When it comes to deciding on marketing budget and marketing strategies, the marketing executives pull up last year’s marketing cost, customer growth, and revenue; and depending upon the next year’s targets (which are mostly set by the top management), the ...
“It’s not the customer’s job to know what they want.” - Steve Jobs Back in the days when there were no automobiles, if Henry Ford had asked people what they wanted, they would have said “faster horses.” Companies cannot innovate by asking people what the ...
“Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.” - Steve Jobs As a growing company, you understand the importance of bringing in new customers. But do you know if you're fully lo ...
“The goal as a company is to have customer service that is not just the best but legendary.” – Sam Walton Over the past 100 years, a lot had changed from when firm owners knew customers by their name, individual needs, and personal preferences. Customer ...
Every customer has his/her own needs and preferences. These needs drive customer buying behaviour. Customer experience is a critical factor that determines the referral and brand advocacy from the customers. Everything falls into place once their ex ...
Every business needs new customers to grow. Some of these customers continue to buy the business' product and soon become a valuable part of the company. While acquiring new customers are important, companies also tend to focus on retaining their loyal cu ...
For businesses to flourish, they need to constantly acquire new and valuable customers. The process of bringing in new customers is called customer acquisition and is a part of customer analytics. While the process sounds simple, actually acquiring cus ...
Cohort analysis is a technique used in several analytical methodologies, including customer analytics, for dividing users into groups with common characteristics. Analyzing these groups, or cohorts, can help companies understand user behavior. Cohort a ...
Customer segmentation is a methodology under customer analytics used to group customers or products with similar characteristics into meaningful segments. The process allows companies to target customers better and serve them in a more fitting manner. ...
One of the business problems we encountered a while ago involved identifying customers who subscribe to a company's next best product, neural networks can help us determine that. There was tremendous customer data and a plethora of information hidden i ...
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