Customer insight is the understanding of your customer, based on their buying behavior, their experiences with you, their beliefs or needs. Customer insights go beyond raw data or research, it is a multi-view of your customers derived from a strategic analysis of qualitative and quantitative data
When you’re looking for ways to grow your business, you could do worse than using tried and tested upselling or cross-selling techniques.
I know. You hate to hassle your current clients. But it makes good business sense, as the cost of upselling to existing customers is so much lower than going out on the hunt for new business.
Conversion rates are usually 16x higher and if they don’t buy anything additional, your call will turn into an account management one
As a manufacturer, wholesaler or distributor, 80 – 90% of next year’s revenue will come from your existing customers. Knowing which customers are at risk of leaving, could be buying more or are true advocates of your brand is an essential part of a successful business. To gain insight, you need to apply a customer health score to every account. You may already do this with a red, yellow, or green system