customer centricity boosts performance
1. Customer Insight Marketing
As new channels for buying and selling evolve, more consumer touchpoints than ever need to be integrated into a company's sales and marketing approach. Price transparency, especially in e-commerce, has never been greater and customers can easily compare prices across different providers with the aid of price comparison sites.
Customer Insight Marketing is good strategy to satisfy customer. It means a deep understanding of customers, their behavior, preferences, and even their needs. By analyzing the rich data you have about your customers, including browsing history, buying patterns, returns, campaign response patterns, demographics and predictive modeling, you can communicate with them in a highly personalized way and continue to provide added value to build strong loyalty and long-term relationships.
To analyze customer data to find patterns, advanced technologies (e.g., customer modeling, predictive analysis, machine learning, and artificial intelligence) must be used to predict the next step, desired time, and need. You then need to create messaging and services that are perfectly aligned with each customer's unique preferences, timing, and channel preferences.
At a higher level, customer insights should be leveraged to develop customer marketing strategies that allow customers to rethink their purchases elsewhere, despite aggressive advertising or competitive low prices. Detecting behavior patterns, trends, and opportunities and combining them with marketers' creativity can lead to a series of customer campaigns that maximize customer loyalty and spending.
4. a point of caution
Theoretically, deep insights from customer big data should allow highly skilled employees to be more creative and spend time connecting with customers in new ways that add value. But in reality, many people lose interest in visiting stores and talking to customers and spend most of their time in front of their computers instead. Some people just give up completely and find another role.
The key is not customer insight, but providing key performance metrics for customers at the product level, providing the ultimate goal of customer-centric decision making.
Five broad rules allow administrators to move from working for customer data to working for customer data.
1. Make decisions first and make data later
Most administrators know that data is not an end in itself. That means it needs to help your business.
2. Grant permissions and do not automate
Marketing and commercial decision makers often complain that customer analysis tools are developed to improve productivity and are actually ineffective. In most cases, this is because the company has built a centralized, impenetrable black box that makes decisions for people rather than helping them make better decisions.
3. Design "With You, For You"
Once you decide to use the insight tool, the company needs to keep the first data project small and focus on front-line decision making so that participating managers can participate and ensure success.
4. Continue to remove obstructions
Companies should continue to review customer data reports with front-line managers to ensure they are limited to reports that provide actionable insights.
5. Build analytics and culture across your organization
Finally, successful data projects will eventually fail unless companies build an organization that can continuously improve and maintain new approaches. This is to enable the demand for new approaches to spread throughout the organization.
5. personalization
In an increasingly digital world, expectations for companies' services are at an all-time high. Consumers need a seamless experience and want to show their products and services. Companies that understand consumer behavior and invest in personalized marketing can provide an experience that customers are truly interested in, ultimately increasing retention and customer acquisition.
Businesses need to build a solid data base, interpret vast amounts of data at their disposal, and move to an agile way of working that enables them to deploy initiatives quickly and at scale.