Growing your business through customer intelligence
Customer intelligence is the process of gathering, contextualizing and analyzing customer information to build deeper customer relationships, create sustainable profitability and improve strategic decision-making.
Here’s an inconvenient truth: 80% of your customer portfolio leads you to lose money or to break even at best. By this, we mean that you’re using way too many resources (support, advertising, budgets, etc.) for little to no return. Why is this, you ask? The answer lies in the vast amounts of customer data we collect. Raw data, in itself, is worthless. However, if you analyze it within the right context and look for business drivers, you will gain innovative insights that will help you focus on the right customers who will create true value, thus reaching the full potential of your business.
a company that understands its customer insights and activates those insights across the whole organization will succeed in building a sustainable competitive edge
A few frontrunning companies, however, have discovered that ‘reconnecting with the customer’ is the path to success. To do so, they need a 360° degree view on their customer: a complete picture of his or her buying behavior, personal preferences, financials, context, sentiments,.... Armed with this knowledge, companies can connect with those customers with relevant communications and provide them with relevant product offerings.
Many companies today are already sitting on a pile of raw customer data. The tragedy, however, is that only 5% of that data is used to improve sales and marketing. The biggest problem? Data is scattered across the enterprise, making it virtually useless. The technological challenge companies are now facing is how to integrate different data sources — CRM, ERP, accounting, external sources, and more — leading to real customer intelligence.
3 steps from data to impact
1. From silos to fully integrated data
Data is stored in different silos and applications. To gain insights, companies need to pool data from different sources.
2. From data to insights
Employ logic and statistical intelligence and using the right methodologies and competencies.
3. From insights to impact
Incorporate customer insights into day-to-day operations.
The power of Customer Lifetime Value (CLV)
A 360° view of your customer allows you to predict how profitable they will be for your company. This metric is called the Customer Lifetime Value (CLV). It should be the ultimate metric for companies to evaluate true customer performance and distinguish the good customers from the bad ones . CLV is the one metric that helps companies strike the ideal balance between customer experience and profitability.
The goal here is to create value on two fronts:
- Value for the client by providing relevant products and communication
- Value for the company by establishing sustainable profitability
This way, companies ensure that every investment in sales and marketing activities contributes to the organization’s long-term strategy.
Get to know your customers again
Gain relevant, behaviour-based customer insights using analytical and statistical expertise. At delaware, we have the business knowledge and technological experience to turn your data into actionable insights, and help you reconnect with your customers.
How we can help you
- Create a data-driven mindset through vision, strategy and roadmaps
- Define improvement programs through generation of workshops, quick scans,
- Execute transformation at your company
- Upgrade your business processes and train your people in using advanced insights.
Why choose delaware?
- We offer a structured approach
- We offer end-to-end solutions
- We collaborate closely with your team
- We bring over 25 years of experience in customer intelligence & business transformation across numerous industries