The Customer Intelligence Movement
Conversations about making CI a reality
- 8 Topics
- 6 Replies
If mitigating churn is a top priority for your organization, you’re in good company. And for good reason! Churn costs organizations billions of dollars annually. But with the power of AI and a burgeoning understanding of Customer Intelligence (CI), we can do more than simply reduce churn – we can crush it! Let’s consider a few of the most effective ways… Focus on customer value.Reduce churn: Customers churn because of a lack of perceived value - they can easily see their spend and resource costs, but not always the positive outcomes of your products or services. CS leaders have long understood the importance of making sure customers both get and recognize the most possible value from products or services. Now crush it! CI lets us take this a step further by using data to see exactly where customers’ recognition of perceived value is waning, what products, features or services they are failing to optimize, and where you can provide more personalized support. Listen activelyReduce churn
With the vast amount of data at our fingertips, it’s tempting to measure everything. Because of this, many organizations suffer from a ‘more is better’ mentality. Organizations want to capture everything to make sure that they’re not missing anything. But, in doing so, they end up seeing noise and no signal!When building an impactful customer data model, keep these 3 things top of mind: Not all data is important Not all data drives insights Not all data that matters to you matters to your customers The most important consideration when selecting metrics for your data model are their actionable properties; can your team actually do something about this data? If not, it may just be a vanity metric. If you fall into the trap of including everything and anything, you’re inadvertently overwhelming your CSMs with data that they can’t do anything about and that may end up distracting them from directionally relevant data that will actually help them reduce churn and drive more value for
There’s both good and bad news when it comes to data today. The good news is that today’s technology gives us access to unprecedented amounts of customer data. The bad news is that we’re not all utilizing that data to deliver the best possible outcomes for our companies. Many businesses use customer data incorrectly. Others have incomplete data, prohibiting them from taking the necessary actions that would actually change customer conversations. The Challenge of DataCollecting and utilizing the right data can be challenging on several levels:How do you aggregate the right customer data? How do you get the insights that drive better customer conversations? Does the data tell you about the strength and the health of your customer relationships? As a Customer Success professional, can you do something with the data to change the trajectory of your customer relationships? How can you use the data to create excellent customer experiences so that when renewal time comes around, you are in
Hello CI.ty members! I’m the Chief Strategy & Customer Officer at involve.ai, and would love to connect about the various ways we've all become interested in the Customer Intelligence movement. My own journey toward CI...My interest in Customer Intelligence started years ago, but I didn’t have a name for it. I was the CCO at Glint, now part of Microsoft and LinkedIn, and our CS team was exceptional. But as our customer base grew, so did the feeling that we weren’t using available information to its fullest in our quest for customer intimacy.We were investing in terrific platforms -- Gainsight, Zendesk, Skilljar and inSided, and of course our own product -- and each delivered mountains of data. But even with a CS Ops team, we didn’t have the capacity to identify insights and take action holistically; any data analysis was very manual and time-consuming. We had other things we needed to get done; halting to analyze the data (which would quickly become outdated) felt futile. When I f
An interesting article that crossed my path today by Tammi Warfield, Chief Customer Officer of Delphix in Customer Think.Tammi says "best CSMs were the ones who possessed a high degree of empathy and an intense desire to help customers find value. Their success was so closely tied to their customer’s success that it was hard to separate the two."I really liked what Tammi says about women sales leaders: "Women-led sales teams deliver higher win and quota attainment rates than their male counterparts."Definitely a great read. Highly recommended https://customerthink.com/why-customer-success-and-women-are-the-future-of-sales/
This was a great read this Saturday morning. Takeaway, increase the touch points along the entire journey. What is your take? "This strategy requires B2B companies that have adopted customer success (CS) technology to transition their CS programs from solely focusing on initial interactions and end experiences to a new model that consistently optimizes the entire customer journey.""The secrets to Apple and Tesla’s customer success are finally attainable for B2B businesses | VentureBeat" https://venturebeat.com/2022/05/06/the-secrets-to-apple-and-teslas-customer-success-are-finally-attainable-for-b2b-businesses/amp/
Most business functions have historically had access to customer information. Many are now taking the next step: Customer Intelligence (CI). CI takes customer information to the next level, using it to uncover insight about customers’ behaviors. How does CI help different roles?As per the recently published involve.ai white paper, What is Customer Intelligence?, CI has long been integral to Marketing and Finance teams, supporting targeted, relevant campaigns and predicting ROI of particular initiatives.However, as subscription services and SaaS have become a dominant business model, and as technology like involve.ai has become capable of delivering quick, accurate insights, CI is quickly becoming not just relevant, but essential to virtually all functions. Revenue / Ops - A deep, predictive knowledge of customers’ behavior, allows this team to prepare for or raise alerts about changes to Annual Recurring Revenue (ARR). Office of the CEO - Corporate executives are responsible for holi
Already have an account? Login
Now entering the CI.ty...
No account yet? Create an account
Enter your username or e-mail address. We'll send you an e-mail with instructions to reset your password.