At a GlanceCompanies have vast warehouses of customer data but few are
using much—if any—of that data to improve customer service levels. By
using advanced data analytics and incorporating that data into day to day
operations, companies could see a dramatic impact on their bottom lines.
Shortcut to:
Get More Out of Your Customer Analysis
The Proof Is in the Financial Impact
Share the Wealth
Accenture Has the Capabilities To Help Even after years of data gathering and terabytes of data
warehousing, there is undoubtedly more gold still hidden in your tons of
customer data.
Most companies across the communications and high tech
industries have a sufficient amount of customer data. They also tend to have
people in various organizations analyzing the data. Yet, the persistent
challenge is not just sifting through and pulling out more manageable,
meaningful information that creates business intelligence, but rather, making
this information available to all customer operations touchpoints—where it can
be used to acquire, retain and improve customer relationships.
By integrating customer data analysis into the day-to-day
marketing, sales and service operations, you can gain significant value from
your customer data that can help drive new sales and lower costs without a
hefty investment.
Get More Out of Your Customer Analysis Communications & high tech companies often use
analytical modeling solely to support the strategic analysis of markets and
customers. This is due in part to the complexity and limited resources
available to perform this function. The cost and effort to use this capability
in the day-to-day operation has often proved to be too great. Yet, as the
marketplace has become more dynamic and the channels available to customers
more numerous, the need to use customer information consistently and
effectively in the operation has grown.
Companies are now looking to move toward a robust set of
operational data analytical capabilities to gain customer insights for business
intelligence that help meet growth and profit goals. The good news is that
there are now better tools and techniques for managing and mining data. These
tools have been proven in the marketplace to reduce time and effort required to
generate and deploy customer analytics across customer operations.
The principles of customer data analysis haven’t changed.
What has changed is what is expected from this capability. Typically companies
are performing customer analysis to understand the following:
- Customer Characteristics—Do
I understand and can I describe my customer base? What does it look like? What
are the demographics, locations, income, etc. that create a picture of my
customers?
- Customer Behavior—Do I
know what my customer is going to do next? Can I predict what they will buy?
How much they will pay? How they like to be served?
- Customer Value—Do I know what my
customer is worth to me now? What their potential worth is? Do I know who is
worth keeping and who is not?
It is no longer sufficient to know the answers on a
periodic basis when assessing marketing strategy and product planning. You need
to know the answers every day and on every customer contact. This is what
customers expect and this is what shareholders expect you to do to maximize
sales and service performance. By being able to answer those questions, at any
point in time, you will get higher performing campaigns, more productive sales
channels and more effective service interactions—leading to happier, more
profitable customers.
By using advanced customer insight techniques integrated with
customer operations, companies are gaining significant economic benefits:
 - 10 to 20 percent reduction in customer churn.
- 5 to 10 percent increase in revenue per customer.
- 15 to 40 percent increase in campaign response rates.
- 10 to 30 percent improvement in telemarketing sales yield.
- 20 percent faster speed-to-market for campaigns.
The Proof Is in the Financial Impact The proof is compelling. For example, the outbound
telemarketing sales organization at a major wireline communications company
integrated customer analytics into its existing marketing and sales processes.
The telemarketing centers that applied new scoring and calling strategies
reaped an increase of at least 30 percent above the expected customer response
rates. In a similar effort, a wireless communications company saw an average 50
percent increase in its campaign return on investment.
Share the Wealth Uncovering the value hidden in your data is just the start.
To make the most of it, share it with your customers when you market, sell, and
service them.
C&HT companies need to establish a clear vision for
making customer insight and data management part of every aspect of customer
operations. Quite often the data and the core technical capabilities are
present to make the vision happen.
Selective application of improved analytical technology and
data management services can close efficiency and technology gaps. However, the
most critical effort is making sure that the operations processes and personnel
at the customer touchpoints are trained, aligned, and given proper incentive to
use customer analytics effectively.
Accenture Has the Capabilities To Help How confident are you that your customer-facing operations
are getting the most from your data and customer analysis investment? How can
you improve your operation to use customer information more effectively? Could
integrating data mining and customer analysis into your customer operation
improve your bottom line?
Accenture is ready with the experience and capabilities to
help you quickly maximize the value of your data, tailor your offerings,
optimize customer treatment and improve your business performance.
Contact us for more information about Accenture’s customer relationship
management solutions.
About the Author: Todd Wagner is a
partner in the Customer Relationship Management capability group deployed to
the Communications and High Tech group.
To Top |