Customer insight is currency

Peppers & Rogers report on a SAS survey:

Measuring and adapting to customer insight is more than good strategy. It’s money in the bank.

It’s 25 percent more money in the bank, to be exact, according to the findings of a newly released benchmarking study, "Building the Marketing-Ready Enterprise" from SAS, the American Marketing Association, and the Aberdeen Group. The study of 600 AMA members found that proactive monitoring of customer behavior, rapid response to that behavior, and predictive analytics led to 25 percent higher annual customer profitability rates.

"The key thing for organizations to take from this is that there is a tremendous amount of relevancy in analyzing customer behavior," says Alan See, marketing director of SAS’s customer intelligence practice. "But what concerns me is that a lot of companies are still hedging their bets. They’ve figured out that they have a lot of data about customer behavior, but they still hold back on responding to it."

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