Companies use Keen IO for a variety of purposes. One of the reasons we love building an analytics platform is to see what creative technologists make with the tools we’ve built. We’ve seen patterns of course, and there’s one use-case in particular that I think more companies should be doing — sharing analytics with their customers. To some people that seems like a no-brainer; to others it can be terrifying. I believe that it is not only good business to be that transparent with your customers, but it is also good -for- your business.
It’s widely accepted that data is the new wave of technology to harness. Every company needs to be using data in order to stay competitive. If not, competitors who DO use data intelligently will win. This primarily takes two forms. One is using data internally to drive product and pricing decisions. The other is using data and analytics to communicate clearly to your customers the value they’re getting from your service.
People are getting more and more used to seeing data, charts, and metrics. They want to see that the product is doing what it claims. They want to learn new insights about their business, or even about themselves. Sharing this information with them not only inspires trust and communicates transparency, but it also shows how confident you are in your product.
Products that actually do what they advertise should relish the opportunity to show it off. The numbers and timelines will differ by the product. Some products could show how much money has been saved or made. Other products might show how engaged the users have been or how much entertainment has been had. The point is, every product has a key set of metrics that indicate user happiness and/or product effectiveness. If you’re not showing those to me, it makes me feel like your product isn’t as good as you claim and I’m much less likely to continue doing business with you.
Many products rely on the “perception of value”. Other products rely on people forgetting to cancel their account. Some companies rely entirely on slick and aggressive sales tactics to push a bad product on unsuspecting people. Those are the companies that should be afraid. The ability to prove you’re helping a customer is going to become not only commonplace, but expected by today’s users. As that happens, those companies will struggle with new business and contract renewals.
So I challenge you as a company to answer this question: what is the real value your product/service provides? Then ask yourself if you’re comfortable sharing metrics for that with your customers. The answer should be yes, and Keen IO can get you there quickly.