customer intelligence tools Archives - Business Intelligence

Tag: customer intelligence tools

Winning Customer Mindshare in the Banking Sector with AI-Driven Customer Intelligence

Up to a few years back, retail banking customers had modest expectations in terms of banking experience and loyalty. In the last few years, however, the balance in which retail banking companies could succeed on their own terms has begun to shift under the pressure from changing customer expectations and preferences. Furthermore, new entrants in the banking sector such as fintech companies are also further pushing the boundaries for customer experience. Today customers increasingly expect interactions with their banks to be as sophisticated and personalized as the ones provided by industries like retail. As such, it is becoming extremely critical for banking sector companies to step-up their customer intelligence capabilities to better gauge customer needs and think beyond customer experience to a broader measure – customer mindshare.

Customers leave a lot of interesting footprints on the internet. Artificial intelligence (AI) driven customer intelligence solutions is a useful source for providing more insights and better automation for banking companies. Here some of the key reasons why experts at Infiniti think that AI driven customer intelligence could radically transform and simplify processes in the banking industry.

Customer intelligence is a powerful tool to boost sales and gain greater customer mindshare. Request a free proposal to know how Infiniti’s customer intelligence solutions.

Benefits of AI-driven customer intelligence in banking

customer intelligenceEnhanced personalization

Banks sell products in the form of loans, accounts, and investment service. The customer data collected in the process needs to be turned into useful insights in order to personalize and enhance offerings. AI -driven customer intelligence solutions will help banking sector companies to not just understand what the smartest recommendation is to enhance customer journey but also how to develop the most personalized products or services that can be delivered at the right time.

Customer interactions create abundant data for companies to act upon. Not sure how to turn it into actionable insights. Get in touch with our experts to learn how we can help your business turn data into dollars.

Improved trust and customer loyalty

Aggressive sales techniques no longer work well with customers, given the fact that they have ample options available at their disposal. AI-driven customer intelligence helps businesses to better transform their customer outreach based on customer behavior and preferences. Leveraging AI in customer intelligence solutions can also help businesses create meaningful conversations with the customers by identifying when they require banking related advice.

Capture opportunities

Whether it is a review or of a product/ service or customer feedback, any data of customer interaction is highly valuable for banking companies. This data goes wasted if customer intelligence based on AI is not used to curate and analyze data to identify missed opportunities. This allows for creating more personalized products and engaging interactions for the customers.

Learn how our solutions can help you stay updated with the latest retail industry trends

Retail customer intelligence

Building Customer Intimacy for a Global Fashion Retailer with Customer Intelligence Solution

Customer experience and satisfaction have come to the forefront across industries. As such, it is now imperative for companies to create a 360-degree view of their customers to know and respond to them in real-time with a highly personalized approach. When it comes to the fashion industry, which is one of the most volatile and rapidly changing sectors, staying relevant and exciting could prove to be challenging. Brands must keep constant tabs on how consumer shopping trends are evolving and identify the gaps before it’s too late. Those brands that fall behind from doing so often fail to thrive in the long run. Furthermore, with the world going digital, consumers are rapidly integrating tablets and smartphones into shopping. This makes integrating digital into business a key to optimizing the brand experience. Top fashion retailers turn to customer intelligence solutions to gain a better idea of how their customer shopping patterns are changing and identify what they need to do in order to adapt.

By bringing together customer, sales and inventory information from siloed applications, brands can benefit from access to powerful consumer insights for better decision-making across sales, merchandising, marketing, logistics and improve customer experience. Know how we can help you achieve this.

The client

The client is one of the most iconic fashion retailers having stores set up in 50+ locations around the globe. The company has been in business for over 40 years.

Business challenges

The client recently moved to an omnichannel model of business in order to keep up with the changing trends in the fashion industry. Despite this, they noticed a constant decline in their profits from online channels and also a dip in footfalls in their brick and mortar stores. They approach our industry experts to leverage our customer intelligence solution and identify where they lacked in keeping their customers hooked on to their brand and understand ways to enhance their profit margins. Using customer intelligence services, they wanted to:

  • Gain a single view of customers (including purchase history, feedback, and preferences) across different touchpoints
  • Identify issues faced by customers both instore and on online platforms and analyze ways to resolve these issues
  • Enhance their merchandising to suit the tastes and preferences of target customers
  • Formulate strategies to avoid strategies of stock-outs of excess stocks that can have a significant impact on the profit margins

Get in touch with an expert to know how we can help you solve key business challenges.

