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We often have a conversation with clients or prospective clients about their desire to go to the "next level" and how we can help them clarify what that means to them and their business.  A major part of that conversation is knowing where your business currently stands, and that leads to an understanding of what you already know about your customer.

Customers are more complex - and harder to understand - CRM-Strategy-Sage-SalesLogixthan ever.  We have had several years of economic upheaval, new technology bursting on the scene almost daily, and changes in buying habits.  Customers are more demanding and much better informed, with such free access to information. Customers are the ones empowered. 

Their loyalty seems increasingly elusive. They look for faster solutions, but also strive to find a long-term business partner - one that provides value by addressing their needs and desires.

Change breeds uncertainty, but having a trusted set of systems and processes that provide customer analytics is an emerging competitive advantage Customer analytics derived from anCRM-Analytics-Better-Decisions integrated framework can help direct your organization's growth agenda.  Knowing more about your current customers and the reasons they buy, the reasons they remain loyal - are part of the insights you can capture to shape better decisions, faster and easier.

Analytics can deliver a significant payoff. Research confirms that high-performing businesses are 5 times more likely to use analytics strategically than low performers.  Note: PDF download.

Turning data into actionable insight is increasingly essential - and increasingly difficult. Next week and in future articles we'll delve into principles and tools that are effective in launching or extending your customer analytics initiatives. 

By knowing your customer better you gain a competitive advantage.  Having a  customer-centric mindset and strategy is the foundation, and a CRM system is the enabler to get your business to the "next level."

 

Related articles:

Customers are changing - how are you relating to them?

Conversations, Community, and Content - Social vs. Traditional CRM.

Making Better Decisions and Business Intelligence topics.

       Part II Analytics as a competitive advantage

Powerful analytical tools can help foster customer loyalty, improve the return on marketing investment, and generate new, more profitable revenue streams.

 

What are other benefits you can obtain from knowing your customer and gaining a competitive advantage?

  

Topics:   Appreciating Asset Better Decision Making Business Relationship Development Strategic Business development

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