Customer Information Strategy
Individuals and businesses today have access to virtually complete information about the marketplace of products and services of interest, and increasingly are using that access to make decisions about their purchases. To retain and grow customer relationships in this environment, organizations must be in tune with customer needs and be proactive with timely communications. One of the enablers of this is actionable customer information. Examples of questions every business must address are:
- What information about a customer is needed by the website to drive a personalized web experience?
- What do I need to do to reach customers on their mobile devices with timely and relevant messages?
- Where are the information gaps that are preventing customers from enjoying a consistent experience across all sales and marketing channels?
- What information must be made available to marketing processes in a more timely manner in order to reach each customer at the right time?
Pinpoint’s Customer Information Strategy Service provides answers to these and other questions so you can begin utilizing your customer information to optimize the lifetime value of your customer relationships.
Our service typically begins by understanding how you use your available customer information to drive sales, improve customer relationships and increase customer lifetime value. As elements of this process, Pinpoint works with you to:
- establish the key marketing goals and quantitative objectives that are aligned with the overall corporate strategy, such as “reduce customer attrition from x to y”, or “achieve a cross-sell penetration of X% for a given product”
- identify the key pieces of information required to achieve each of the goals just identified (e.g., channel preferences, transaction history, purchase history, model-derived data)
- identify the source(s) of customer information collected around the enterprise as well as new opportunities to acquire additional data needed by the strategy
The benefits of Pinpoint’s Customer Information Strategy Service include...
- facilitating articulation of the often implicit marketing strategy
- identifying mismatches or gaps between available data or existing processes and the marketing goals
- identifying areas where performance can improve relative to industry best practices around leveraging customer information