Challenges Associated With Collecting Online Customer Intelligence

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The Challenges Associated with Collecting Online Customer Intelligence Customer intelligence is an essential element in the process of developing a successful marketing and branding strategy. Businesses are becoming increasingly aware of the importance of developing the capacity to collect data about their target audience that will allow them to effectively detect and project the movements and behavior of their customer base and market. This information is immensely powerful when it is accurate, well-organized and properly interpreted. Understanding the Dynamic of Customer Intelligence While most businesses understand the vital nature of customer intelligence, few have mastered to the complex enigma of actually collecting this data in an efficient and consistent manner. There are a number of challenges that contribute to this difficulty; however, before these challenges can be addressed, it is important to gain a lucid perspicacity of what constitutes customer intelligence. There is a wealth of information available on the behavior of specific groups and their shopping habits. The problem is that all of this data does not necessarily qualify as customer intelligence, and the sheer volume, alone, can be overwhelming and time consuming to work through and analyze. Customer intelligence is much more than the gathering of information on a specific group. Customer intelligence is the end result of gathering, processing and analyzing information regarding a specific audience or targeted group, focusing on their detailed spending habits, buying triggers, and a number of other online activities. The purpose of gathering this information is to create the capacity to develop a more effective and meaningful business to customer relationsh... ... middle of paper ... ...d secondly, the rapid evolution of markets makes the task of collecting this data time sensitive. A recent report by the CDI Institute reveals that many companies report that they simply do not have the stamina to effectively respond to the rapidly evolving market and customer requirements. The lack of quality customer intelligence exacerbates any existing challenges that businesses are engaging while attempting to remain competitive in a market that is constantly changing. The collective challenge that businesses face is developing the capacity to collect quality customer data in a timely manner, and then having the ability to organize and manage the data to create a lucid portrait of the market and their customer. When companies are able to do this, they will be able to better engage their customers to build relationships that lead to trust and customer loyalty.

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