Becoming the Master of Customer Data
Becoming the Master of Customer Data
It goes without saying that in order to effectively compete in todays competitive marketplace, you must truly understand your customer relationships. Skriletz (and many others) have referred to this piece of mastering your data as being customer centric. It is important to understand the transactions that your customers perform with you, however, it is even more important to understand the customer relationship as a whole. Skriletz states it well: "This is the first challenge to becoming customer-centric: recognizing that a series of fragmented customer interactions delivered by separate customer service, account, product or billing business units does not ensure customer satisfaction. Businesses where customers churn are beginning to tackle this challenge in order to keep their high-value customers."
In our work with the telecommunications industry, we've experienced this first-hand. In the late '90s and early '00s, many of the large telecommunications firms were losing as many customers as they brought on to their network. It's really quite astounding to think about this. Those firms that embraced the concept of mastering their customer data and effectively looking at the entire customer relationship, were able to stem the tide of churners and create more loyal -- and long-term customers. Those who didn't -- well, let's just say there are fewer telecom companies out there today, and this is a contributing reason for their ultimate demise.
We've written a white paper (titled Data Management Solutions) on effective customer data integration techniques. We are passionate about this topic because we've seen our customers benefit greatly from utilizing this tool to make their direct and database marketing efforts more successful than ever. Let's all become masters of our customer data environments! We promise it'll make you a hero!
Becoming the Master of Customer Data - To learn more about this author, visit Nancy Arter's Website.
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In a recent article from Business Intelligence Network, Richard Skriletz discusses the importance of "Mastering Master Data -- How to Succeed with Master Data." Skriletz talks about how really understanding and integrating your customer data is key to building more profitable customer relationships -- and how solving this business problem with help your business reap huge rewards from a profitability perspective.
It goes without saying that in order to effectively compete in todays competitive marketplace, you must truly understand your customer relationships. Skriletz (and many others) have referred to this piece of mastering your data as being customer centric. It is important to understand the transactions that your customers perform with you, however, it is even more important to understand the customer relationship as a whole. Skriletz states it well: "This is the first challenge to becoming customer-centric: recognizing that a series of fragmented customer interactions delivered by separate customer service, account, product or billing business units does not ensure customer satisfaction. Businesses where customers churn are beginning to tackle this challenge in order to keep their high-value customers."
In our work with the telecommunications industry, we've experienced this first-hand. In the late '90s and early '00s, many of the large telecommunications firms were losing as many customers as they brought on to their network. It's really quite astounding to think about this. Those firms that embraced the concept of mastering their customer data and effectively looking at the entire customer relationship, were able to stem the tide of churners and create more loyal -- and long-term customers. Those who didn't -- well, let's just say there are fewer telecom companies out there today, and this is a contributing reason for their ultimate demise.
We've written a white paper (titled Data Management Solutions) on effective customer data integration techniques. We are passionate about this topic because we've seen our customers benefit greatly from utilizing this tool to make their direct and database marketing efforts more successful than ever. Let's all become masters of our customer data environments! We promise it'll make you a hero!
Becoming the Master of Customer Data - To learn more about this author, visit Nancy Arter's Website.
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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