Mapping the customer journey across industries and user base can get very complex. This includes mapping feedback at omnichannel touchpoints (across campaigns, website pages, support calls and live chats etc). However, with a streamlined customer journey analytics dashboard, this exercise need not be so daunting.
What is Customer Journey Analytics?
A customer journey is the journey a customer takes from first interaction up until the post-purchase phase. The journey can be longer depending on type of product and industry. Mapping and analysing this journey is called customer journey analytics. The analytics offers data-driven metrics, statistics on conversion rates, drop off rates and other critical information.
What is a customer journey analytics dashboard?
A customer journey analytics software is a tool that tracks to improve conversion rate, detect complaint tickets, identify positive reviews and more. It gives businesses an overview of customer data, user behavior and satisfaction metrics. A dashboard will compile data from across websites, customer feedback surveys, product feedback, Google testimonials and ad campaigns. These critical insights provide relevant information for continuous business growth.
Benefits of Using Customer Journey Analytics Dashboard
Refine CX protocols at every stage of the sales cycle. This reflects on churn rate, renewal rates or converting passives to brand advocates.
1. Maps customer retention rates:
The dashboard gives a critical overview of pain points and where the complaints stem from. It provides details about most active touchpoints, product usage, satisfaction on service and happy customers. It showcases internet testimonials and collects survey feedback data in one place.
2. Aligns marketing teams to reduce churn:
High churn rate is a common challenge for businesses, but customer journey analytics dashboards can help alleviate this issue. Marketing teams and sales departments can collaborate over this dashboard. It analyzes customer behavior that contributes to churn and provides insights for churn reduction strategies.
3. Helps make data driven decisions:
The dashboard provides information on various touchpoints that drive results or underperforming touch points. With this data, companies can allocate resources and reduce budget leak. A combination of qualitative and quantitative insight can empower professionals to make clear cut decisions.
4. Improve CX protocols to increase renewals:
People are drawn towards memorable CX, support conversations, timely and prompt responses/solutions. However, people are segregated based on metrics such as detractors, promoters and passives, segmented based on sentiment analysis. The customer journey analytics dashboard can enable support teams to spring into action and uphold the brand’s online reputation. This in turn will bring in more buyers and increase renewals from existing patrons.
Difference Between: Customer Journey Mapping and Analytics
Customer journey mapping visually represents the customer journey at multi channel touchpoints. It can detect pain points, happy or unhappy customers. When mapped over a dashboard, it provides a holistic view of the customer experience. It contains qualitative research from feedback surveys, interviews and subjective observation.
Customer journey analytics uses customer journey mapping for reference. The method used contains quantitative analysis using data mining, testing and statistics. It tracks information over conversion rates, points of churn or high churn risk and customer behaviour trends and patterns.
Both approaches are relevant and related but serve different purposes in understanding and improving the company CX.
Which approach is suitable for your business?
It depends on your business needs. This includes your business goals, available resources, and the specific insights. For a visual representation, a well-equipped customer journey mapping dashboard may be more suitable.
However, if you are looking for data analysis and gathering insights from customer behaviour, a customer journey analytics tool is useful. It can provide deeper insights into pain points, response urgency, sentiment analysis and campaign effectiveness.
3 Uses of a Customer Journey Analytics Dashboard
Customer journey mapping and customer journey analytics work in tandem.
Use case 1: Identify data sources from various touchpoints:
It can identify relevant sources for customer data. This includes feedback on satisfaction metrics (CSAT, NPS, CES). Data sources also include social media conversation, website chatbot conversations, calls from support teams or live chat and website CRM insights. This information empowers the marketing and sales department, product development team and customer support teams to collaborate. There are ways to compile this information without much manual handling. However, some metrics still might need manual intervention and are time consuming.
Use case 2: Determine relevant key performance indicators:
Determine key performance indicators (KPIs) aligned with your customer journey mapping goals. Marketing professionals along with other department members, must decide relevant key performance indicators and metrics to track/ improve. This takes into consideration risk of churn, identify conversion rate against drop off rates, sources of website visitors, assess marketing funnel and history of sales cycle.
Use case 3: Capture points of friction during data visualization:
The customer journey dashboard is a well-equipped tool that gives an overview of high friction points, drop off metrics and conversion rates. When teams can capture high risk leads, they can take necessary steps to optimize their offerings. A high churn rate can reflect poorly on the performance of the customer support teams. These are critical points to view since business growth is highly dependent on retention and renewal rates.
Conclusion
Optimize resource allocation, track high to low performing touchpoints, identify customer sentiments and satisfaction scores using customer journey dashboard analytics. Improve customer retention rates , prevent churn rates and make informed decisions based on this dashboard data. The Merren customer journey dashboard can change the way you track crucial consumer metrics. Sign up for a 14 day trial with Merren.