The so-called “switching economy” means that customers are far more likely to change to a different brand if they experience disappointment or dissatisfaction with a product or service. Gone are the days when even the most powerful brands can rely on unwavering loyalty from the consumer who is generally less loyal and more discerning than they’ve ever been.
Customer experience is cited as the new battleground when it comes to winning new business but it is also about getting maximum insight about the different groups of people that make up the customer base or who are on the company radar.
Technology allows organisations to get closer to the customer than ever before. It helps them collect data on who’s buying, what they buy, where they buy, when they buy and why they buy. It allows organisations to take customer insight and segmentation to an entirely new level and, when combined with customer interaction activities, allows organisation to shape and tailor their approach far more effectively.
Rialto customer insight experts work with clients to deepen their knowledge of and relationship with their customers to better understand their motivations and behaviours when it comes to purchasing. Work includes:
As with customer experience, the aim is make the customer core to the business. Information gathered means that sales and marketing decisions and strategies are based on real behaviour, values and attitudes rather than perceived ones. It also means that rather than a one-size fits all approach, organisations can tailor their approach and strategies to the differing customer groups.