Solution offered

As a part of the customer intelligence engagement, our experts undertook a customer segmentation analysis to group different target consumers of the brand based on the touchpoints through which they interacted or purchased from the brand. Infiniti’s experts then followed a customer need analysis to better understand the needs of the target customers and gauge their satisfaction levels. This helped identify the gaps in service and products and gave the company a fair idea of their areas of improvement.

Apart from the customer intelligence solution, the experts also used demand planning and forecasting analysis to identify the optimal stock levels that the business must maintain in order avoid situations of overstocking or understocking or avoid supply-demand mismatch.  The client also gained comprehensive insights and strategies on how they can optimize their supply chain processes to better meet the demands of target customers.  

Business impact

The customer intelligence engagement helped the client in:

customer intelligence

Learn how our solutions can help you stay updated with the latest retail industry trends

customer retention

How Brands can Amplify their Customer Retention Strategies for Gen Z Consumers

Gen Z refers to the group of population who were born in the years ranging from 1995 to 2010. This generation is known to be the true digital natives as they have been exposed to the internet, social networks, and mobile systems from the earliest stages of growing up. Gen Z is projected to account for almost half of the total U.S. consumers by 2020. This means that brands now have a new set of customers to target whose needs and behavior are much different from their predecessors. As this group of consumers are nuanced and highly complex, tried and tested customer retention strategies often fail to win the loyalty of these young and powerful consumers.

The younger generation has become potent influencers for different age and income groups and even play an important role in the way consumers relate to brands. Gen Z consumers tend to value individual expression and avoid labels. They are also believed to make decisions and relate to companies in highly analytical and pragmatic ways. According to experts at Infiniti Research, brands must include the following tactics into their customer retention program in order to win over Gen Z consumer.

The increased access to technology has given young consumers an unprecedented degree of connectivity. For brands, this trend will bring both challenges and equally attractive opportunities. RFP to know how our experts can help you identify market opportunities and build better customer retention strategies.

Customer retention strategies for Gen Z consumers

customer retention strategies

Invest in loyalty programs

One of the most crucial customer retention strategies that forward-thinking brands must consider is to invest in a customer loyalty program. Otherwise, sectors including media, retail, beauty, and CPG are at high risk of losing customers to their competitors. Gen Z is more likely to be loyal to brands that have loyalty programs when compared to millennials.

Be where the customers are

Gen Z is known to be highly active on social media and other digital channels. So, brands must base their customer retention strategies around these platforms. These consumers are also equally active offline. They expect to be able to check the availability of in-store products online and vice versa. These consumers are more likely to research a product before actually making the purchase. By investing in customer retention strategies like loyalty programs, brands can incentivize across different channels.

Formulating customer retention strategies for Gen Z customers is much more complex when compared to millennials or Gen X consumers. Get in touch with us to know how Infiniti’s customer retention solution can help you identify strategies to attract and retain different customer groups.

Rewards for spend and engagement

Creating value by rewarding both spend and engagement is one of the most attractive customer retention strategies that top companies are looking at. Brands must ensure that their reward for spend strategy is frictionless across multiple channels. Such tactics are great customer retention strategies as they not only ensure customer engagement, but they also make things more convenient for customers.

Personalization using data

One of the key imperatives for effective customer loyalty and retention is to gain an in-depth understanding of the customers. To do this they need to continuously gather data about their customers across channels and use this data to identify customer needs and create better marketing strategies. Gen Z consumers are generally more willing to participate in surveys, provide their feedback on a service or a product, and socially connect with brands. Every brand that wants to capture the Gen Z audience must leverage data to offer personalization to customers and drive brand engagement and customer loyalty.

Learn more about Infiniti’s solutions for business

future of retail

Role of Customer Intelligence in the Future of Retail

“Winning brands in the future of retail will be those that have the best customer intelligence.”

The future of retail is closely intertwined with an evolving customer journey that is being largely transformed by technology. Today’s consumers are more connected and empowered than ever before, ergo they demand retail experiences that are relevant, real-time, and seamless from screen to store. To be successful amidst such changing retail scenarios, retail companies must have an in-depth and unified understanding of their customers at a personal level. This is where the role of customer intelligence comes into play.

What is customer intelligence?

Customer Intelligence refers to the information derived from customer data that is collected through both internal (generated through interactions with the customer) and external sources (demographic data like age, income, and occupation). The key purpose of customer intelligence is to better understand customers by analyzing their buying patterns and their key motivators of purchase to drive future growth of the business.

