The popular phrase “you scratch my back, and I’ll scratch yours” characterizes the relationship between a brand and a consumer. The more time and energy brands invest into understanding their customers, the more customers will feel valued and “give back” to the brands they love.
Marketing departments and business intelligence are traditionally two areas of companies that have a rich supply of customer data, but operate independently. At Effective Intelligence, South Africa’s leading marketing and data analytics solution provider, we unlock the potential of customer data with business information in an innovative approach that can connect the dots between what customers feel, think, and say they do (Customer Intelligence), and what they actually do (Business Intelligence). These two valuable sources, once integrated, can result in extremely meaningful and actionable insights for any organisation.
Merging customer insights and business intelligence can create an unparalleled advantage for your business. How can Effective Intelligence assist?
1. You get the whole picture. Customer insights can help you get past the what to discover the why. For example, transactional data can tell you that a specific customer purchased girls clothes, plus men’s pyjamas and kiddies bubble bath. But why did they do it? Without asking directly, you can make assumptions about the purchases but you cannot accurately explain purchase behaviour.
Customer insights help you grasp the why to explain how certain purchases make their way into consumers shopping carts. Understanding the changes to customer preferences over time can help anticipate trends and keep shoppers loyal.
2. By personalising, you can avoid presenting things that will annoy your customer. Applying the right analytics will help you avoid sending irrelevant content to them. Jane only shops in store? Then don’t send her surveys about her online shopping experience. Jake has no kids? Then don’t send him information on a “back to school” promotion. Sending the right message to the right person at the right time creates the groundwork for a respectful relationship between you and your customer. Personalisation caters to the segment of ONE. Personalisation works on the premise that your company can send tailored content to customers based on available information such as age, gender, and income and purchase behaviour.
3. Set the pace and outlast the competition. Many companies have segmented their customer base into profiles as a once-off exercise. The trouble is that segmented customers change over time. A person’s financial status, for instance, could evolve. A company could also change, or they might develop new products to provide different price points. Marketers need to continually revise customer segments that the company can use to refer to the past, present and potentially future profiles of dominant customers.
Anticipating trends is imperative. Every company that is serious about growing revenue, aims to get closer to their customers. Effective Intelligence can assist you by unlocking rich insight to understand your customers to discover complete insights and behaviours. We are after all in the business of designing and fulfilling real-time customer requirements – that delight and retain customers and increase your revenue.
Effective Intelligence® is the market leader in developing and implementing proven analytical data intelligence solutions. We help extract maximum value from customer and business data to help our clients solve their enterprise business problems in areas including strategy, marketing, risk, fraud and operational data management. Combining experts in analytics, software development and specialist data practices, Effective Intelligence® offers organisations accuracy in strategic business planning by transforming data into insights. Effective Intelligence's proven intelligent software technology is the result of decade's worth of experience in innovative design and data quality specialisation that is built into the business rules and algorithms we employ. The architectural flexibility enables industry-specific solutions and departmental benefits that solve a wide range of business challenges. Since inception Effective Intelligence® has been recognised by prominent businesses as a trusted analytical data partner. Our diversified customer base includes several Top Performing companies, nominated Business Leaders of 2011, one of the largest private hospital groups in the world, one of South Africa's largest financial services groups, the top 5 non-food retailers and the two largest telecoms companies in South Africa. Our specialist data bureau processes hundreds of millions of data records annually and this substantial capability enables us to transform and analyse client data in order to provide faster results and insights into complex problems requiring appropriate business solutions and decisions.
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