Data is critical for targeting new customers and better serving current ones. However, it costs five times more to attract a new customer than to retain one you already have, and there is only a 5-20% probability of making a sale to a new customer whereas that probability is 60-70% for a current customer. Despite this reality, companies overwhelmingly focus a disproportionate amount of their energy and resources on acquiring new customers rather than catering to the ones they already have.
CloudOptik is here to help you leverage your current customer data and improve your strategy for increasing sales with this group. After recognizing that service providers needed a better tool to help them identify the features and services that their customers use and need, CloudOptik developed SmartProfile. Filling a crucial gap in the sector, SmartProfile allows you to evaluate, refine, and enhance your customers’ experience with your company by leveraging features you’ve already sold to them. Rather than spending your time chasing after new customers with limited results, CloudOptik helps you increase sales using your current customer base.
What SmartProfile does
Targeted at service providers using BroadSoft software, SmartProfile analyzes customer data so you don’t have to. As the name suggests, SmartProfile conducts an audit of existing customer data to identify gaps in customer needs. The tool uses advanced software to determine which products and features sold to a customer are actually turned on and being used.
Why it’s important
CloudOptik’s SmartProfile tool provides you with insight into your existing customers so you can reinvent the customer experience. The data gathered from SmartProfile allows you to more strategically target the customers you already have, thereby increasing sales from within your current customer base. With SmartProfile data, you will be able to
- Train customers on the usability and capabilities of features you’ve already sold them
- Upsell current customers and activate additional services for them
- Personalize your sales pitch and marketing messages to current customers
- Increase ARPU.
Most importantly, SmartProfile provides you with the data you need to enhance the customer experience so that customers stick with your company rather than switching to a competitor.
Using the data
Collecting data is only helpful if you actually use it. As we’ve noted in previous posts, simply collecting data isn’t enough: You must be proactive with how you use this data. CloudOptik’s SmartProfile lays the groundwork for your strategy development process and provides focus for you to more strategically respond to customer needs. We’re able to tell you where your current gaps are in meeting customers’ needs and what you should be thinking about in order to fill these gaps. With this knowledge, you and your team will be able to use your energy and resources more efficiently so that your efforts are more likely to result in increased sales and customer loyalty. Through SmartProfile, CloudOptik provides you with the data you need to develop a customer roadmap and uncover lost revenue.