The only real metric of business is the net profits—period. Net profits are maximized by cost-effective, customer intelligence provided by data-driven marketing.
The top 5 customer insights (dashboards) you need are:
1. Segmentation lets you know how many customer attribute segments exist in the customer database and those attributes by segment can help shape your marketing messages.
2. RFM (recency, frequency, and monetary value) tells you which customers to call first by identifying which customers bought most recently, frequently & spend the most per purchase. This analysis will then allow you to profile your best customers.
3. Cross-Sell tells you which customer to sell which product/offer based on segmentation, RFM value, and Campaign responses.
4. The propensity to purchase is a set of statistical techniques used to score new prospects in terms of their likelihood to purchase. Propensity scoring is crucial; the analysis identifies which prospects are most likely to purchase.
5. Customer retention tells you which customers are likely to churn—this gives you the opportunity to develop an appropriate message and strategy to retain them.