why the key is in the data

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The most successful companies are not only more focused than ever on the customer, but they know that this needs accurate and practical information. That's what a strategist of customer retention that, despite taking different forms, depending on the company, part of the need for a single view of the customer and needs a combination of a number of factors that can effectively transform your experience.

customer retention

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But, to achieve the objectives set for customer retention, it is not enough to have the right data, it is also necessary to ensure management-driven strategic alignment, have the ability to measure the progress of the initiative and achieve quality collaboration between companies. . and you.

What does customer retention mean??

Customer Retention this is the name of customer retention in English. It is a business strategy aimed at promoting customer loyalty through customer satisfaction, something that should be obtained in each of your experiences and interactions with the company and its products.

When a customer retention strategy is successfully implemented, rotation and abandonment stop, which prevents customers from going to the competition.

How is customer retention achieved??

To succeed in customer retention strategy, a company must do everything feasible to deliver the customer experience that the customer expects. How to get there starts with a strategic approach to managing your data assets that should be based on the next foundation.:

  • Definition of specific objectives, What decreased turnover.
  • Prioritizing Master Data Management and Quality Problem Solving.
  • Systems Architecture Audit, in order to optimize it.

Data is the core of an IT architecture and the core of business value. But, so they can extract the knowledge that meets the customer's needs, it is necessary to manage all data in a centralized and scalable way. this means that the focus should be on metadata management, Or what is the same, in the information that describes the data, offering visibility into your lineage.

When the goal is customer retention, the backup of intelligent data is necessary and that means ensuring the consistency of the information., something that can only be achieved through metadata management, the creation of a business glossary, proper data governance and MDM prioritization.

You should not start by putting the customer at the center, but you have to be clear that, to take that necessary step, you must first put the data at the center. Because without the right data at the right time, in the correct format, the customer cannot select the best option. But nevertheless, When data is well managed, complete and integrated, the customer is in control, a fundamental aspect of customer retention..

The keys to success in terms of customer retention

Even though no two initiatives are identical, one thing is clear: By taking a strategic approach to intelligent customer data management, you're giving everyone in your business the knowledge, the tools and data they need to redefine the customer experience.

A) Yes, the organization ensures three fundamental issues:

  • Talent focused on clients, instead of getting lost in contracts, addresses, products or channels or silos of business units.
  • Channel integration, platforms and equipment around a clean version, coherent and connected truth.
  • Technology availability, relationships and processes that evolve as the business's understanding of the customer does.

Customer retention initiatives require a well-established strategy, cross-functional collaboration and strong leadership; a combination that works on transformation and promises sustainable and effective change.

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