In today’s information age, it pays to get to know your customers. Today, businesses of all sizes are collecting customer information and leveraging data analytics to know and serve their customers better. When a
company knows who their customers are, what they buy, where they buy, when they buy, and who they are in everyday life, marketers can anticipate customer needs to provide the right products and services, at the right time. This is what we call 1:1 marketing.
With the prevalence and immediacy of data today, customers expect companies to know them, show them that they know them and show them they appreciate their loyalty. But customer engagement driven by customer analytics today can go beyond just relevant customer loyalty marketing. It can also inform and drive enterprise operations in the process of serving customers better.
As businesses drives higher profitability, they should not only aim to collect consumer information, but also facilitate back-end advanced analytics to identify what their customers’ needs are and how they can best serve those needs.
Customer analytics helps companies gain insights into their customers such as, who are our customers? What is their value to the company? What products and services do they buy and when? Who are they in life? How else can we better serve customers?
