language used in surveys and other tools to ensure it’s unbiased and easy to understand.
Let customers take part in data monetization. Data monetization involves making money from data either internally by using it to make improvements or externally by selling the data or insights from it. In addition to providing customers with better goods or services, you can offer rewards points, store credit, or other perks for their participation.
Regularly reevaluate methods and usage. As your business objectives change, so should your data collection. If you’ve divested yourself of an international arm of your business, consider if you still need to collect data about its operations. Looking to go global? You may want to delve into additional areas of customers’ lives, such as where they vacation or what they prefer to buy overseas.
Finally, think about reporting on improvements you’ve made as a direct result of customer feedback. Many clients enjoy helping build and strengthen a brand they love.
In the end, it all comes down to finding the right balance of high tech and high touch. As customer needs continue to evolve, pay attention, stay agile, and continually develop new ways to serve your clients—and you’ll be well on your way to creating a memorable customer experience.