The future of retail lies in providing exceptional customer experience regardless of whether your store is online or offline. Request a free proposal to know how Infiniti’s solutions can help your business gain a deeper understanding of your customer base and choose the right strategies to cater to them.

Customer intelligence in the future of retail

future of retail

We have reached a point where the future of retail will largely revolve around customer experiences. Customer intelligence solutions play a vital role in helping retailers identify what their customers want and the best strategies to cater to customer needs. Retail industry experts at Infiniti believe that customer intelligence will be vital for the future of retail due to the following reasons:

Growing rate of informed customers

Modern customers have unlimited access to information. They also have adequate knowledge about a brand, their products or services, and also about the competitor brands. Study shows that a fair majority of today’s customers are more likely to shift brands within a week of experiencing a bad customer service. The future of retail will largely be dominated by demanding customers, and businesses that choose to ignore them will be risking a PR disaster. Customer intelligence is the best chance available for retailers to understand its customers and ensure better customer service.

Get in touch with our retail industry experts for more insights on Infiniti’s solutions for retailers.

Personalized rewards and discounts

Customer intelligence is a great tool for retailers who want to reward their loyal customers with personalized rewards and discounts. IoT will play a significant role in the future of retail to help retailers achieve this. Loyal customers can be sent personalized discounts using sensors located in the store.  These sensors can detect when customers are near certain products and then alert customers of a special discount via their smartphones. Such strategies of understanding customers and giving them discounts on the products that they regularly shop will result in customer delight and such techniques will eventually go mainstream in the future of retail.

Better supply chain management

Retail customers are increasingly demanding faster delivery of high-quality products. Customer intelligence solutions can help optimize speed and accuracy through the supply chain. With the help of customer intelligence retailers can predict what products will be in demand during a particular time period. Every component of the supply chain, starting from planning to production to the return can be optimized for efficiency in advance.

Visualize real-time market changes

Understanding the market and customer needs is one of the key challenges faced by retailers. In a crowded industry like retail, it means that even a tiny break in monitoring the market can cause a huge setback in terms of acquiring new customers, revenues, and ensuring overall customer satisfaction. Customer intelligence solutions provide retailers with actionable insights from a stream of steady data. The customer data lets brands comprehend broader market trends and integrate predictive analytics and best practices into their business.

Learn more about Infiniti’s market intelligence solutions and gain an overview of how we help our clients with tailor-made solutions to suit their business needs.

Weekly Round-up: A Storyboard on the Benefits of Customer Intelligence Solutions

 

LONDON: Infiniti Research, a leading customer intelligence solutions provider, has announced the completion of their downloadable resources series on the benefits of customer intelligence solutions. These free resources, which are available for free download, provide comprehensive insights into how organizations can better engage with customers and optimize the customer journey with the help of customer intelligence solutions.

The era of customer empowerment demands new tools to learn what customers want. In order to compete today, companies must look beyond data, using customer intelligence to arrive at actionable business insight. So, organizations are turning to customer intelligence to better understand their customers, drive sales, and optimize the customer journey. Infiniti’s customer intelligence solutions make it easy for businesses to indulge in strategic decision-making, enhance their brand strategy, and improve customer experience.

Ever wondered why you should spend time and resources enhancing customer experience? Well, most successful companies leverage customer insights to outpace the global competition. Learn more about Infiniti’s business intelligence solution.

#1: Tapping into Market Opportunities with Customer Intelligence: Understanding customers’ needs and preferences have become an important factor in determining business success. Today, many businesses offer products and services that are very similar in terms of features, quality, and price.  Have you ever wondered why some companies succeed while others fail?, This is primarily because, in this completely digitalized world, businesses are defined by what the customers say about their brand. Therefore, building a strong relationship with customers is imperative for organizations. Download our FREE resource to know why customer intelligence is inevitable for your business.

#2: Driving Business Value Through Customer Intelligence: No matter where your company currently stands, there are three fundamental steps that drive business success – knowing the customers, developing strategic insights, and acting on the developed insights. Customer intelligence can help organizations find new market trends along with new avenues and tools for customer relationship management. Download our FREE supplement to find out the key steps to master customer intelligence.

Most companies often find difficulties in understanding their customers' needs and preferences. Are you finding it challenging too?

Our solutions have helped companies enhance customer experience. Request a FREE proposal.

