What is Customer analytics?
Customer analytics is the process that gives organizations to have a deeper knowledge about the customer behavior which can be used to make business decisions. Customer analytics helps to convert your data on customers into something which is of value to the organization. It converts your data into a marketing tool which will help to turn all your obstacles into opportunities. Customer analytics serves as the backbone of all marketing activities such as predictive modelling, data visualization, information management and segmentation.
Importance of customer analytics
The use of Customer analytics is becoming more important in today’s world. This is because the customers are becoming more powerful and more connected than ever. Customers are now armed with lot of information and they have access to information anywhere and anytime. This makes organization use customer analytics. Customer behaviours are changing rapidly in today’s world. If you understand the customers buying habits and their behavior then you can predict the future customer behaviour which will help you to launch relevant products at the right time to the customers. This will also increase the profit of your business.
Benefits of customer analytics
- Customer analytics will help you to increase the response rate
- Customer analytics will lead to increased customer loyalty and thus in turn it increases the return on investment
- Customer analytics reduces the campaign costs of the organization by targeting the right customers at the right time
- It will help to decrease the attrition rate by predicting the customer’s expectations and delivering the exact product to them.
- Segments the customers more effectively and helps to understand the customer’s better.
Customer Analytics Course Objectives
At the end of this course you will be able to
- Understand how data is used to find out the customer behaviour
- Find out what are the best practices for using the data to create more effective business strategies
- Find out the success rate of the business strategies using the current data
- Track the customer’s needs and deliver what they expect at a right time
- Make better business decisions about data related to customers of your business
Pre requisites for taking this course
The people who are taking this course should have problem solving abilities and a keen passion to learn.
Target audience for this course
This course is meant for marketing managers, data managers, business development managers, data analysts and IT managers. People who have keen passion towards learning customer analytics can also take up this course.
Customer Analytics Course Description
Section 1: Introduction
This chapter includes overview of customer analytics, what is customer analytics, importance of customer analytics, what can you do with customer analytics and how it can be used in your organization.
Section 2: Basics of Customer analytics and Customer Life cycle
What is customer analytics
Customer analytics helps to unlock details about the customers and expand your business which will in turn increase the return on investment. This section covers a brief introduction to Customer analytics, why is it used in companies, how it is used in organization and what are the pros and cons of Customer analytics.
Customer Life cycle
Customer Life Cycle is used to explain the progression of steps a customer pass through while purchasing or considering to purchase a product or service. This cycle is depicted as an eclipse and the customer should pass through this customer life cycle again and again in order to achieve the company’s goal. This section includes explanation for the term customer lifecycle, introduction to the customer life cycle and calculation of the customer lifecycle value (CLV). The other topics covered under this section includes the following
- The classic view of the customer life cycle
- Customer lifetime value measurement
- Return on the Customer lifetime value
- CRM and customer equity perspective
Section 3: Customer Onboarding
What is Customer Onboarding
Customer Onboarding is the process of acquiring new customers to an organization in an more effective way. It is the most effective sales strategies used by most of the banks and credit unions to improve their customer relationship. This chapter includes the following topics
- Definition of On boarded customer
- Elements of customer Onboarding
- Tactics to onboard and engage new customers
- Customer Onboarding process
- Secret to successful customer Onboarding
- Frequent customer Onboarding mistakes to be avoided
Customer On boarding process for a typical bank
Customer Onboarding is a process which helps the banks to accurately get customers faster. This chapter explains the steps for successful Onboarding in banks that will lead to best in class implementation. The steps are given below
- Appoint a Program leader
- Include all new account openers
- Acquire the right households
- Collect insights from day one
- Communicate with the new account holder early
- Connect with the new account holder often
- Personalize dialogue
- Start with a simple Thank You
- Build engagement before selling
- Don’t forget your brand
- Provide personalized offers
- Start you communication with Snail mail and Email
- Integrate all possible channels
- Leverage your local presence
- Build custom jump pages
- Integrate video as engagement tool
- Maximize digital retargeting
- Selling on mobile
- Measure results
- Test and learn
- Don’t try to boil an ocean
The section also includes the uses of customer Onboarding and the benefits of customer Onboarding in banks.
Section 4: Customer Activation
What is activation and why is it necessary
Customer activation helps to motivate the customers to move on to the next stage of the customer lifecycle faster than before. Customer activation will help you to find out
- Whether your current marketing is towards the target
- Whether there is a need to rearrange your budget plans
- If there is a need to improve your team’s effort
- How to move customers towards your goal
The other topics covered under this section includes key principles of customer activation, Why to use customer activation software, tactics to get started with customer activation, benefits of customer activation and measurement factors of customer activation
The importance of customer activation
Implementing a proper customer activation will help to increase the amount of repurchase of the customers, strengthen its relationship with the customers and acts as a effective means of marketing. This topic covers all the reasons why customer activation is considered important in organizations. It also contains case studies of customer activation.
