[Webinar] 6 Ways to Find & Keep Your Best Customers with Big Data
How can companies navigate prospect and customer data to find and keep their best customers? Gainsight joins forces with Radius in a not-to-miss webinar to answer this question.
Find Your Best Customers
Radius’s marketing analytics software helps businesses determine which attributes define their best customers so they can deploy campaigns to new markets. Radius analyzes your customer base against hundreds of unique filters, and determines which filters are most likely to predict buying patterns for that specific client.
The perfect customer looks very different for every business. While there are no one-size-fits-all category filters that define the best customers, the following metrics are good foundational filters:
1. Web Presence
Radius evaluates businesses on filters like presence of a website, Facebook page, Twitter account, Foursquare listing, etc. A business’s likelihood to build an online brand reveals a lot about its stage of growth and willingness to innovate. Businesses that don’t have websites are more likely to need online consulting services and less likely to respond to Facebook and Twitter advertising, for example. Adoption of the latest social media trends often indicates growth.
2. Community Engagement
As businesses build online presence and engage with customers through online networks, we can learn a lot about business’ relationships with their communities from their online reviews, the volume of their social media fans, and the content of their social media posts. Businesses with engaged customers, and who engage back, also respond when presented with opportunities to work with other companies that can help them grow or make their day-to-day more manageable.
3. Revenue Relative to Employee Count Technology Sophistication
Businesses undergoing change tend to be better prospects than businesses that are satisfied with the status quo. For example, businesses that are growing are often ripe prospects because they need resources to enable growth. The level of technological sophistication at which a business operates can reveal its status as growing, declining, or staying the same.
Keep Your Best Customers
Gainsight delivers a complete Customer Success Management solution to help businesses reduce churn, increase up-sell and drive ongoing customer value. We integrate with Salesforce (or your CRM of choice) and use Big Data analytics to evaluate sales data, usage logs, support tickets, surveys and other sources of customer intelligence.
Using this Customer360 view, you can automate workflow and actions to intervene in at-risk or growth opportunity scenarios. Data science and predictive analytics augment company intuition and best practice to make each interaction precise and impactful.
Customer interactions and value delivered vary for every business. The following data sources will help determine WHEN and HOW your team can deliver and show the most value:
1. Product Usage
How customers use and engage with your product is a key metric of success to track in Gainsight. During the critical onboarding period, your implementation and support team will know when to swoop in to nudge adoption and first value along. With more mature customers, your product team can analyze patterns to improve product usability and intuitiveness. Marketing and sales teams can identify advocates and growth prospects.
2. Company Health
Gainsight has made key investments in building out your Customer360 view with much more than just usage data. Data from support, community, billing, and external sources like Linkedin reveal the heart and soul of your customer so you can act on a sponsor change or customer company announcement (e.g. funding, M&A).
A key feature of ongoing customer relationships is how health or other patterns change over time. Beyond the snapshot of a point in time, Gainsight delivers robust trending analytics (drillable and sliceable) to ensure no one slips past the cracks (e.g. a gross high-usage customer with a percentage decline in activity).
Big data has turned the revenue funnel into an hourglass. Your current customers contribute as much, if not more, to your bottom-line and company growth. To deliver continuous success, and improve up-sell and cross-sell, start using Big Data today.
The conventional marketing handbook dictates that when your pipeline runs dry, you need more leads. However, as we learn more about the businesses and consumers that buy and use our products, we don’t simply need more data or better data–we need to better understand the data we already have.