Fostering close relationships and experience that lead to customer loyalty isnít just good for a brandís reputation; itís good for its bottom line. However, organizations are slow to wake up to the bottom-line benefits of attracting customers for life.
To shed light on this issue, Forbes Insights, in association with Sitecore, conducted a survey.
Key findings include:
Customer Lifetime Value metrics are recognized for their value in strategic planning for acquisition, retention, and revenue - but slow on the uptake
Organizations may recognize the importance of a strategic approach to keeping customers for life - but marketing and technology executives are often left out of the process
Developing a single customer view is a top organizational priority - technical challenges including a multiplicity of systems, fragmentation of data, and the resulting silos slow progress
Silos and a lack of integration among teams also pose challenges - hindering the delivery of personalized customer interactions