Using data to improve user experience

Jun 28, 2020 | General

​More than half of customers today say they’ve switched companies solely because of poor user experiences. Companies who fail to embrace CX as strategic path to growth won’t just be lagging, they’ll get left behind.

So how do you improve the experience that a customer has with your brand online? In this blog we look at three ways:

Quality user experience

You can only create a quality user experience if you understand who those users are, their unique personas. Data analytics makes this possible. It helps you to identify what customers like or dislike, respond to or ignore, what generates enquiries, as opposed to what doesn’t. By understanding customer behaviours you are better able to identify what they’re looking for when they reach your website, and provide what that is to keep them there for long enough to make a purchase.

A top user experience is particularly critical for Forex companies who operate in an aggressively competitive industry, especially during the Forex onboarding process. This makes having an innovative CRM solution like QoreFX – that can produce the data and reports you need to help you improve the user experience – so important. QoreFX provides you will useful system features to be able draw insights into the type of customers you serve, which you can then use to optimise the user experience on an ongoing basis.

Converting negative customer reviews

Research shows 80% of data is “dark and untouched,” meaning it’s never actually used to make improvements or changes deemed necessary by the customer”.

Having the ability to access data from your CRM quickly and easily means leaves you with no excuse for not acting on it timeously. We live in a world where customers are very fast to leave negative reviews anywhere they can so you need to be sure that you’re doing whatever you can to maintain a top notch user experience. Use the data your CRM system can produce to understand how customers feel engaging with your brand throughout the buyer’s journey so that you can make continual adjustments to optimise the experience your Forex firm is offering.

Multiple sources of data

To be able to fully understand customers, you need access to comprehensive insights. This requires having the ability to access data from multiple sources. The QoreFX platform for instance, which has been designed to handle the complexities of the Forex industry, can be integrated with many systems including trading platforms, website, members area, mass email and/or sms marketing systems, live chat, telephony systems, payment gateways, AML/KYC, your back-office/ERP, and much more. This gives you the opportunity to acquire data from a variety of channels, no matter where in the customer journey they’re at, and using it to improve processes and procedures, as well as sales and marketing activities, making for a better user experience for the customer.

In conclusion, don’t underestimate the value of data and the integral role is plays in improving the customer experience and altering the customer journey in a way that will boost your bottom line.

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