Johannesburg, 16 Mar 2016
Understanding the differences and similarities about your customers helps you to sell more. The more you know about them and their needs, the easier it is to identify opportunities to sell them new products and target them with appropriate offers. But you know this already.
People don't spend money as segments. They spend money as individuals. Like any meaningful relationship, getting to know your customers well is an ongoing commitment. The customer is more in control of the buying process than the company, so how do you reach consumers at this individual level to leverage the relationship between your brand and your customer?
At Effective Intelligence, we understand this is by no means a small undertaking. It is urgent as this could be a very strong and effective competitive strategy. Let's face it, data-driven marketing is no longer optional - it is critical to your success. Why? Because customers exchange their data with you so they can have a more personalised experience with you.
(Understand, this is not a blank cheque written to marketers - data privacy rules still apply, so do data ethics and data control. We need to respect our individual customers).
Fundamentally, Effective Intelligence starts by providing its clients with these five tips to assist them to ensure they are talking to the right customer, the first time.
1. Be clear on what you want to accomplish
* You probably have gathered enough customer data. But given the enormous amount of it, you need to decide upfront what you want it to be used for. Do you need insights into your brand perceptions, operational performance metrics, customer pain points, improvement opportunities or insights into customer experience?
2. Develop a comprehensive data strategy
* From an accounting standpoint, many companies are struggling with the "big mystery" about what their data is worth. On a tactical basis, much of the value of data comes from knowing how to apply it to seize market opportunities - which is exactly what Effective Intelligence can help define.
3. Assess the data quality and get the data infrastructure right
* This is a bottleneck to most enterprises and holds up the entire process for effective customer engagement (sad but true). The requirements for your data quality will vary greatly depending on how you intend to use it. Start simple, ensure your existing data is validated, verified and structured.
4. Utilise analytics to activate the data
* Many companies don't regularly gather outside-in customer perspectives - or broadly share insights when they do. But without an outside view of what is or is not important, what works and what doesn't - you will lack an accurate view of the customer, causing employees to make decisions on incomplete or flawed information.
5. Use the best metrics to drive success
* Metrics should focus on customer activity rather than simply regional or product activity as is often the case. Metrics should also reinforce new behaviours and processes and needs to deliver insights quickly - often in real-time - so the business can actually act. They need to be delivered in a way that is easy for decision makers to understand and forward thinking to identify future opportunities.
Want more customer intelligence tips? Please visit http://e-intelligence.co.za/insights-to-consumer-social-groups/
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