Companies of all sizes and industries have one thing in common: they require an effective customer strategy that focuses effort and investment on the customer segments that produce the most value for the organization. Without such a strategy, an organization’s marketing, sales, and/or customer service efforts may be inefficient, improperly targeted, and difficult to track and measure. Consider:
How well do you know your customers?
One of the keys to an effective customer strategy is insight about the organization’s customers and prospects — information that enables executives to make effective and timely business decisions. This is the role of customer analytics.
The data that drives customer insight
Customer analytics comprises the processes, key performance indicators, and technology tools that enable an organization to refine and manage its sales, marketing, and customer service strategies. Analytics provides specific and targeted data that helps executives understand the health of their business, future growth opportunities, and trends in customer buying patterns in order to increase the return on marketing campaigns.
Among other things, customer analytics can help organizations calculate:
If you are looking for a way to improve the quality of customer data and use that data to drive acquisition and loyalty, take a look at West Monroe Partners. We specialize in optimizing the vital processes and systems that drive business performance.
We can help you define appropriate key performance indicators (KPIs) for your customer strategy and then put in place the processes and systems needed to measure performance relative to those KPIs.
A proven approach to customer analytics
West Monroe Partners applies a proven and comprehensive approach to creating effective customer analytics—one that we can tailor to suit your unique customer strategy.
To provide actionable business intelligence about your customers, we take some or all of the following steps:
Customer experience expertise
West Monroe Partners has years of experience working with companies of all sizes and across many industries to optimize their customer experience. Our expertise begins with developing comprehensive customer strategies that consider all touch points with your organization. And, it extends through defining the metrics that match your strategy and establishing the enterprise level business intelligence capabilities for reporting those metrics— when and for whom they are required.
Our experience across a variety of disciplines—including customer service, Internet marketing, customer relationship management, and content management—provides the foundation for understanding and optimizing all aspects of your organization’s customer experience.
Attract and retain customers
With the right perspective on your customer relationships, your organization is primed to take the steps that it can to be more successful in attracting and retaining customers:
In short, all the things that come from knowing your customers a little better.
That’s business in the right direction.