Questions: H M (clothing store) is looking to enhance its understanding of customer behavior to improve its marketing strategy. They currently collect data from their website, social media platforms, and CRM system. Which additional source of data should the company consider to gain a more comprehensive view of their customers and why? 1. Only focus on increasing data collection from social media platforms. 2. Consider collecting customer feedback through surveys to gain insights into customer preferences and satisfaction. 3. Collect data from app store analytics to understand customer interactions with their mobile app, which could reveal insights into app usage and purchasing behavior. 4. Limit data collection to online interactions and exclude software and offline data sources.

H M (clothing store) is looking to enhance its understanding of customer behavior to improve its marketing strategy. They currently collect data from their website, social media platforms, and CRM system. Which additional source of data should the company consider to gain a more comprehensive view of their customers and why? 1. Only focus on increasing data collection from social media platforms. 2. Consider collecting customer feedback through surveys to gain insights into customer preferences and satisfaction. 3. Collect data from app store analytics to understand customer interactions with their mobile app, which could reveal insights into app usage and purchasing behavior. 4. Limit data collection to online interactions and exclude software and offline data sources.
Transcript text: H \& M (clothing store) is looking to enhance its understanding of customer behavior to improve its marketing strategy. They currently collect data from their website, social media platforms, and CRM system. Which additional source of data should the company consider to gain a more comprehensive view of their customers and why? 1. Only focus on increasing data collection from social media platforms. 2. Consider collecting customer feedback through surveys to gain insights into customer preferences and satisfaction. 3. Collect data from app store analytics to understand customer interactions with their mobile app, which could reveal insights into app usage and purchasing behavior. 4. Limit data collection to online interactions and exclude software and offline data sources.
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Solution

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The answer is 2: Consider collecting customer feedback through surveys to gain insights into customer preferences and satisfaction.

Explanation for each option:

  1. Only focus on increasing data collection from social media platforms:

    • While social media platforms provide valuable insights into customer behavior and preferences, relying solely on this source can lead to a narrow understanding of customer needs. Social media data is often unstructured and may not capture the full spectrum of customer experiences and satisfaction levels.

  2. Consider collecting customer feedback through surveys to gain insights into customer preferences and satisfaction:

    • Surveys are a direct method of obtaining detailed and specific feedback from customers. They can provide insights into customer satisfaction, preferences, and areas for improvement. This data is structured and can be analyzed to identify trends and actionable insights, making it a valuable addition to the existing data sources.

  3. Collect data from app store analytics to understand customer interactions with their mobile app, which could reveal insights into app usage and purchasing behavior:

    • App store analytics can indeed provide useful information about how customers interact with the mobile app, including usage patterns and purchasing behavior. However, this data is limited to app interactions and may not provide a comprehensive view of overall customer satisfaction and preferences.

  4. Limit data collection to online interactions and exclude software and offline data sources:

    • Limiting data collection to online interactions would exclude valuable information from offline sources, such as in-store purchases and customer service interactions. A comprehensive view of customer behavior requires integrating both online and offline data sources.

In conclusion, while each data source has its own merits, collecting customer feedback through surveys (option 2) is the most effective way to gain a comprehensive understanding of customer preferences and satisfaction. This approach complements the existing data sources and provides a more holistic view of customer behavior.

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