What are customer insights?
Understanding customers' buying habits, preferences and how they change from order, communication and behavioral data, to guide sales and service.
In detail
Customer insights focus on “whether customers are changing”: whose purchase frequency is dropping, who is starting to buy new categories, whose payments are getting slower. Passing these signals to sales in time lets them step in earlier, instead of only noticing once the customer has gone.
For example
The system notices that a long-standing customer has bought only low-priced products over the past three months and prompts sales to get in touch and find out why; it turns out the customer is comparing competitors' quotes.
How companies use it
Combine CRM and order data to define a few key signals for priority customers, and send them regularly to the account owners.
Common misconceptions
Looking at data without talking to customers. Data can reveal change, but the reasons often only emerge from a conversation with the customer.
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