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10 Nov, 2015

More Data Doesn’t Always Mean Better Insights – Gallup

by Ilana Ron Levey and John Timmerman

As technology advances, it’s tempting for companies to believe that gathering more data and crunching more numbers will consistently lead to better customer insights. But Gallup finds that’s not always the case, particularly in the business-to-business (B2B) arena.

Here’s why: For B2B companies, success hinges narrowly on the quality of client relationships. Gallup finds that the typical B2B organization has an optimal relationship with fewer than one in seven of its customers. Companies can’t build lasting partnerships based on products, process or price alone. That leaves the relationship vulnerable to competitors with similar offerings and lower prices.

The trick is to become irreplaceable to clients by helping them solve their biggest challenges and finding ways to succeed together. How to do this varies widely from client to client. But the answers usually aren’t evident from a spreadsheet or a customer experience management system alone.

Read the rest: http://www.gallup.com/businessjournal/186455/data-doesn-always-mean-better-insights.aspx?utm_source=tagrss&utm_medium=rss&utm_campaign=syndication