Think your customers love your value proposition? According to a recent study, eighty percent of you do. But only eight percent of your customers actually agree that you provide superior value!
Now that’s a sad state of affairs, for you and for your customers. It’s axiomatic that great customer satisfaction drives customer loyalty – which drives repeat business (revenue), and in turn – profit. One example: after following up on sales leads identified by loyalty surveys, CDW saw revenue increases of $230 million.
Just as important: any number of studies (here’s one from the Harvard Business Review) show a well-defined correlation between customer satisfaction and a rising stock price (as well as lower volatility in both stock price and cash flow).
Microsoft has been talking about using data collected on the Web to improve customer intimacy for a long time, since Peppers and Rogers published their seminal book on one-to-one marketing back in 1996 – twenty years ago! But back then constraints on server and storage capacity, and the lack of high-scale software tools, limited companies’ ability to know their customers.
Today, all that has changed. Using the resources available in the cloud – virtually unlimited amounts of cheap storage, sophisticated analytics, and machine learning, to name a few – it’s now possible to gain detailed, actionable insights as never before. We can truly know our customers.
Here’s an example: the largest sports franchise on the planet, Real Madrid, captures every interaction the championship team has with its fans: from the website to online merchandising to mentions on social feeds like Twitter and Facebook.
CLICK HERE to read the full article and find out how Real Madrid works with Microsoft to connect with over 450 million fans!