Put Your Data to Work to Attract and Retain Customers
What’s more important to your company than finding new customers?
Keeping the ones you’ve got.
Most companies rely on their existing customers for more than half their revenues. Retaining customers is simply good business. It’s cheaper to keep your current customers than to recruit new ones.
According to Return on Behavior magazine, losing one customer costs four times more than acquiring that same customer. Reducing customer defection rates by as little as 5 percent can increase profits by as much as 80 percent.
The best way to retain your customers is to keep them happy. McKinsey Research found that 7 out of 10 customers who switch to a competitor do so because of poor service.
To attract new customers and retain current ones, you need a deep understanding of:
- Who your customers are
- What they need
- What their relationship is with your company
- Why they continue or discontinue to do business with your company
In short, you need data about your customers.
Attracting and retaining customers depends on having access to comprehensive, accurate, timely, and consistent data. With this kind of data, your company can make informed decisions, offer the right products to the right customers, and provide the best customer service through any touch point.
Informatica can help build your customer base.
Data Integration for Customer Acquisition and Retention
To better target and market to, sell to, service, and support your customers, your company may be making significant technology investments. For example, you may be upgrading your sales, service, customer relationship management (CRM), or other application modernization projects Or you may be enhancing your business intelligence applications, master data management, or data mining solutions to better understand your customers’ interactions with your business.
Informatica offers data integration solutions to help companies better manage and share data about their customers. Informatica solutions help companies access, integrate, and deliver data—regardless of its location, format, and latency—to the systems and applications used to attract and retain customers. With timely, trusted, and comprehensive data, companies can:
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“Informatica has helped us control risk—the risk of losing customers, the risk of runaway costs, the risk of missing strategic advantage—all by unlocking our valuable operational data and making it available throughout the enterprise.”
Jeff McIntyre
Assistant Vice President of Technology Services, BNSF Railway | |