Data Analysis in Customer Strategy
Data analysis simply extracts information and insights from data to
enhance human decision-making. Providing solutions through data insight
into customer success will help customer success managers understand
more about customers. The customer success team can now ask the right
questions to customers with data backed methodology. This allows customer success team to -
- Identify customer status
- Predict customer behavior
- Classification of customers
- Identify customer churn patterns
- Use customized customer retention solutions
3 Ways Data Analytics Helps Customers Success
Understand customer behavior
With the help of data tools, customer success teams can better
understand customer actions and intent. What drives them to take
certain actions, respond to realization, etc. This can help build a deeper relationship.
Causes of Customer ChurnTo prevent customer churn, understanding why it arises is important. To find the underlying reason why customers leave the SaaS product or service, data can help. With historical data, models can be built to predict churn via algorithms, predictive analysis, or preventive analysis.
With data based approaches, companies can segment their
customers based on product purchase, demographic information, gender
etc. CSM teams can focus on high value segments to maximize returns.