Understanding your customers has never been more complex, or more exciting
Customers have changed more in the last 5 years than in the previous 10.
Consumers are evolving in ways we never imagined. And it's tough to keep up.
1 in 5 shoppers prefer to buy on their mobile phones.
Many More Choices
The number of e-commerce storefronts increased almost 40% in 2017.
59% of e-commerce best-sellers change monthly.
The average consumer receives 94 emails per day.
In this new world, winning will require a deep understanding of your customers.
The above chart from consulting firm McKinsey & Co shows that companies that make extensive use of customer analytics are more likely to report outperforming their competitors on key performance metrics, whether profit, sales, sales growth, or return on investment. For example, companies that use customer analytics comprehensively report outstripping their competition in terms of profit almost twice as often as companies that do not.
And before you ask (and we know you would if you made it this far) these results are not correlation (i.e., that more successful companies are in a position to spend more on analytics), they have been verified to be causal.
SO, WHAT NOW?
We call this new world of customer insights "Customer-Obsessed Commerce."
It’s a new era that’s all about how well you know your customer. It’s a new way of thinking. Instead of products and channels, Customer-Obsessed companies focus on the customer. The formula for growth lies in three fundamental principles:
Predictive Customer Insight
Unified data with a portfolio of predictive insights built for each individual customer.
Embedded in Every Team
Applications that empower marketers, salespeople, and executives to interact smoothly with customer insights, ask better questions, and make smarter decisions.
Across Every Touchpoint
Insights flow seamlessly through every customer touchpoint to drive maximum impact.
Custora has the resources you need to navigate this new era.
eBooks (and real books!), videos, and possibly puppet shows.