Analytics Provide Means to Ensure Customer Loyalty

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Personalized customer interaction is fast becoming a necessity of maintaining and growing a business, and in order to provide the best kind of interplay, organizations need to make use of data. In a recent article for Information Management, contributor Narendra Mulani discussed the importance of using analytics to enhance customer interaction.

“In a fragmented and diffuse world, consumers have far more choice, unprecedented access to information and much higher expectations,” Mulani wrote. “They also find it easier to switch from one provider to another and are exercising that prerogative with increasing frequency.”

In order to engage the consumer, businesses can make use of an online database application to track and manage customer interaction. Mulani explained that analytic insights are essential across all levels of an organization. In order to establish customer loyalty, each individual needs to feel as if they are the center of attention during all interaction.

In order to do this, Mulani maintained that analytics need to be utilized at all possible channels, which can help ensure that valuable information is being used to create special offers at the right time for the right customer. Furthermore, using an online database, businesses should be able to take valuable information from a single purchase and use it to inform the next potential purchase. For example, Mulani indicated that if a customer buys a baby carriage, there should be clear signals about what future purchasing activity will be.

In a recent article for DestinationCRM, contributor Steve Kraus expressed that if businesses are not making use of data to understand the customer, they risk losing them to competitors.

 

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