Who will be my highest value customers in a year's time?
How do I increase customer loyalty across all demographics?
How do I increase marketing spend ROI?
Customer datasets lie at the heart of providing useful insights into your customers and their behavior in order to answer questions such as these. If you know your customers, you’ll understand their preferences and be more effective at marketing and selling to them. You’ll also know how to drive increasingly sophisticated marketing programs that reach more people in more places to deliver value for your organization.
Customer data is not the end point, though. It’s just the beginning. By combining multiple sources of real time customer information with other forms of internal and external data, departments throughout your organization can create powerful banks of analysis to lower acquisition costs, increase revenues and boost profitability. You just need to understand what you want from your data, then start sharing.
For example, impressive data combinations help retailers monitor real-time choices and online shopping baskets. They use this information to send personalized adverts to consumers to tempt them back to items abandoned in shopping baskets. And travel companies combining consumer movements through the web with geo-location and shopping habit data are able to optimize pricing for flights and hotels per customer.
Customer data is crucial for organizations – it always has been. Yet it's still not being used fully.
Use our RAPid cloud platform to Integrate, Cleanse and Enrich (ICE) your data so it becomes meaningful, accessible information to everyone in your organization. Then ask new questions and gain new insights from the information without having to factor huge research costs into a marketing budget, or rely on IT support to run reports, build new databases, or create APIs.
Take a look at our infographic below to see how your customer data could be integrated with other sources of internal and external information to assist all departments within your organization in making better, more informed, real-time decisions.
Customers are the lifeblood of your organization and understanding them is an absolute must. If your organization is not utilizing customer data, or sharing this valuable dataset across different internal functional departments, you are very likely to experience customer churn.
To get you started, we’d like to share how we see and map out the value of customer data. This unique research showcases some of the insights you can create by accessing, connecting and sharing sales and marketing analytics, for example, across your organization. It maps out what business objectives can be achieved – so you know exactly where to focus your efforts in order to deliver true business value, in real time, not weeks.