As few as 13 per cent of UK companies can claim to be leaders in their collation or exploitation of customer data, according to new research for consultancy Detica.
Almost 40 per cent of respondents in a study carried out in April were found to have little good data and limited ability to exploit it effectively. A further 15 per cent can claim to have better data, but still make little use of it to further their business objective.
Detica categorises companies into different labels according to their ability to use their own customer data. Only 13 per cent can claim to be leaders, 40 per cent are strugglers, around 33 per cent are followers and a 15 per cent are under achievers.
Few companies are making any use of the information they gather as part of their CRM activities to improve the customer’s actual experience of doing business with them. Nor are firms able to use the information for cross selling, retention or win-back campaigns.
Equally illusive is the often cited goal of ensuring a single view of the customer, measuring the achievement of customer objetives and communicating customer measures across the entire business.
Only when it comes to capturing basic contact and billing information do UK companies show any real aptitude, but even here few use any form of additional descriptive information such as demographic detail or lifestyle data.
The study was conducted across multiple industry sectors, with telecommunications emerging as the least efficient, reflecting their origins as engineering organisations rather than customer facing companies.
The full report – Converting Customer Data Into Effective Customer Decisions – can be obtained from Detica at www.detica.com.