A recent study by Accenture found:
- While 55% of businesses thought they were very good at understanding and segmenting their customers, but only 21% of those customers agreed.
- More companies chose “personal experience” over analytical data as very important in business decision making.
- When analyzing customers, companies focus on profit by customer and lifetime value the most and customer needs, behavior, and satisfaction.
In other words, not only do most organizations not know how to make their customers happier, they don’t even know where to look.
Here’s a hint: data.