EDUCATION PARTNER
The A-B-C of Customer Intelligence
It’ s official- recent studies and polls are confirming what we already know: customer intelligence data can deliver real returns for your business!
In a recent poll in the USA, 93 % of companies polled reported that data was essential to their business success: without it, they may well be‘ in the dark.’ And in a recent research project, McKinsey & Company estimated that the healthcare industry could save $ 300 billion every year if they could get better at integrating data analytics. Should similar research be carried out in Australia, a correlation of the USA findings would undoubtedly prevail.
Clubs and club executives are very good at collecting data about our customers. Unfortunately, we don’ t always take the next step which is converting this data into customer intelligence.
IQ 24
In Australia, it is typical for data to sit in various places across the business including gaming systems, crm’ s, social media accounts, point of sale, e-mail servers or loyalty systems. This customer data is often managed by function rather than integrated through a single view, which is where the most benefits lie.
Think of your own business. How often does a communication piece go out to a customer and is returned because the contact details are incorrect or message is irrelevant? This is commonplace.
High performing businesses have a data quality solution in place that consolidates data across various channels and departments. Such companies use this intelligence to customise the service package and execute more effective direct marketing tactics. They also make sure they are reaching their target audiences – so up-to-date customer profiles are essential.
An overwhelming amount of data Reality has it that we have more and more data. The data is coming fast and furious across multiple channels. It is structured,
unstructured, transactional, behavioural, demographic, historical and predictive. It provides priceless insight into what customers need and want. Used properly, this insight has the potential to unlock real value. But given the quantity and format of all this data, it is not surprising that many organisations aren’ t yet prepared to take full advantage of the insights at their fingertips.
Assess the opportunities Data that is spread across silos and stuck in legacy systems can be difficult to access and often not accurate or complete. A customer intelligence view can help your business put data to work by uncovering opportunities to create short-term financial impact and long-term enterprise value. Before we over-complicate the whole customer intelligence gathering and dissemination process, let’ s pause for a moment. Take a breath. And try to define why customer intelligence is just so important to your Club. At the most strategic level there are five commercial objectives that customer intelligence can deliver. Although it may be a discussion for another day, Clubs may not necessarily need to reach