#3: How to Master Customer Intelligence and Drive Business Growth – A 5-Step Guide: Successful customer relationships are based on listening, appreciating, and acting upon customers’ needs and preferences. But gathering target customer data and conducting customer satisfaction surveys don’t help always. This is where customer intelligence comes into play. This is the process of segmenting customers according to their needs and preferences and taking initiatives to target individual customer groups based on their needs. This 5-step guide will help you build customer loyalty, gain a competitive advantage in the market, and improve bottom-line result.

We help organizations to identify the most profitable customer segments, measure the effectiveness of a marketing campaign, assess changes in customer expectations, and devise value maximization strategies to enhance their shares.

CONTACT US

4 Customer Experience Management Trends to Keep an Eye On in 2019

What is customer experience management?

Customer experience management involves managing customer interaction through both physical and digital touchpoints in order to deliver personalized customer experiences. This helps drive customer loyalty and boosts revenue. Although companies can make efforts to guide customer journeys, they cannot absolutely dictate it to customers. Customer-centric organizations leverage behavioral data, marketing technologies, and customer insights to optimize customer journeys and thereby ensure better customer experience management.

Request a Brochure

We, at Infiniti Research, use a combination of research, analytics, and data management systems to help our clients manage data, serve relevant content to target customers, and predict future interactions. Request a brochure to know more about Infiniti’s customer intelligence solutions.

Customer experience management trends

Several transformation triggers including globalization, digitization, and economic changes have the power to dramatically impact customer interactions with a brand and influence their decision-making. So, while formulation a customer experience management strategy, companies must take these factors into consideration. Here are four customer experience management predictions for 2019 from Infiniti Research:

Hyper-personalization at every touchpoint

 One of the key recent trends in customer expectations is the increasing need for personalization in product/services. Today, hyper-personalization forms a key element of customer experience and satisfaction. As a part of their customer experience management strategy, forward-thinking companies are using data and analytics for (near) real-time personalization. Today, customers are inundated with advertisements and multimedia content on different platforms. This makes it crucial for brands to not add irrelevant noise to their content, rather, define ways to stand out from the crowd.

Still have doubts on how customer experience management strategies can benefit your organization? Request a free proposal to find out!

Organization-wide customer focus

In most cases, hiring a chief customer officer is not enough to deliver impeccable customer experience. The most successful brands in customer experience management are those who establish an organization-wide customer-experience mindset. Top companies like Amazon are thinking about customer experience in everything they do including marketing, supply chain, infrastructure, logistics, and product design.

Robotic Process Automation (RPA)

Robotic Process Automation, also known as RPA involves the use of machines to automate repetitive and mundane tasks, helping businesses to increase efficiency and decrease costs. Moreover, this gives the human resources of a company to focus on tasks such as innovation, problem-solving, creativity, and customer experience management research and analysis.

Data ethics

One of the most popular customer experience management trends to watch out for this year is the rising need for data privacy and ethics. With the introduction of the General Data Protection Regulation
(GDPR) law that gives customers power over their personal data, companies have to be more cautious than ever on the compliance with such regulations. This law has changed the way companies handle customer data which has now transitioned from a business asset to the customers’ property. Facebook data ethics scandal in the recent past is proof that such instances can hurt a company’s image in the public eye and eventually lose customer trust. Customers want great customer experiences from brands they can trust. So, building customer trust by maintaining their privacy and data security is now one an essential customer experience management trend.

Know more about why customer experience management is important for your business. REQUEST MORE INFO

Weekly Round-up: A Storyboard on the Benefits of Customer Intelligence Solutions

LONDON: Infiniti Research, a leading market intelligence solution provider, has announced the release of their new storyboard on customer intelligence solutions and on how it has helped companies better serve their customer base and acquire new customers more effectively. Today, organizations often look at other successful companies, latest industry trends or new products launches by competitors to stay relevant and innovative in the market. But do you think just evaluating the competitors and latest industry trends are enough to stay competitive in the market place? Well, certainly not. The customers are the ones with the ability to determine your business’ longevity and progress. Hence, customer intelligence is a critical component of any business plan in all stages of growth.

Infiniti’s customer intelligence solutions have helped several companies in creating a powerful, personalized customer experience, and thereby improved their bottom line. Below we’ve collated some of our recent success stories on customer intelligence and have also highlighted ways in which our solutions have helped companies become market leaders.

Keeping your finger on the pulse of your market will help you maintain a proactive approach and successfully outgrow your competitors.

Leverage our customer intelligence solution. Request a FREE brochure to know more about our services.

