The value of Customer Intelligence (CI) should be understood company-wide. CI shouldn’t just drive marketing and customer relationship management (CRM). It’s a transformative business force that can be used to empower your workforce to make better, more customer-centric decisions cross-departmentally. In our recent e-Book,3 Part Framework for a Successful Customer Data Management Strategy, the three steps to becoming a Customer Intelligence-driven Business are defined:
In our latest blog we covered the importance of strategy. In this blog, we will review the second step, speed. More specifically, this portion of the series will cover the four key elements to quickly and effectively implement a Customer Intelligence (CI) solution:
This goes well beyond website clicks and looks instead to the buying behaviors, preferences, trends, and interactions that you can act on. It’s important to understand not only those critical actions but why they matter and their associated value.
You need to get a good grasp of the actual buying journey, and attribution of purchases by unifying siloed, disconnected touchpoints into accurate, timely customer data.
A good foundation will save you valuable time and resources by unifying data for analysis and decision-making. It will also help you apply a simple metric to customer information captured in stores to uncover costly employee errors.
Assuming you focus initially on a lot of these “core 4” data domains, determining which sources are of good quality should be relatively easy. Your transactional data likely has some rules that need to be applied to ensure that sales accurately reflect things like taxes and shipping costs, but may omit other things, like gift card purchases. (For instance, correctly accounting for employee loyalty cards versus customer loyalty cards in driving activities like segmentation.) A few days of up-front effort workshopping business rules will pay huge dividends later on. It can also become an essential component of the data governance work we described earlier. Once your rules are determined, you’ll want to ensure your solution is prebuilt with self-service reporting capabilities that allow for surfacing all of these business rules, so your end-users understand exactly how things are calculated. Your users will get more out of flexible, easy-to-use dashboards to eliminate reliance on IT and other departments to curate data. They’ll be better armed with the tools to uncover growth opportunities and make decisions with quantifiable outcomes on future spend.
Every company has unique considerations, but to get started, CCG recommends starting with the “core 4” business areas, spanning:
Beyond unified data, when everyone is working from a common solution, you achieve greater agility. Replace your disparate applications with a single unified solution that also ensures consistent and effective data governance. This naturally enables everyone to easily leverage integrated data from all internal and third-party systems for faster insights and less reliance on IT. To ensure you work with a flexible platform developed for the unique analytics needs of retailers, build on a world-leading cloud technology environment like Microsoft Azure. We recommend and use Azure Data Warehouse with Power BI to provide front-end reporting. The CCG CI solution implemented in a world-leading environment also allows for easier scaling of your business and fast implementation. In fact, with a solution like CI, rather than taking years to implement, you can be up and running in just 13 weeks.
As we’ve said, customer data is valuable across the organization. Every function within a retail organization — from finance to e-commerce to merchandising and real estate — requires a customer-centric view of data for better business decisions. And they work better when there’s access across disciplines and departments. Break down the barriers between departments by finding a solution that streamlines your data, providing self-service reporting tools, and enabling more cohesive strategic planning and execution for stakeholders, wherever they work. When, for instance, real estate can see purchase and location data, they can better identify, invest, and plan new storefronts to serve a growing geographic market.
Enabling your organization to ramp up effectively and efficiently is crucial. Identifying your strategy and then building a solution to pragmatically realize it quickly increases the chance of not only buy-in but the success of your solution. There is, however, one final step and pillar that is often overlooked in the implementation process, and that is scaling the project. Click here to view the next and final blog in the series on how to properly scale your CI efforts.
CCG understood our project needs very well, they are very responsive and we could not ask for anything more. The solution they provided fit perfectly with our expectations and business goals.GOP Data TrustChief Data Officer
I cannot overstate the delight we experienced from the outcome of our project. I would not only recommend CCG to any company, but question why they would engage with anyone but CCG.PgiDirector of Customer Success
Working with CCG is like working with extended team members. Consultants become an integral part of the work bringing expertise for cutting edge design and development.Hillsborough County Public SchoolsChief Information and Technology Officer
CCG's team is positive and eager. They are a great big bunch of wonderful people trying to make a difference.Hillsborough County Public SchoolsDepartment Manager
I knew CCG's technical expertise and dedication to quality results would be invaluable to our project success based on our past partnerships. We could not have implemented in the short timeframe like we did without their assistance. CCG is #1 on my speed dial for successful project implementation.InCommDirector, Financial Information Systems
It was evident from the onset of negotiations through the implementation that CCG took their role in the partnership to heart and we believe it has been instrumental in our success.Interval InternationalDirector of Marketing
CCG works very hard to understand and align with our needs. It truly feels as though we are on the same team!Fortune 500 HomebuilderBI Manager
CCG came to our company in a time of much change. Their team partnered with ours, continually delivering with professionalism and efficiency. We would not be where we are today without the expertise CCG brought to the project.PSCU Financial ServicesSenior Program Manager
CCG has a good industry knowledge, we are very happy that we chose to work with CCG. They have been a great help strategically and are helping us make important decisions.Minneapolis Public SchoolsHuman Capital Coordinator
Other Vendors use the word Partnership, but CCG actually means what they say. I can’t thank them enough for their professionalism and willingness to work with us as a true Partner, not just another vendor.PODSCIO
Our CCG Consultants are total rock stars: very thorough with a solid knowledge of the financial services industry. As a bonus, they are very easy to get along with – a great fit for our team.Raymond James Financial ServicesSenior Manager of Enterprise Data
CCG's team are all amazing. Thank you, CCG, for all that you do to make us great and keep our credit unions moving forward!PSCU Financial ServicesVP Enterprise Analytics & BI
Other Vendors use the word Partnership, but CCG actually means what they say. I can’t thank them enough for their professionalism and willingness to work with us as a true Partner, not just another vendor.PODSChief Information Officer
CCG's Team is very professional and responsive. They are making our job very easy.Rollins, Inc.Senior BI Analyst
CCG did an excellent job! Their team was very flexible. They gave us everything we asked for and then some.Rooms To GoSenior BI Architect
I'm amazed at the talent at CCG, not just the skillset - they're really good people. We've already referred them once and will do so again!Ruth's Chris Hospitality GroupCIO
CCG did a great job! We're extremely impressed with what was built in a short time. CCG has delivered ahead of time and with best practices, it's been a pleasure to work with them.VologyVP of Analytics
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