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.
How can customer insight help your business?
Predict your customer’s movements
Customer insight analysis allows you to identify patterns in their buying, learn about their business operation, including product lines and find out exactly what’s important to them.
So why is customer intelligence important? You can project where their company will move next and be one step ahead of your competitors bespoke messaging crafted by your marketing team. This should directly address their wants or needs. You’ll also be able to build stronger relationships with your customers as your conversations will always be relevant to them.
Data will help you make better business decisions
Big Data is becoming a valuable asset for almost every business. Your back office system data and the information in your CRM tool will give quality insights into your customer. The problem most businesses have is extracting the important chunks of information from all the ‘noise’ to give you the level of customer insight that you need.
So why is this important? Huge amounts of data are being captured every second. If you can make sense of this data you’ll be able to act upon it quickly and efficiently. For example, if you supply building products you may want to find out who has purchased bricks but no cement in the last 30 days and are based around Chicago. Armed with in-depth customer insight analysis you’ll be able to speak to the right customer, at the right time, for the right reasons.
Customer insight put to good use
Here at sales-i we help companies gather better customer insights by utilizing their back office data.
“sales-i allows us to take a detailed look at sales and how we interact with our clients. The knowledge we have garnered from using the system has allowed us to understand our customer’s needs far better than we ever could before.”
Michael Clark, President
Discover more case studies about how we’ve helped companies improve their customer insight.