It’s not who you know – but how well you know them
When you really know your customers, you not only follow what they’re doing and buying, but also understand why. This enables you to predict and influence what they will do next, satisfy their needs, and strengthen not only your relationship with them but also their loyalty to you. All it takes is customer intelligence.
There are 7 milestones on your journey to achieving customer intelligence. Achieve them all, and you can expect to enhance customer retention and Lifetime Customer Value, reduce marketing costs and reveal lucrative new business opportunities.
The milestones are:
- Record – record transactions and interactions with your customers and store them. You probably already have more customer information throughout your business than you realize.
- Integrate – bring together the data you have on each customer from sources around your business – while checking and enhancing its quality and accuracy – and you can create a single, ‘golden’ view of each and every customer.
- Analyze – dig deep into your integrated customer data with data mining tools and techniques to reveal hidden trends, clusters and patterns to inform your business activity.
- Engage – use your new understanding of your customers to tailor your sales and marketing engagement to their needs and track how they respond across multiple touchpoints.
- Optimize – continually test, validate and refine how you engage with your customers to maximize the value of your relationship with them.
- Enrich – add data to your customer intelligence from external sources to open the door to further insight and perspectives on your customers.
- Predict – advanced mining of customer data and application of artificial intelligence and predictive analytics will take your customer relationships in positive directions that are new and unexpected.
The Agile approach
Wherever you are on your customer intelligence journey, we will work with your team to help you:
- migrate from basic recording of transactions to full understanding of your customer base
- develop committed customer relationships delivered across multiple channels
- reduce marketing costs and increase impact through smart customer engagement
- save effort and cost by leveraging your customer data and advanced technology.