Customer journey analytics are a critical resource for growth-focused teams today.
Actionable insights generated from customer behavioral and engagement data in analytics tools. That’s what enables companies across industries to make better, data-driven decisions.
Decisions that will impact just about every facet of (and team in) their business.
Not just for marketing, but also data science, analytics, and customer service.
To make important decisions that help drive business growth and transformation, though, you must first connect all first-party customer data sources across your brand’s tech stack.
Unifying data won’t just help you better understand your target audience. It’s also your key to improving the customer experience. (And, in turn, realizing better business outcomes.)
And there’s one type of tech in which you can efficiently analyze and act on your customer journey analytics when and where you need: a customer data platform (CDP).
Customer journey analytics: Your key to unlocking revenue and improving ROI
Customer journey analytics helps companies “track and analyze customer interactions, making it easier for enterprises to identify and act on complex [CX] issues across the customer journey,” marketing expert Adam Rubin wrote for CMSWire. Put another way?
Journey analytics show you the specific touchpoints prospects and customers interact with throughout the funnel. (Ending with their eventual purchase or subscription.)
This buying ‘path’ will align somewhat with customer journey maps based on your personas. But, at the end of the day, each individual’s buying journey will be entirely unique.
Your customer journey analytics solution likely includes data for hundreds of thousands (or maybe even millions) of events. From website visits and email opens to items bought.
As BlueConic COO Cory Munchbach wrote for CMSWire, marketing can take advantage of this data with the right approach. Specifically, customer lifecycle orchestration.
Lifecycle orchestration is the next frontier of marketing. It helps brands ‘meet’ individuals in their distinct journeys with highly relevant, well-timed messaging across touchpoints.
The primary goals of this modern approach? Most notably, to:
- Turn prospects and one-time buyers into loyal customers.
- Ensure consistent customer satisfaction for these individuals.
- Develop more profitable, long-term customer relationships.
Ultimately, though, this approach is meant to accelerate business growth. How? By helping marketing scale and streamline its engagement efforts and, in turn, realize better outcomes.
But, before adopting this approach, Cory noted marketers need to recognize a simple truth:
“Marketers and their teams own ongoing customer lifecycle management. Customers — and only customers — own their individual decision journeys.”
Implementing a customer-centric, lifecycle marketing strategy might sound daunting. Especially if you’re entrenched in campaign-centric engagement programs and activities.
But it’s the only path for companies to improve their tactical metrics (e.g, reduce churn, increase customer lifetime value) and their strategic metrics (e.g., operational efficiency).
Integrating customer journey analytics into a unified, single source of truth
The best tech for lifecycle orchestration based on your customer journey analytics? A CDP like BlueConic that offers built-in capabilities that enable real-time, cross-channel marketing.
The beauty of a CDP — specifically, our CDP — is you can connect all tools in your stack to the platform and utilize data from those disparate systems to enhance engagement.
Customer relationship management (CRM) software, data management platforms (DMPs), adtech solutions, and other popular tech can all capably sync with our CDP.
This unified first-party data is what empowers growth-focused teams to easily access customer journey analytics and utilize those insights to evolve their customer interactions.
Specifically, they can begin to share hyper-personalized social media ads, emails, on-site dialogues, and other messaging to the right individuals at the right place and time.
Franklin Sports uses BlueConic as its de facto customer journey analytics platform. And it has mastered lifecycle orchestration thanks to unified data and rich audience insights:
- When getting started with BlueConic, the company began categorizing prospects and customers based on interests for its top-selling products.
- The business then turned to our Segment Overlap Insight. This helped it identify commonalities among buyers who were ‘Cold’ (no site visit or purchase in last two months), ‘Hot’ (visited site in last month, but hadn’t bought anything) and ‘Very Hot’ (visited site in last week and didn’t buy, but ‘session quality’ was high).
- With this journey analytics data, the Franklin team was able to map shoppers to the corresponding Lifecycle. That meant it could send specific audiences to AdWords, Mailchimp, Facebook, and other activation tools to target them applicable messaging.
- The company later pushed this Lifecycle data to Google Tag Manager so it could see if the ‘Cold’ audience included bought more compared to members of the segment not added to the Lifecycle in question.
Each organization’s Lifecycle goals, structure, and execution will look different.
Suffice to say, the way in which Franklin Sports leverages our lifecycle orchestration capability is one that continues to yield strong returns regarding its engagement efforts.
And perhaps a strategy worth emulating for your business.
Relying on a pure-play CDP as your main customer data analysis solution
Odds are you have a traditional customer analytics tool in your stack. And you’re right to want one. After all, it helps many companies track individual customers’ ‘micro moments.’
But the tool is just that: a solution in which to analyze audience data. That’s it.
When you have a CDP that persistently updates customers’ profiles, updates related segments dynamically, and enables real-time analysis, modeling, and activation, your legacy journey analytics platform suddenly becomes redundant.
That’s not to say it needs to be ditched entirely.
But, given its capabilities pale in comparison to pure-play CDPs like BlueConic, you’re far better off using the latter for your customer data analysis.
And with lifecycle orchestration capabilities to boot, it’s clear the tech can streamline and scale your marketing efforts. (Not to mention those of other growth-focused teams too.)
Watch our on-demand webinar to find out how you can benefit from our pure-play CDP’s lifecycle orchestration and journey analytics capabilities.