Using Data to Manage Clients Better in 2017

Technology has been useful over the years for empowering customers. Many observers had predicted that the “empowered customer” claim would be applied for the year 2014, but this extended to 2015 and 2016. Breaking away from this stagnant trend might be a bold move to make marketing better in 2017. The use of technology will enable business to customer (B2C) and business to business (B2B) services improve in 2017. Customers will be more empowered, and businesses will be able to manage clients in a more flexible and intelligent way. Empowerment will not only be focused on clients, but it will flow both ways to give businesses the ability to provide better services.

While many predictions indicate that 2017 will see customer experience and management become revolutionized by artificial intelligence (AI), there’s likely to be some risks involved. It’s good to go slow about AI technology because these are just tools controlled by human beings. The success of this technology will depend on the people controlling the AI tools. Regardless of the kind of technology you have invested in your business, the personnel you have is still a crucial factor in customer management.

The Improvement of Predictive Analytics

Most businesses are investing in ways that will enable them understand and serve their customers better. Predictive analytics enable companies to anticipate different market trends. It becomes simpler to target customer preferences in a more accurate way when you have sufficient information about the future. Customer Relationship Management (CRM) will not only be about compiling customer statistics, but it will try to fulfill the customers’ needs at a more personalized level.

Once a company is able to divide its clientele into simpler segments, it becomes easy to send relevant information to each client. The company is able to do objective marketing that is tailored for a given market segment. If the customer has a problem, the information will be sent to the specific department that is responsible for such issues.

Using Technology to Learn the Customer’s Journey

Machine learning is another important characteristic of AI that is likely to improve understanding between a business and its customers. Traditional models have not been very effective because they portray the customer’s journey as linear, overwriting the fact that there are other things that determine client preferences. Machine learning enables companies to identify all the factors that affect the customer’s decision-making process. When this data is compiled, the business can predict the future and improve services.

Mobile Office to Replace Office-Based Working

Mobile working has increased efficiency because people can work even when they are traveling. Businesses are likely to embrace more mobile offices in 2017 as they try to maximize on the time they have. All odds point towards human dimension becoming extinct in the business sector. People should, therefore, try to incorporate a more human perspective to their businesses, instead of literally replacing people with machines.

 

from Finance Girl http://www.financegirl.co.uk/using-data-to-manage-clients-better-in-2017/