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What is Customer Analysis?

What is customer analysis? Customer analysis is a critical component of any business plan in all stages of growth. When you analyze your customers, you define who your target market is, and decide how you'll reach them. A recent article in Forbes stated that 81% of enterprises rely on analytics to improve their understanding of customers. Where will you start?

Customer analysis is vital to any effective business strategy. If a business doesn't know who its customers are or what its customers want, it can't meet customers' needs. A customer analysis will do three main things:

  • Identify the target customer
  • Understand the needs of the customer
  • Show how the company's product or service meets the customers' needs or wants

Fielding Customer Satisfaction Surveys Isn't Enough

To better serve their customer base and more effectively acquire new customers, organizations need to delve into the details of individual interactions to understand the relationship between each customer touch point and the value it delivers to customers. 

A recent Forbes article stated: "According to a recent KPMG survey of C-level executives, 92% are using data and analytics to gain greater insights into marketing."

Time and again we see companies waste money chasing new customers while taking for granted the opportunity to engage the ones they already have. CMG is able to provide you with a better customer analysis, including a better understanding of the needs and wants of your current customers.  Specifically, we determine what they love about you, what they don’t, what made them your customers in the first place, and why they keep coming back or keep leaving.

Before Turning to the Customer, Evaluate Your Team.

At CMG, we don't settle for the top-down approach to customer experience (CX). In order to truly transform CX, businesses have to change the DNA or "operating system" of company culture. Our approach to CX is to start with the CMO taking on a leadership role to share results and explain how employee involvement with the customer experience is beneficial. 

Customer analysis is important, but evaluating CX from within first — through cross-functional teams — is key. When everyone is on board, you can rest assured that you're all marching in the same direction toward a unified customer experience strategy. 

Move Up and To the Right with CMG

Are you ready to not only embrace change, but create it? Learn how to use customer analysis to your advantage and empower leadership to activate CX from within. Unleash your market potential with CMG

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Sources:

http://www.cmgpartners.com/thinking/articles/the-customer-lens

http://www.cmgpartners.com/doing/customerignition

http://www.forbes.com/sites/louiscolumbus/2015/07/26/81-of-enterprises-are-relying-on-analytics-to-gain-greater-customer-insights/

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