Analytics tracking has completely transformed our world through hard cold facts that help us shape our business decisions. Often, we focus on data analysis driving consumers to make purchases, but what is the future move for post purchase in data analytics?
I asked Amanda Pizarro, CEO and co-founder of the Salty Donut, who was recently named Forbes 30 under 30, about what trends she is searching for to help her make better business decisions. Salty Donut currently uses Square to track where their customers are coming from but her main concern is tracking the customer experiences influencing location to open up new stores where her customers live; they’re focus is to target areas where their customers feel their best and are convenient. “I would like to see stronger analytics post purchase to help us figure out where our customers are coming from and how often are they coming. We’re trying to target the areas where our clients are visiting. Customers are visiting us, but not often enough and our main concern is location. From there we can draw clearer conclusions that most likely they’re not visiting us more often because we’re too far out of the way. If more data was available, we would be able to make clearer business decisions and connect more with our customers.”
Sean Cox, a fellow Masters of Marketing graduate and business analyst at the Walt Disney Company had a similar answer in regards to understanding the analytics for customer experiences for the future. “I think more experiential data capturing will be the future of analytics. We have hit diminishing returns with the sheer amount of data we are able to capture at the pre-purchase level. Post-purchase, the time after the consumer purchases the product, there is incredible opportunity to gather data about how consumers interact and use products. As an industry, we are slowly beginning to experiment with this data-capturing method beyond just a post-purchase survey. Being “observers” of how a product is used and looking at the consumers one-by-one is a trend that I am seeing working in the theme park industry. We are relaying less on survey data, and more on “in-park observations” which gives us richer data to analyze as marketers.”
A fellow classmate of mine, Victoria Aramboles, also sees analytics shifting to drive customer engagement. “Artificial intelligence analytics is the real artificial intelligence that is the driving force to help shape post customer engagement.” Although my professor, Jacqueline Tanenbaum, sees the future as big data and how to evaluate it to help assist big companies make better decisions. “Big Data is going to continue to be a big part of what it is that we do as big companies collect more data. The biggest trend is trying to help companies be at the forefront to help them understand how to collect, what they are collecting, how to analyze the information and how to make the
information digestible for business decision making.”
The future is unpredictable but you can definitely see that companies and fellow marketers are searching for the next way to increase customer loyalty. They are continuously asking the “what’s next” post purchase with consumers, making sure to cater to the consumer as much as possible.