2017 CUSTOMER INTELLIGENCE SIGNS WHICH BRANDS SHOULD NEVER IGNORE!

WHAT IS CUSTOMER INTELLIGENCE??

CURRENT BUSINES

S

AUDIENCE

MARKETING TRENDS

MARKETING

METRICS

CUSTOMER

INTELLIGENCE

DID YOU KNOW THAT CUSTOMER INTELLIGENCE SOURCED FROM MULTIPLE STUDIES CAN COMPLETELY TRANSFORM THE BUSINESS??? Yes, it can. Because, Customer

Intelligence is all about…

WHY CUSTOMER INTELLIGENCE

MATTERS??

Brand authenticity

lifecycle

Contextualized customer data

Continuous engagement

Because, it is customer intelligence that improvises the rapidly changing Customers’ persona using customer insights. Customer feedback is the truth serum that links brands & customer insight.

WHERE ARE YOU?? – IN CUSTOMER

INTELLIGENCE MATTERS To find out, ask yourself first:

• Are you Overselling or underselling?• Are you aware of data literacy that

makes sense to your business?• Can you predict what your

customers are up to next?

2016 was a year of data explosion and customer intelligence innovation, wherein, thousands of start-ups emerged and revolutionized the way they do business across the globe. Human-machine interfac

e

Use of Artificial Intellige

nce tools

20% customers costs more to serve

than the revenue they

generate

89% of customers fail to

create a deep personal brand connection with the brands they purchase from

It costs 5 times more to acquire a new customer than to retain an old

oneWHAT’S YOUR MARKETING MATURITY?

– CUSTOMER INTELLIGENCE STATS

MATTERS!

Your brand is not authentic unless there is transparency, innovation and knowledge of consumer taste complexity. To simply monetize on consumer decisions, brands should step up into new methodologies, innovations keeping consumer insight their pivotal focus.

TAKE THE AUTHENTICITY

CKHALLENGE WITH THESE

5 SIGNS !!!

You need well-designed CX strategy and customer intelligence platform to build strong customer relationships , tracking and solving problems

faster than before. If you don’t want to lose out in this competitive marketing game, implement the right tools to analyze large volumes of

data now!

#1 SOCIAL ENGAGEMENTHow many online

audiences are following you?

How is your social brand connection with your customer?• If your customer interactions are

relevant & matches with the crowd you want to attract, you are on the right track.

• Find out what they are talking about to focus on content curation tools to make sure that your content is asper your audience’s interests.

• Discover who influences them and what drives those brand influencers.

#2 CHURN RATES - WATCH OUT!

Are your churn rates increasing or decreasing?

For every 5% churn rate each month, you lose out 50% of customers that needs to be replaced with new customer

Never calculate your customer churn rates as average revenues churn rates. Each customer differs from the other. Instead, check for the diverse versions of churns that accrues from your customer base. Identify gross churn rate (upgrades & upsells), net churn rate (new customers), new churn rates over the time & then calculate or compare rates of your company with others.

#3 CUSTOMER FEEDBACK-

Are you missing out a critical CX data? Listen

Up…Smile sheets, feedback forms, ratings, grades, surveys and suggestions are ways to find out meaningful information and how you give weightage to their opinions.Feedback benefits exploration of data and valuable insights that you can mine out being realistic in customers’ expectations and customers’ experience. Interpreting them will only help you to filter the data relevant to your business and improve marketing strategies to deliver more effective results. Using multiple channels to capture feedback for your brand can help reaching out some of the unheard customers, long-term customers & new customers.

#4 CHANGING SHOPPING BEHAVIOUR-

Contradictory preferences, mobile obsessions, rising expectations, easy digital navigations,

positive brand experience – Did you come across any of

these?

4 out of 5 customers will not come back if they have a bad experience with the brand.• Customers are going mobile. They expect

product availability at any moment and at any channel.

• With the intervention of augmented reality (e.g. Pokemon Go), exploring physical space & motion accessibility in real time is no longer a distant dream. Data will be analyzed to make all digital information attached to the physical world.

• This will apparently result in rising businesses connectivity to products via mobiles for faster decision making.

• Businesses will incorporate (IOT) Internet of things or M2M world of connected devices incorporating “connectedness capabilities” to achieve the status of Industry 4.0 Company.

#5 CUSTOMER EXPERIENCE - Customers are communicating their

needs, opinions, complaints etc. – Are you

listening?

Customers’ needs are changing, so are their expectations. Capturing their voice and converting them into intelligence by analyzing & organizing them can translate the investment on CI into dollars.

DON’T TARGET THE CUSTOMER. LISTEN TO THE CUSTOMER!

Then Now

Well, that’s not all of the signs to count upon to transform CX. There are more insights that

are powered by data to explore from each touchpoint

that can help you compare your business with others.

Stay tuned for more updates and insights from “Subhakar

Rao Marketing Insights”. Explore a little more!

Data Courtesy: visioncritical.com