Customer metrics of the future will be highly customized and targeted. In an effort to create a holistic view of the customer, organizations should consider four factors:
- Product Usage – companies will want to explore how customers use their products and services. Inputs such as product penetration, product depth, product breadth, product frequency, and purchase patterns will be important components.
- Sentiment – companies must understand how customer feel about their experiences with the people, products, services, and processes.
- Involvement – this includes the ways in which customers participate in the firm’s business and includes activities such as: attendance at company-sponsored events, willingness to serve as a referral, participation in a case study, social media activity, and their willingness to collaborate with you to co-create solutions.
- Competitive status – it is important to know how engaged your customers are with your competitors. What is their share of wallet, who is the customer purchasing from, and who is their primary supplier?