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:: CMO Study: Wanted - More Customer Information
In a recent study completed by the CMO Council, “Select and Connect: Strategies for Targeted Acquisition and Retention”, it is apparent that while customer-centric programs are on the rise, and there is more pressure than ever to build and create “technically sophisticated organizations that deliver precisely tuned acquisition and retention programs with measurable investment returns,” the customer information needed to create these programs are lacking.
Findings include: |
- Marketers appear surprisingly detached from their customers
- Three top factors prevent optimal customer insight and intimacy: data and system integration requirements that are too complex; competing departmental goals and personalities; and an under-appreciation of such efforts with the company.
- While many report an overwhelming reliance on their CRM systems for customer data, 40% of all respondents rated their customer data systems as “weak” or “very weak” – this includes the timeliness and depth of transactional data; the availability of useful data, reports and analytics; and the relevance of available data to marketing strategies.
For the full study click here.
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