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  • Data Utilization
  • Customer Management and Analysis

What Is Customer Analysis? Explaining Concrete Methods for Data Utilization!

Last Updated: March 15, 2024

Science of Sales
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In recent years, the trend of data utilization in enterprises has been evolving rapidly. To respond more quickly to customer needs and demands, companies are leveraging data to understand customer preferences and requirements, using these insights to deliver products and services. Furthermore, the adoption of AI and machine learning technologies is becoming essential for businesses, with data being utilized across various fields to enhance predictive capabilities for customer behavior, optimize marketing campaigns and sales activities, and improve products and services.

In this article, we will introduce the critical aspect of customer analysis in business operations, categorized into Corporate Data, Behavioral Data, and Product Data.

The Importance of Customer Analysis

Customer analysis is considered essential for understanding customer needs and behavioral patterns, but what specific benefits does it provide? Based on feedback from client companies of uSonar Co., Ltd., we introduce several advantages of conducting customer analysis below.

  • Establishing a Value Proposition
  • A value proposition is the unique value your company offers that meets high customer demand and cannot be provided by competitors. Analyzing customers and aggregating common requests is the first step toward clarifying your company's points of differentiation. Furthermore, uncovering latent customer demand leads to strengthening your company's unique identity.

  • Improving Decision-Making Processes Through Enhanced Customer-Centricity
  • By conducting analysis focused on customer information, companies can make faster decisions regarding customer engagement. By combining internal and external data and gaining insights into customer behavior through statistical processing, it is possible to strategically improve policies.

  • Creating Opportunities and Reducing Risks Through Faster On-Site Decision-Making
  • By monitoring trends and developments regarding customers, markets, and competitors, you can improve business processes and enhance operational efficiency. Visualizing common industry challenges allows for the formulation of versatile and effective action plans. Furthermore, it enables appropriate responses to customer churn risks.

    Analysis of Corporate Data

    Corporate data can be categorized into "information publicly disclosed by companies" and "segment information (attribute information) assigned based on public data."

    • Examples of information publicly disclosed by companies: Corporate registration records, official websites, securities reports, and IR information.
    • Examples of segment information: Having business locations nationwide, or strengthening investments in specific areas.
    • By utilizing information publicly disclosed by companies, you can narrow down your target market and potential customers based on criteria such as industry, annual revenue, and employee count.

      Furthermore, by integrating segment information, you can more clearly define your ideal customer profile—such as the specific departments or regions likely to adopt your products—and gain insights into the challenges those customers are facing.

      Analysis of Behavioral Data

      Behavioral data can be categorized into "trends and interests inferred from online behavioral history" and "offline information exchange."

      Online behavioral history can be divided into "actions within your own website" and "actions outside of your own website." By processing this data, it can be cross-referenced with corporate information.

      • Examples of on-site website behavior: New/existing status, visit frequency, genres of pages viewed, and inquiry details.
      • Examples of off-site website behavior: Information likely being searched for and level of interest (equivalent to browsing frequency).
      • Offline behavioral history includes business card exchange records, conversation history, and sales negotiation status, which are often stored in internal CRM or SFA systems. By integrating this with online behavioral data, you can visualize customer-specific interests and the depth of their connection with your company.

        Analysis of Product Data

        Product data can be categorized into information regarding your own products and information regarding competitors' products.

        • Examples of information regarding your own products: Features or services currently used by the customer, and individual customer LTV (Life Time Value) or NPS (Net Promoter Score).
        • Examples of information regarding competitors' products: Tools and technologies currently used by the customer, and products in which the customer has expressed interest.
        • By analyzing information regarding your own products, you can identify trends in features or services preferred by customers, as well as discover key selling points and use cases that provide a competitive advantage.

          By analyzing information regarding competitors' products, you can gain insights into the strategies customers use to implement tools and technologies, allowing you to refine your approach strategy based on inferred interactions with competitors.

