There’s been a lot written recently regarding marketing leaders’ role in Customer Experience. Whether it’s the migration of the CMO title to a Chief Experience Officer / Chief Customer Officer, or a less formal move like CMOs taking responsibility for CX-related initiatives, there are clear signals that a shift is beginning to take place. Marketing and Customer Experience are becoming inextricably linked – and for good reason.
It’s widely well-known that it’s significantly more expensive to acquire a new customer than it is to retain an existing one. According to Bain & Company, increasing customer retention by 5% results in a profit increase of 25%-95%. Smart CMOs understand that marketing to the base has a higher ROI than marketing to the public. That said, CMOs clearly have to do both. But where can a marketing organization obtain insights about current customers that it needs to market effectively to them, while also learning how to attract more new customers?
Now more than ever, CMOs need to turn to an often-neglected treasure trove of data: the contact center. Consider all the different ways that customers interact with businesses… phone, chat, email, in-app chat, SMS, and more. Customers are telling companies exactly what they need every single day, across every one of those channels. Surveys and social media, long considered the primary source of customer insights, pale in comparison on the criteria of both volume and contextual detail. Ever read the verbatim comments on surveys or social? Not a lot of qualitative data in there for the analysis and discovery of root causes. So why haven’t CMOs considered contact center data as a primary data source?
Until recently, the available technologies didn’t give companies the capability to look comprehensively at those customer interactions. It was simply too hard to normalize all that disparate data for unified analysis. Further, the analytics modules included in each of the channel point solutions left much to be desired. The analytics that were available were more focused on improving call center productivity than providing customer-centric insights. You can’t really blame CMOs for turning to more easily accessible data – even if it was less insightful.
With the maturation of technology that Forrester calls “agnostic aggregator” solutions, CX analytics providers like Topbox can pull all those omnichannel customer interactions together, normalize them, classify them, and make the insights available to marketing teams with a few clicks. Sentiment and specific issues at the brand level, the product level, and the support function level are all available. Moreover, that interaction data can be paired with the survey and social media data (remember, solutions like Topbox are true agnostic aggregators, so that includes surveys and social media). Imagine seeing a trending issue on social media, and being able to tap into millions of phone recordings, chats, emails, etc. around that same issue to look for the root cause details needed to take action. With Topbox, it’s just a few clicks away. That’s the power of omnichannel CX analytics.
CMOs and their marketing teams have been using surveys and social media as the primary source of customer insights for far too long. It’s time for them to get to know their contact center leaders, and more importantly, the data that they’re providing.