Do you know what Customer Insights is for? If you intend to place your customer at the center of the business, you need to know technologies and techniques, as they facilitate data analysis.

To demonstrate how to use it, we prepared this content that provides everything on the subject. Let’s go? Good reading!

What is Customer Insights?

Customer Insights, or “Customer Perceptions” in Portuguese, refers to information and knowledge about customers’ needs, behaviors and preferences, collected from a variety of sources, including direct interactions with customers, data analytics and customer feedback .

Why do companies use it?

Customer Insights are used to better understand customer needs and develop products, services and experiences that meet those needs more effectively. Additionally, they help companies identify market opportunities, create more effective marketing campaigns, and improve the overall customer experience.

6 Benefits of Customer Insights – CI:

There are several benefits to obtaining and applying customer insights within a company. Some of these benefits include:

  • Improved decision making: With a better understanding of customer needs, preferences and behaviors, companies can make more informed decisions about their products, services and marketing strategies.
  • Increased customer satisfaction: Using customer insights, companies can customize their products and services to meet specific customer needs. This can lead to an increase in customer satisfaction since they are getting exactly what they need.
  • Cost reduction: Customer insights can help companies avoid unnecessary spending in areas that are not important to customers. This can lead to cost savings and a more efficient allocation of resources.
  • Greater customer loyalty: With a better understanding of customer needs, companies can create experiences that customers value. This can lead to greater customer loyalty and an increase in customer lifetime value.
  • Identifying new market opportunities: In-depth customer knowledge can help companies identify new market opportunities. By understanding customers’ needs and wants, companies can create new products and services that meet these unmet needs.
  • Increased competitive advantage: Companies that use customer insights to inform their business strategies can create a competitive advantage. By offering products and services that meet customers’ needs more effectively than competitors, companies can gain market share and increase their profitability.

How to apply CI in my company?

Companies can collect Customer Insights through a variety of sources, such as surveys, analyzing sales data, and customer interactions on social media. Customer Insights analysis can also be performed using data analysis tools, including artificial intelligence and machine learning techniques, to identify patterns and trends in customer data.

There are several techniques for collecting and analyzing customer insights.

Here are some of the top customer insights tools:

  1. Market research: Market research is one of the most common ways to collect customer insights. They can be done through online questionnaires, personal interviews or group surveys.
  2. Sales data analysis: Sales data analysis can help companies understand customers’ purchasing patterns, including what they buy and how often.
  3. Social media monitoring: Social media monitoring can help businesses understand what people are saying about the brand, its products and services on social media. This can help companies quickly respond to issues and improve the customer experience.
  4. Usability testing: Usability testing allows companies to test how customers use their products or services. This can help identify usability issues and improve the customer experience.
  5. Customer feedback analysis: Customer feedback analysis can be performed through post-purchase surveys, real-time feedback, or through customer support channels. This feedback can help companies understand the strengths and weaknesses of their products and services.
  6. User behavior analytics: User behavior analytics can help businesses understand how customers use their products or services, including how they navigate a website, where they click, and what they search for. This can help companies optimize their products and services to better meet customer needs.
  7. Data analytics tools: Data analytics tools, including artificial intelligence and machine learning, can help companies identify patterns and trends in customer data. This can help companies predict customer behavior and create products and services that meet those needs.

Customer Insights Tools

Working with all these techniques without a technological tool to help is laborious, expensive and unreliable. With this in mind, Microsoft developed a solution called Dynamics 365 Customer Insights.

Dynamics 365 CI is a customer data management tool that helps companies collect, unify, and analyze customer data from multiple sources to gain deep insights into customer behavior and deliver personalized experiences.

With Dynamics CI, companies can collect data from multiple sources, including CRM systems, databases, social media, and other data sources, to create a comprehensive profile of their customers. The tool then uses data analytics and artificial intelligence to identify patterns of customer behavior and preferences, and to predict what customers will do next. Find out more in the Webinar, watch the recording!

Do you want to know more about this Microsoft solution and how to implement it?! Consult our team of Data & AI Smarters, they have expertise in the solution and can help! Request contact.