Quadrant Knowledge Solutions defines Customer Journey Analytics (CJA) platform as:
“Customer Journey Analytics (CJA) helps organizations in improving customer experiences by tracking and analyzing customer interaction across channels of an organization. It helps in analyzing and managing customer journeys to enable businesses to execute behavior-driven strategies in real-time. Customer Journey Analytics platform helps in eliminating data silos and integrates customer data across interaction channels and marketing systems to optimize customer experiences.”
Advancements in marketing technologies have enabled marketers an enhanced capability for segmenting and targeting their potential customers and execute a variety of engagement campaigns. As the number of engagements increases, marketers are finding it difficult to understand the customer experience from the campaign level. The customer journey analytics software enables marketers to visualize a complete view of customer journeys and their experience from interaction with the brands. Marketers can understand customer behavior from initial stages of hearing about the brand through recommendation, advertisement or billboard, comparison with the competitor, learning about new products and services – to the actual conversion. The journey based approach helps organizations to align their marketing and service functions towards making customers at a focal point. While the majority of the global organizations are struggling to keep up with the rising customer expectations with their traditional approach to CX, global leaders are leveraging journey-based approach to optimize customer experience with personalized engagements. Global organizations are deploying customer journey analytics software for a variety of use cases including customer satisfaction, customer retention, and churn, customer lifetime value, upsell, cross-sell and repeat purchases.
Customer journey analytics helps organizations to consolidate customer data from a variety of sources and channels, analyze customer interaction across channels, and drive personalized engagement through appropriate channels. Majority of the leading vendors provide support for a variety of interaction channels including website, social media, e-commerce, display advertising, call centers, retail stores, smartphones, and such others. Leading CJA vendors are also extending the support for new age channels, such as virtual agents and conversational platforms to improve the effectiveness of CX strategies. Organizations can keep a track on customer channel preference, channel switching rates, and their specific behavior to customize targeting strategies in achieving specific goals.
Quadrant Knowledge Solutions is conducting a detailed market outlook research on Customer Journey Analytics and Customer Journey Mapping market. The study will provide a detailed competition analysis in the form of the SPARK Matrix. SPARK Matrix analysis offers a snapshot of key market participants and a visual representation of market participants and provides strategic insights on how each vendor ranks related to their competitors, concerning various performance parameters based on the category of technology excellence and customer impact. Additionally, the research will provide a detailed analysis in terms of market size and market forecast of the global Customer Journey Analytics and Customer Journey Mapping Market.
For more information, please visit expertise page on Digital Customer Experience and Commerce, Data, Analytics, & AI and contact the lead analyst for Digital Customer Experience and Commerce research, Priyanka Panhale at PriyankaP@quadrant-solutions.com.