Go BackMulti-channel customers are more profitable
Research published by BT has highlighted the importance of positive investment in a multichannel approach; a channel hopping customer tends to be more profitable as they are more likely to engage in cross-selling and up-selling.
According to other research, customers using two communication channels spend 114% more than single channel shoppers. Consumers using three channels are a further 48% more profitable than those using just two. In-depth interviews and focus groups have found customers prefer to interact with stores across several different media.
According to BT's report, companies are driving many customers away due to a short-sighted approach to their multichannel strategy. 97% of customers expect their interactions with companies to be consistent and seamless, yet customers are left frustrated when they're told by a call centre they can't email you nor can they access your internet records. A perceived lack of internal communication and consistency between the various channels used by a company has left customers increasingly annoyed.
One of the key elements needed for consistent and seamless customer interaction is an integrated, multi-channel database. Too many companies hold vital customer information in channel-specific "silos". For this reason MIG have developed their Data Innovator and Data Interrogator solutions.
Date - 20/02/2008
