2023-04-22 19:01:42
Dubai: Hamdi Saad
Many companies and brands have turned to the concept of data-supported business due to the pressures of the economic slowdown or the decline in expected growth rates, in an effort to provide analyzes and insights of value and a tangible return on investments in the medium and long term.
These companies resorted to data analysis in an attempt to identify customer trends during this period in order to come up with new visions and strategies that suit their aspirations and desires, and thus achieve satisfactory growth rates in terms of financial flows and profits, in addition to realizing savings.
Experts in data analysis and “customer loyalty” systems and solutions emphasized that customer retention comes through the gateway to understanding his tendencies and aspirations and working to meet them in the best possible way to continue growth and development.
Haitham Al-Khatib, Vice President for the Middle East and Africa at Sprinkler, says: Customer experience is the most important element now, as it defines customers’ perception of the company or brand, and defines customers’ needs and their special conditions, indicating that it no longer matters what the company or brand says. The business itself, but what customers say about it is the most important.
He added that knowing customers and serving them in a completely new way and meeting their new expectations requires the use of data power to improve retention rates for companies or brand customers, which enhances revenue growth, while market research from Invespcro indicates that companies that apply customer experience customization methods save 83% of time and achieve Return on investment in marketing is 5 to 8 times higher.
The UAE is one of the strongest countries in which the “Sprinkler” company operates, as companies double their investments in customer service, for example: Emirates Airlines is investing about two billion dollars to improve customer experience.
The “Intelligent” report issued by Customer Experience Live for customer experiences in 2022 showed that approximately 74% of organizations in the region will invest more than $200,000 alone to improve customer experience.
difficult process
Al-Khatib stressed that companies and brands must understand that the task of developing customer experiences to preserve them is a difficult process because there is no single source of customer data that provides a comprehensive picture of what affects their decisions and tracks emerging consumer behaviors.
In fact, customer behavior and expectations have changed since the beginning of the global pandemic. Research has revealed that online purchasing will grow by 65 to 150% in the UAE. Therefore, consumers expect an advanced level of personalization when interacting with brands.
Al-Khatib said: “For our part, we help companies collect consumer opinions across many channels and interpret trends in consumer behavior in order to give these companies a complementary view of the customer journey, starting with what consumers buy to the drivers of their purchasing decisions and the determinants of their feelings about the brand or product.” This information helps companies move towards adopting a customer-centric way of thinking by looking beyond the products and services that consumers care about.”
Increased productivity
Al-Khatib explained that by adopting an excellent customer experience strategy, companies and brands can divide the data sets they own in detail in order to reach a unified view of the customer, which enables them to achieve several advantages such as customer retention, gaining their loyalty, satisfaction, and participation. The unified management of customer experience measures and analyzes that companies need to measure performance and return on investment, as this management clearly shows the performance of the organization and how to improve its performance, starting from indicators of revenue growth and cost containment, to indicators of increasing productivity.
Promote competition
Mohammed Al-Zawari, General Manager of Snowflake in the region, Turkey and Africa, says: The size of the global telecom market has reached about $1.5 trillion, and the rapid growth in the use of smart phones has changed customer behavior and expectations with different business providers.
He added that Snowflake is a cloud company that specializes in developing a strong infrastructure for data storage, research, and parallel computing to enable companies to store their data on their cloud platform, unify isolated data, and share it securely to carry out various analytical work. Data is essential to ensuring the success of modern companies, especially as they seek to compete on a large scale. Global and aspires to gain first-hand insight into how other companies are leveraging their data to drive innovation.
Al-Zawari continued: We expect the demand for data analysis solutions in the UAE to grow by 20 to 25% this year compared to last year, due to the increased use of cloud computing, while Snowflake has strengthened its presence in the UAE by its location in the “Azure” region of Microsoft International, what It enables local businesses to maintain close proximity to their data while strictly complying with local data regulations.
Speed up operations
In turn, Gauthier Andres, Chief Technology Officer at Property Finder, said: We are working to provide our services to companies and individuals by relying on data and making use of them in the best possible way, as a provider of real estate technology solutions in the region, where data and its analytics contribute to ensuring smoother and more effective communication and coordination between business teams and customers. , which reflects positively on performance in general.
He added, Software as a Service provides the ability to provide more relevant data to consumers and customers at one time rather than focusing on maintaining the IT infrastructure, and also contributes to supporting the growth and development of the company to become more efficient and able to achieve profits by accelerating operations.
84% of companies invest in customer experience
A study showed that 84% of companies will increase their investments in customer experience solutions, conducted by Management Review Connections magazine, with the support of the global company, SAS, which specializes in data analytics and artificial intelligence solutions. The study stated that 62% of organizations in the region and Africa plan to increase their investments by up to 50% in customer experience improvement solutions by 2024.
The results of the study, which covered the Europe, Middle East and Africa region, showed that 22% of organizations plan to more than double spending on technologies such as data analytics, personalization and smart assistants. Expectations regarding the investment return in this field in the Middle East and Africa region indicate an increase of 100%, from 19% currently to 38% during the next 24 months.
Andreas Heis, Director of Customer Intelligence Solutions in Europe, Middle East and Africa at SAS, said: Global organizations are ahead of their counterparts in the Middle East and Africa in the level of customer experience, stressing that technologies help give customer experience more momentum and organizations need comprehensive data expertise. and to so-called granular products rather than minimal products.
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