#1: How a deeper customer understanding drives revenue and sales: Today, with the increase in access to information and high awareness level, the power to dictate the market trends have shifted from the companies to consumers. Hence, in an attempt to deepen customer experience, a business outsourcing company approached Infiniti Research. Infiniti’s customer intelligence solution offered a single view of customer data, which in turn helped the company to offer better services to their clients and subsequently enhanced sales and revenue.

Building a Customer Intelligence Platform for a Leading Business Process Outsourcing Firm in India

#2: Reigniting business growth for a media services provider: In today’s customer-centric business world, a media services company realized that understanding the needs of the customers isn’t enough to drive business decision-making. Ultimately, the outcome depends on predicting customer needs and actions even before they occur. This success story from Infiniti Research explains how our customer intelligence solutions empowered the client to identify key metrics affecting the brand value and sustain brand growth by tapping into  potential customer segments.

Customer Intelligence Assessment: Reigniting Business Growth with the Help of Brand Health Assessment for a Leading Media Services Provider

#3: Effectively launching new products in the Latin American Market: Launching a new product or feature becomes easier when you have adequate data on the customers. A thorough analysis of customer demands will heighten your visibility and avoid costly mistakes. To gather relevant insights into the customer buying patterns in Latin America, a medical imaging devices manufacturer approached Infiniti. Infiniti’s customer intelligence solution helped the client to analyze the customers’ data and successfully launch products in the Latin American market.

Customer Intelligence Assists a Leading Medical Imaging Client to Target Potential Customers in the Latin American Market

#4: How to use customer complaints to improve your business? Instead of perceiving the negative comments as a potential threat to your business, leverage them to improve your business. Not sure how? This success story demonstrates how an energy sources supplier was able to shape real-time customer interactions, deliver highly personalized offers, and subsequently address customer concerns with Infiniti’s solutions.

Customer Intelligence Assists an Alternative Energy Sources Supplier Address Customer Concerns

#5: Simplifying IT operations with customer intelligence solutions: Through an effective customer intelligence solution, an IT company wanted to improve customer experience and eliminate operational bottlenecks. Furthermore, the IT firm wanted to offer new services and simplify their IT operations. With Infiniti’s customer intelligence solution, the client was able to identify gaps in their organizational strategy and take accurate measures to improve the overall business performance.

Customer Intelligence for a Leading IT Services Provider Helps Simplify IT Operations

Wondering how to identify potential market opportunities?

Our portfolio of solutions can help you boost revenues and market potential. Request for a FREE proposal!

 

#6: Mastering customer intelligence in 3 steps: Today, companies have shifted to a customer-centric approach and have made customers an integral part of the entire business process. This compels organizations to leverage the valuable insights gained from customer intelligence tools to develop a proactive customer service frameworkand drive revenue and sales. Find out how to master customer intelligence for revenue growth.

Mastering Customer Intelligence in Three Steps

#7: Building an effective brand strategy with customer intelligence management: According to a recent study, customer experience management is one of the top three strategic priorities of 35% of businesses for 2019. An improved customer experience aligned with your branding strategy can help your business win loyal customers. Find out more benefits of leveraging customer intelligence solutions in this blog.

Leverage Customer Intelligence to Build an Effective Brand Strategy

#8: Top 4 steps to mastering customer intelligence: Infiniti Research reveals the top four secrets to master customer intelligence. The blog further explains why it is important to work towards creating a positive customer experience and some of the strategies that businesses must implement to improve both customer satisfaction and profitability.

Mastering Customer Intelligence – Because Customer is the King

#9: How customer intelligence is becoming a game-changer in marketing technology: With businesses emphasizing on effective customer relationship management, leveraging customer intelligence has become the key to ensure a successful marketing strategy. Organizations are increasingly spending a larger portion of their budget on marketing technology and other digital tools that help them improve and enhance the customer experience. Read this blog to know how customer intelligence is becoming a game-changer in marketing technology.

Customer Intelligence Is the Game Changer in Marketing Technology

#10: Targeting the right potential customer with customer intelligence solution: Infiniti’s customer intelligence solutions helped an automotive firm create a robust customer engagement strategy based on customer insights. Read this success story to know how our solution supported the automotive client to target  potential customers at the right time.

Customer Intelligence Study Assists an Automotive Parts Supplier to Understand Customer Behavior

CONTACT US

Close
Infiti Logo

Hello there!

Contact us to know more about our cost-effective custom market research offerings to support efficient market penetration, new product launch, and devise strategies to monitor and outperform your competitors.

Cookie Policy

The Site uses cookies to record users' preferences in relation to the functionality of accessibility. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice