A whopping 80% of sales comes from 20% of your existing customers. A pleasant first impression improves the likelihood of having clients become strong brand promoters. Acquiring new customers is no easy task, however a customer database can drive your business communications without you having to spend a fortune on lame, detached advertising.Ĭollect customer data by simply asking for it and reward that trust by communicating relatable discounts, events and other promotional reminders (e.g. Still not convinced? Here’s a breakdown on why creating a reliable customer database should be your top priority: That’s quite a repertoire, though once represented with the facts, the overwhelmingly positive results are hard to ignore. and increased data quality and higher revenue. 
visibility of customers and communication strategies. customer acquisition, satisfaction and retention rates. 
It’s a crucial mechanism when considering improvements to: Customer Data Management and How it Affects UsĬustomer Data Management (CDM) is the process of gathering, organizing and analyzing data about your customers. Correctly gathering data on customer and users deliver huge benefits to organizations across all sectors – which is why companies turn to new solutions in data aggregation that improve that performance. We’re now faced with new challenges be it cross-department communication, providing competitive customer experiences, or making critical decisions on the fly. “80% of a data analyst’s time is spent on just discovering and preparing data.”.“More than 70% of employees have access to data they should not.”.
“Cross-industry studies have shown that on average, less than half of an organization’s structured data is actively used in making decisions-where less than 1% of its unstructured data is analyzed or used at all.”. Though as the Harvard Business Review reports, most companies still remain badly behind the curve: The key to company success now lies in the ability to triumphantly manage streams of customer data.
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