The foundation of any digital experience is data. But there are massive changes coming to data, including its collection, sharing and processing, along with changing customer demands. In light of these trends, 71 percent of brands surveyed by Harvard Business Review Analytic Services and SAP, said they are looking to alter their CX data strategy.
Data is one of the topics that will be covered during the CXN Live: Digital CX panel How to provide best in class digital experience, featuring Monika Tecza, customer centricity program manager for OLX Group.
Speaking to CX Network ahead of the panel, Tecza says: “In the digital world we have plenty of opportunities to gather data and good use of data is crucial to build hyper-personalized experiences that will lead to loyalty. This is the best way to win over competition.”
Online marketplace OLX Group utilizes first-party data from multiple channels. These include customer support data, which reveals the customer’s key pain points, and customer survey data to understand the needs and opportunities identified by happy and unhappy customers alike.
Tecza explains: “Data is fundamental to us. Over the last year I have observed a huge progress in data gathering, storing, processing and usage at OLX. We use the data from diverse channels and, thanks to combining all sources, with the use of AI and data engineering, we are able to make product decisions and predictions.”
Customer surveys are the source of CSAT and NPS data and are key to creating any customer metrics across the organization, Tecza says. The research team delivers qualitative data on dedicated research, which allows OLX to identify a problem statement and then a solution.
Social media and app store reviews are also mined for insights and overall brand perception. Finally, the vast amount of data coming from the platform itself – including behavior, history and transaction value – is also put to use.
Collect and collaborate
Data collection is only half the job. Collaboration across teams is crucial in order to effectively analyze the data and respond to insights.
Tecza continues: “The next step is to analyze the data and democratize the access to the data across the entire company. Here the CX team serves as a linkage between the different teams and departments, and to deliver the right data at the right time to the product teams. Then we support the teams in prioritizing and making informed decisions which will turn into short- and long-term goals and finally OKRs and roadmaps.”
Whether the data concerned relates to research, data science, customer support or marketing, at OLX Group this work is led by product managers who invite other parties to a “discovery phase”, during which they gather the data required and align the knowledge held on a customer from the multiple angles.
Tecza says: “I see how crucial it is to collaborate across all the teams gathering data, whether it is research, data science, customer support or marketing. Once the product manager invites all the parties to the discovery phase, they are able to make a really data-based decision on our new product, to create targeted and personalized communications, offers or services. This can span across the diverse platforms we have and that’s a tremendous opportunity.”
Switching out third-party sources
First-party data has been at the heart of OLX Group’s customer strategy for some time, but many organizations still rely on third-party data, such as cookies.
Due to be replaced by new tracking technology, cookies will be phased out from mid-2024, which means brands are starting to rethink how they personalize experiences and reach consumers without this important source of information.
For those who are still dependent on third-party cookies, Tecza advises to start gathering first-party data as soon as possible.
“Use the possibility to talk to the customers – either through customer support, surveys or social media. There are many ways to get the data. Be responsive to their feedback, have a constant conversation with them,” she says.
“If you want to have loyal customers, you need to know who they are and what they want. Otherwise, the customer will switch to the next platform in the hope it will understand their needs better,” Tecza adds.
Previously, the customer survey played a useful role in this but today the volume of data generated by a survey can easily fuel confusion rather than decisions.
Proposing a solution, Tecza says: “I see a need to measure customer satisfaction, which is not a standalone CSAT or NPS indicator, but related to many other factors, such as activity, platform behavior, attitude, customer value over time and purchasing potential. It is very interesting to use the collected CSAT data and translate it into customer segmentation, and with the help of AI, into a customer’s future behavior.”
There is a further need, Tecza says, for closer, process-based cooperation between product and technical departments as well as customer support departments, for example by listening to customer conversations to recognize emotions and understand the friction they experience on their journey.
Tecza says: “The future of CX definitely depends on very close cooperation. In future, the ability to combine the data we collect to make an overall assessment of customer satisfaction will be very important.”
The collaboration is required between research and data science, data analysts and data engineers with AI used to predict customer behavior. Orchestrated correctly, this combination of tools and expertise can make the difference between a loyal customer and a lost customer.
Monika Tecza features on the panel How to provide best in class digital experiences, on November 8, 2022, as part of the two-day online event CXN Live: Digital CX. You can register to watch this session and others, live or on demand.