Let's Discuss Customer Information and its Benefits
Information is a very important tool in a business organisation simply because Information is the key to making the right decision. Informations that are collected coherently without interruptions can be utilized in the saving of costs, thereby increasing profits. It can also be used to give a perfectly appropriate service to individual clients made to their specific requirement and to bring about an increase in sales.
Bookselling has been redefined by the American online retailer Amazon.com. The beliefs that constitute their mode of work operation view the potential of technology as a valuable entity. The company make use of information in four major ways, and I will be discussing them in the next paragraphs.
First of all, they engage in the analysis of information from millions of customers to have a prior knowledge of how and when those customers purchase in order to make the level of risk as small or as insignificant as possible. Secondly, Amazon.com make use of technology to exercise influence over the way it manages its suppliers and a detailed lists of all the items on hand. 3rdly, information was also used by them to provide help and give some degree of importance to customers by offering a second or subsequent reading of books and free informations capable of being downlaoded, as well as by treating its home page as an individual storefront for each of their customers. For instance, a list of suggested titles that the cutomer may found interesting can be properly prepared based on previous purchases that was made by other customers. And lastly, Amazon make use of information to bring about innovation. Amazon are of the belief that for them to be equal or to surpass their competitors, they need to implement an innovative approach towards improving the value and service they provide to their customers.
What we are really concerned about here is how a particular information can be used to gain competitive advantage and not about the kind of information that is in existence. The most interesting thing about this is that quite a good number of other retailing companies are now following the footstep of Amazon. For instance, the iStore and iTunes of Apple have done the same thing Amazon did with bookselling for music, making use of the similar principles with that of Amazon.com. There are some point you need to take note of in order to make use of customer information in practice.
- Make sure each customer is treated as an individual. For instance, iTunes, which sells music, tracks individual purchases and offers personalized websites that give customers new shopping opportunities that looks attractive to their personal interest.
Information should be provided for the individual by making use of the internet independent of whether your does not perform its online operations. Valuable and intimate strategies of marketing can be developed by companies or organizations via the collection of the email addresses of customers.
More informations about individual customers can be gotten through research carried out by freelance workers and small businesses. This information can then be made into a database capable of being accessed with indication for each clients.
If there is interruption while your organization is tracking the trends of customers, incentives such as free products should be used for clients who voluntarily give out information. Rewards should also be given to customers who are in for the collection of information on your organisation.
You can as well drop your view about this in the comment box below. Thanks for reading.
REFERENCE
- Great business ideas from leading companies around the world by Jeremi Kourdi.
Also published on my whaleshares blog