Thursday, 10 February 2011

Customer Insight – More Than Purely Metrics

Whilst customer insight processes can rely heavily on sets of data in order to present levels of satisfaction, retention and behaviour, it is a fundamental element of customer insight to look beyond the numbers and take something tangible away from the figures. With the right customer insight service at your disposal it is possible to make on-the-spot and strategic decisions that can significantly change operating procedures and customer interactions. In essence, customer insight has the potential to revolutionise customer services for the better.

At the operational level, having effective customer insight by intelligently analysing and using metrics can lead to much improved customer handling procedures. It is through breaking down data and seeing where deficiencies lay that it is possible to recycle this understanding into training procedures. This training in turn helps to improve specific customer interaction activities such as up-selling and complaint handling and ensures that all procedures are relevant and appropriate to a company’s customers.

As well as increased capacity to resolve issues reactively; the improved training that results from customer insight activities allows a company to instigate proactive measures, which help to solve problems and identify opportunities in the long term. The result of these procedural changes is an increase in productive customer relationships and a decrease in those that are stagnant or degrading.

Whilst it may have been explored previously the assistance that customer insight can provide in the formulation of strategies for the business is invaluable. This applies to not only upcoming marketing campaigns, to ensure they are effectively targeted but can equally apply to new products and services, to ensure that they are in the interests of a company’s customer base.

Fundamentally customer insight data and initiatives should change the entire outlook of a company, to one that is far more customer centric and focussed towards providing the best service possible. It is by employing customer insight strategies that it is possible to instigate this change, improving not only customer loyalty and retention, but also allowing a company to understand the delicate balance between customer satisfaction and revenue.

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