          Integrating this information organically contributes to a more robust value proposition.

          Customer Analysis Use Cases

          Specific use cases for conducting analysis based on customer data include the following:

          • Gaining Market Insights
          • By utilizing corporate and product data for market research and competitive analysis, you can obtain information on trending products and services in the market. Furthermore, by understanding the approaches taken by competitors, you can evaluate your company's market positioning and develop appropriate strategies.

          • Customer Segmentation and Customization
          • By leveraging corporate and behavioral data to assign segments to customers and cross-referencing these segments, you can narrow down your target audience and provide marketing messages and services tailored to each specific group.

          • Lead Scoring and Sales Forecasting
          • You can analyze customer behavioral data to evaluate lead quality and prioritize follow-up actions. Additionally, it is possible to assign sales representatives based on customer behavioral characteristics and their stage in the decision-making process. This enables sales teams to approach acquired leads with the most appropriate representative and develop customized account plans for each prospective customer.

            While the above examples relate to marketing and sales, there are numerous other cases where customer analysis is utilized in customer success and consulting as well.

            Conclusion

            Through customer analysis, such as customer segmentation and customer lifecycle analysis, companies can provide more suitable services and products to their customers. Furthermore, the results of customer analysis play a crucial role in optimizing the cycle and direction of product development, production, and functional enhancements.

            In the future B2B market, further integration and utilization of data are expected, along with the introduction of more sophisticated analytical technologies. Data-driven, rapid decision-making and action will become a Key Success Factor (KSF). By recognizing the importance of customer-related data and grasping customer behavior and market trends in real time, companies can enable rapid decision-making and customer responsiveness.

            The customer data integration solution we provide, uSonar, incorporates a vast corporate information database that allows for the visualization of all corporate, behavioral, and product data.
            Many of our clients use uSonar to build the environment necessary for customer analysis by integrating it with their CRM and SFA tools.
            Additionally, uSonar provides various visualization functions to efficiently grasp rising market needs and the approach status of competitors.

            It is possible to realize the construction of a customer-centric analysis environment and the streamlining of sales and marketing strategy planning based on a single integrated database.

            For more details, please feel free to contact us via this page.

Author

uSonar

uSonar Editorial Department

MX Group Editor-in-Chief

This is the uSonar Editorial Department.
We provide information on data utilization and digital technologies useful for B2B companies to rethink their future business operations.

uSonar is utilized by various companies
across all industries and sectors.

  • Ministry of Economy, Trade and Industry.
  • Asahi
  • BIZ REACH
  • NITORI BUSINESS
  • FUSO
  • MIZUHO
  • PayPay
  • Ministry of Economy, Trade and Industry.
  • Asahi
  • BIZ REACH
  • NITORI BUSINESS
  • FUSO
  • MIZUHO
  • PayPay
  • Ministry of Economy, Trade and Industry.
  • Asahi
  • BIZ REACH
  • NITORI BUSINESS
  • FUSO
  • MIZUHO
  • PayPay
  • Ministry of Economy, Trade and Industry.
  • Asahi
  • BIZ REACH
  • NITORI BUSINESS
  • FUSO
  • MIZUHO
  • PayPay
  • RICOH
  • Bengo4.com, Inc.
  • Resona Bank
  • SAKURA internet
  • SATO
  • Sozon Information Systems Co., Ltd.
  • Suzuyo
  • RICOH
  • Bengo4.com, Inc.
  • Resona Bank
  • SAKURA internet
  • SATO
  • Sozon Information Systems Co., Ltd.
  • Suzuyo
  • RICOH
  • Bengo4.com, Inc.
  • Resona Bank
  • SAKURA internet
  • SATO
  • Sozon Information Systems Co., Ltd.
  • Suzuyo
  • RICOH
  • Bengo4.com, Inc.
  • Resona Bank, Limited
  • SAKURA internet
  • SATO
  • Sozon Information Systems Co., Ltd.
  • Suzuyo

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