While the sales department can contribute many significant data points courtesy of demographic information stored in the CRM system, as well as how different types of customers engage with the company at various stages of the sales funnel, many leaders overlook the fact that customer service data can yield important insights as well. They deal almost exclusively with people who have already made the decision to purchase, and who have returned to the company because they have some additional issue that needs to be addressed. By studying demographic details of the buyers who contact customer service, marketers can integrate this information into the overall marketing strategy and address these customer issues with associated personas.
Integrating customers’ perceived value into the data stream
It’s possible that no one in the company has a better ground-level understanding of how customers perceive the value of the product than customer service professionals. When a customer purchases a product and has questions, concerns, or comments, customer service is usually the first department to hear about it. The difference between the value of the product’s benefits from the company’s perspective and that of the buyer is known as customer perceived value (CPV). Gaps in CPV can indicate that the marketing department is having a difficult time finding customers who are the right fit for your products.
If you find that gaps in CPV align with demographic and behavioural data relating to one or a few of your established buying personas, then marketing may be able to use this information to reevaluate whether leads who fit in that category are still a good fit for the company. Customer service has the advantage of tying this value gap to real features and functions of the product. This information, along with demographic and behavioural data, can be crucial for marketers to determine why some buyers may perceive the value differently.
Unlock the secrets of customer satisfaction to drive loyalty and repeat purchases
Marketers are always looking for leads that have a high chance of conversion, and the odds don’t get much higher than a previous customer who was highly satisfied with an experience. Sure, the customer service department can teach the marketing team important lessons about customers who felt that their experience lacked something. But it’s just as important to analyze data from buyers who were thrilled with your product and will likely return in the future.
For most marketing departments, customer acquisition cost is one of the core metrics they will report to the executive leadership team. Since it is widely known that repeat customers are easier to sell to than new ones and on average represent a higher customer lifetime value, it makes sense to turn to the customer service department for insights about what clients appreciated most about their buying experience. These insights can then be integrated more concretely into various marketing materials, whether through content strategy, social engagement, SEO, or other methods.
Repeat Customers are Your Key to Success
- Purchase Frequency: The number of times an average customer buys a good or service from a single seller in a given time people
- Your Repeat Customer Rate is the percentage of your current customer base that has come back to make a second purchase
- Influenced by your customer retention efforts
- A good indicator of the value you provide to your customers
- Depends on industry, but 20-40% is a good goal