Section 5: Cross Selling
What is cross sell and why cross sell
Cross selling is one of the best marketing strategy which suggests related or complimentary products to a customer. It is the easiest method of marketing. Here you will learn the definition of Cross Selling, advantages of cross selling, tips for successful cross selling, effective cross selling tactics and the importance of cross selling.
How do we cross sell effectively
This section contains the tips to make cross selling effectively. The topics included are
- Know your customers before cross sales
- Sell only relevant items
- Make your cross selling offers sound natural
- Estimate your operational costs
- Combine this tactic with other marketing strategies
- Bundle products
- Use on product copies of cross selling offers
This section also includes the Importance of cross selling for banks and Non financial institutions and its case studies.
An upsell is the marketing strategy which makes the customers to spend more money by purchasing a more expensive model in the same category of product or get an added feature to the purchased product. This section includes the following topics
- Definition of Upsell
- What is upsell
- Why upselling should be used by organizations
- Techniques used in upselling
- Difference between cross selling and upselling
- Benefits of upselling
- Advancements in the field of upselling techniques
- Examples and case studies of upselling
Section 6: Campaign Life Cycle
Campaign Life Cycle Transition to Lead Management
This section covers the topics what is customer lifecycle marketing, steps to manage the customer lifecycle marketing, steps for successful marketing campaign and elements of campaign lifecycle
Stages of campaign
This section contains the stages of campaign lifecycle explained under the following headings
Execution of campaign is one of the important stage in the process of campaign lifecycle. The execution should take place at the correct time frame. It something is not executed at the right time then it will be a loss for the business. This chapter contains the following headings
- The campaign lifecycle
- Execution phase
- Hurdles faced in the execution stage
- Tips to overcome the hurdles in the execution stage
There are different type of channels available to do your campaign activities. But you should select what is best for you and for your organization. The channels included in this section are listed below
All these channels are explained in detail and a case study or example is given for each channel.
Campaign assessment will help you to know whether the campaign worked out well or not, were the expectations of the participants met out or not and other related questions. Campaign assessments can be classified based on their purpose. There are five types of campaign assessment which are explained in detail under this chapter
This section also includes Things you need to know about campaign, Experimental trials and Random controlled trials and examples for evaluation of a campaign.
This section gives a brief conclusion to the topic customer analytics. It tells us how important is it to use customer analytics in today’s world, what will be the causes if you don’t use customer analytics in your organization, what are the uses of customer analytics in your business, what will be the next stage of customer analytics and how are the technological advancements in the field of customer analytics. It also gives you a list of the popular customer analytics tools or software that can be used for your organization.
FAQ’S General Questions
- What do I need to know about the topic before enrolling in this course ?
There is no prior knowledge or experience required to undertake this course. Anyone who is interested in learning how to make decisions in their business using customer data can take up this course.
- How long does a course run ?
The course duration depends on the topic. The details for each individual course is posted in the course details
- Is an online degree gained equal to the degree gained or knowledge gained through classrooms ?
Of course online courses are equal to classroom degree programs. They provide the same amount of contents and dedication as it is in the classrooms.
This Customer Analytics Course is very excellent for conceptual and theoretical understanding of customer analytics. Practical examples of customer analytics are also given for easy understanding. This is the best course for individuals in understanding the customer analytics better than any other online course. It will help you to apply what you have learned from this course to your own business.
This is the best course in customer analytics I have ever attended. The examples are amazing and makes you easily understand. The contents are excellently made and explained. The course itself is engaging. It gives best level of competence in customer analytics.
This course gives the basics of customer analytics with all the important features along with good examples and case studies. The course material is so simple and easy to understand. It gives you enough content for decision makers who wants to understand about the implementation of customer analytics. This course is definitely recommended for middle management and executives who just want to brush up on the basic features of customer analytics.
|Where do our learners come from?|
|Professionals from around the world have benefited from eduCBA’s Customer Analytics courses. Some of the top places that our learners come from include New York, Dubai, San Francisco, Bay Area, New Jersey, Houston, Seattle, Toronto, London, Berlin, UAE, Chicago, UK, Hong Kong, Singapore, Australia, New Zealand, India, Bangalore, New Delhi, Mumbai, Pune, Kolkata, Hyderabad and Gurgaon among many.|