It does not take a huge amount of data to serve your customers better. In fact, getting the few right pieces of data may help amplify the value your customers receive for less effort.
New technologies, changing customer expectations of value and increased global competition put old business models at the risk of extinction.
If customer analytics is not on your radar, you are exposed. At the simplest level, customer analytics refer to using data to not only track sales or understand new markets but to also gain new insight into what your customers want, how they behave, what’s important to them and what you should do to forge and strengthen your relationships with them.
You don’t need to spend a lot of money on customer analytics but it does take a lot of listening and thought in advance. A few ways to get a “whole world view” of your customers and presenting them with a single interface of value include:
– helping the people who work with your customers capture more information about them by listening to what they believe is important and then equipping them with better tools and ensuring they use them.
– get clarity and focus on a handful of channels by better understanding which segments need the most successful forms of data-backed up selling effort.
– empower the organization to contribute to sales by expanding access to customer relationship management tools and find a way to engage them.
Situational awareness and insight is still the name of the game in competitive markets. Using data to your advantage by understanding the depth of the customer problem and pushing wider to understand new opportunities will deliver increased value to them.
Understanding how to become more relevant your customers will likely help you to build a deeper relationship with them.