In a world where customers are becoming more discerning by the day, businesses are seeking new ways to understand their behavior so as to market to them more effectively. Businesses are increasingly opting to fully gather and use customer data. Dynamics 365 Customer Insights combines corporate system data with behavioral, transactional, and demographic factors to create meaningful customer profiles.
Customer Insights want to make it easy for every business, and every business function, to transform how they drive personalized engagement with their customers.
What is Dynamics 365 Customer Insights?
Customer Insights is an AI-Powered, real-time enterprise customer data platform that delivers unmatched customer experiences. By using the platform, businesses can understand who their customers are and how they interact with the platform. This enables businesses to better understand and unify their customers’ data to gain insights that will enhance their personalized experience and activities.
This platform helps businesses increase loyalty, create targeted omnichannel advertising campaigns, analyze cohort audiences to make predications, and create 360-degree views of customers.
This feature can help you transform your business into a customer-focused organization. Through transaction data and observational sources, marketing, sales, and customer service professionals can use the collected data to personalize their customers' experience.
Gain an interactive understanding of how your customers use services and products individually and globally on their websites, mobile apps, and network products with Engagement Insights. Behavioral analytics can be used to analyze transactions, demographics, surveys, and other data types in Microsoft Dynamics 365.
Such insights provide a deeper understanding of how customers think and can help businesses answer important questions, such as:
- Why are sales of a particular product down?
- Are you likely to succeed in a new target audience?
- How does your audience perceive your brand?
- Is it possible to sell an existing product or service to your customers?
Customer insights can be gathered from many sources: using customer data, reviewing products and services, conducting market research, collecting purchase history, and interviewing customers.
By understanding the needs, desires, and requirements of their customers, businesses can better adapt and customize their products.
How Customer Insights Can Benefit Your Business
Businesses can use these insights to amplify their product/service offerings, expand innovative marketing strategies, create unique customer personas and customer journey maps, and decorate contemporary offerings. Microsoft states, “A moderate increase in customer experience generates an average revenue increase of $775 million over three years for a company with $1 billion in annual revenues.”
Insights derived from customer data have been shown to improve and personalize the customer experience, resulting in stronger relationships that drive revenue. The Dynamic 365 Customer Insights solution will enable businesses to centralize customer data and incorporate AI-driven insights into their business operations.