“It’s said that all new ideas are dumb until they are obvious, this one is becoming obvious. Religence is at the forefront of quantifying customer relationship value for B2B enterprises with big data. It’s curious that companies spend billions of dollars today on technology solutions to win new customers but very little to quantify customer relationship value, which is the key to retention and up-sell.
“In most large B2B enterprises existing customers make up the lion’s share of revenue but the investment to analyze data beyond simple annual CSAT surveys is trivial. The data and analytical skills exist but the foresight in the executive ranks is yet to emerge.” — Jim Donovan, CMO of Panasas and previously SVP of Global Marketing at Teradata, where the company grew from $200M to $2.7B during his tenure.
We agree that the data and analytical skills exist, but more than foresight is needed in executive ranks to quantify customer relationship value, to know if critical relationships are getting stronger or weaker.
Actionable, real-time operational intelligence, based on what people DO, is needed and is lacking. Our new Customer Relationship Value (CRV) KPI, with its operational CRV Score, is needed. The CRV Score measures the development of relationships throughout the customer lifecycle—acquisition through retention. It is based on our patented Relationship Age process and analytics.
Many VoC companies are trying to get a handle on operational or organizational data, which is a good thing, but quite often they are pairing this data with same old, tired metrics like NPS, CSAT, and CES. These lagging indicators, based on what people SAY, are not good enough for today’s real-time needs.
It’s obvious! You need to know if your relationships are getting stronger or weaker, right now. With our CRV Score approach, you’ll know!
Customer Experience Wisdom: Relationships get stronger or weaker with every interaction you have with your prospects and your customers.
Questions: What do you know about your relationships? Can you act on what you know? Right now? Are you a visionary leader, an early adopter, who wants to know the score that matters for competitive advantage? Then,
Be In Touch.