While every business is different, it seems like every business, whether large or small, has the same problem: How to attract and retain customers. You may call your customers – clients, patients, recruits, or students… Every day, businesses ask themselves questions like:
All of this information taken together is the customer IQ. But how do you collect it efficiently - where you know you're capturing the right information, and so you are not wasting time on it? Ultimately, does it help you run your business better and more profitably?
In order to answer these questions, your business needs information from its customers. Without this information, how can your business make informed decisions?
The good news is, your customers are providing you with bits of information all the time… All you need to do is listen. Luckily, we now live in a digital universe of customer communications. For example, a small business typically gets started by buying a domain name for their website, sets up email accounts, and publishes the website to attract customers. Once the basics are taken care of, social media and e-newsletter come next.
More mature businesses most likely do all of the above, plus they use a sophisticated Customer Relationship Management (CRM) system like Salesforce. They most likely have dedicated customer service reps, and use advanced systems to manage marketing campaigns, prospect opportunities, customer cases, and invoices.
But how do these systems actually help you better understand your customers? They don't tell you how interested your customers are in the product or service you’re offering. They don't let you know if customers would recommend you or buy from you again. And they don't help you speak to customers in their language. However, these systems do help you organize and classify your customers, which is a fundamental first step.
Please don’t say data… Yep, we said data – sorry...you knew it was coming.
To compete and scale, your business needs to put data to work - analyze it so you can make informed decisions and predict outcomes. Even if your business has a small monopoly with a unique product or service, data means business intelligence. Business intelligence means running smarter and customer intelligence means you are the best at marketing, selling, and servicing your customer base. You speak their language, they understand you, and you understand them. So whether you’re protecting your monopoly or trying to disrupt one, customer intelligence is imperative.
We’re not talking about "Big Data" here. We’re talking about small data. We’re talking about how even the smallest companies can get Big on data. Better still -- We're talking about how these companies can do it without spending thousands of dollars on custom software, hiring 5 data entry clerks and 2 business analysts, or micro-managing employees about their TPS Reports!
Having a high Customer IQ is of course understanding who your customer is, what to sell them, and how to keep them buying from you. However you currently handle data, the simple fact is that all companies pursue their customers based on who they are:
People are unique, however their motivations are often predictable. Data can give you the information you need to inspire and influence customers to buy, yet getting it doesn’t need to be painful or even that sophisticated.
These are the underlying principles of ZynBit Customer IQ. Simply connect it all – email, website, social, CRM, and accounting. Customer data is complete and accurate, you’re measuring what matters, you truly understand your customers, and your teams perform with precision.