Using business intelligence is one of the main ways to succeed in business strategies. And don’t doubt it: knowing the customer is the primary input for analyses that provide vital information for assertive decision-making.
A company that has already understood the power of this type of knowledge is Netflix. Today, it “doesn’t do anything” thanks to its ability to offer solutions tailored to its customer’s expectations. Is there anything better, in a consumer relationship, than when we are surprised by a company that strives to anticipate and offer us something that matches our needs exactly?
Exercising empathy and putting yourself in the customer’s shoes is vital so that sensations like this, experienced on the consumer’s side, are simulated by the company so that it knows exactly which direction to take and go to meet its customer.
Netflix is an emblematic example of this ability to delight customers by deeply understanding their characteristics, pain points, desires, and expectations. One result is the ability to provide personalized suggestions every time the platform is accessed.
With each choice, the site “learns” a little more about the user’s profile and enriches its database, so that information analysis intelligence presents more correct options.
Getting to this point is not easy, but with competitive intelligence techniques and tools, it is possible to combine relevant information about the customer experience and transform them into engines for transforming business strategies. Learn more about it in today’s article!
How Does Business Intelligence Work In Practice?
Knowing how to feed on customer data to direct your focus is a strategy that requires technical support. Today there are plenty of tool options capable of collecting, grinding, and combining data that generate reliable analyzes of a given context.
We are talking about Business Intelligence (BI), Big Data, Fast Data, Data Fusion, Artificial Intelligence, and Cognitive Computing solutions. With specific characteristics and applications, they have in common the fact that they have input data extracted from user interactions in different virtual environments.
When combined, these technologies offer incredibly efficient management tools, allowing for an accurate picture of the behavior and propensity to consume customers.
The intelligence of these technologies is mounted on complex algorithms built from variables such as, in the case of Netflix, tags related to the film’s genre, characteristics of the work (time of recording, characters, cast, soundtrack), and history of last accesses of the user.
This is the “cat jump” of the strategy: all user behavior is captured. Read synopses and gave up watching the entire program? Did you access a lot of comedy or drama synopses? How many series does it follow? What is the rating given in the star rating dynamics?
No click escapes the “eyes” of the platform because they are the ones that give feedback on the assertive content offering strategy according to the customer’s profile. The new Netflix series, Stranger Things, proposes references to extraterrestrials and classics that have always conquered the public. And then there is a question: where do the ideas come from to produce something so expensive and know that this type of product will please the public?
Innovative companies such as Netflix “don’t give a damn” and certainly use the technologies mentioned in this post to structure themes and scripts that tend to go viral and become known and even applauded worldwide.
For example, the target audience was meticulously mapped to build the scripts for Stranger Things. With that, it was possible to put several references in the same basket that appealed to the audience.
This is the successful formula for initiatives by companies such as Netflix and Facebook — another expressive example of optimizing the business based on customer knowledge. Thanks to this capacity, the social network has become the largest collaborative platform in the world.
The so-called timeline (timeline) of each user on Facebook is made up of publications (or posts) that “coincide” with the user’s interest. In line with the Netflix algorithm, programming is based on the network member’s behavior.
Liking and following profiles, choosing which profiles you want to see first, determining what type of posts you replicate most, and listing keywords that define your publication style provide valuable information. Everything (really everything!) is part of the rich mix of customer data.
All that is being talked about is the digital trail we all leave in our interactions in virtual environments. These footprints are the treasure map for companies that intend to be competitive and become the first in the customer’s memory when asked about a specific niche.
Do You Already Know The Power Of The Digital Footprint Left By Your Client?
In an increasingly competitive market, customer knowledge is critical. Having a map of all the footprints left him in his interaction with the company, with the competition, and even in his private life, especially on social networks, is a condition for maintaining current customers, winning new ones, and retaining all.
The much-acclaimed market intelligence is a very efficient tool for capturing consumption trends based on clues left by customers along their paths. In addition, it also combines the vision of the competition and other forces external to the business. With it, it is possible to anticipate movements and prepare to face threats and challenges that are to come.
Making the most of the power of understanding the client’s profile and market nuances provides companies with a knowledge base that will support the best decisions and guide the best directions for business success.
Being proactive and assertively directing products, services, and communication and marketing strategies is a competitive advantage only companies adopting business intelligence techniques can have.
With all this advent, a new CRM ( Customer Relationship Management ) appears, much more agile, accurate, adaptable, and with the potential to offer the customer what he wants at the right time and in the proper channels. With this new client portfolio management model, the arduous task of hitting the target becomes much more likely to be successful.
Also Read: Understand The Importance Of Business Intelligence
