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BI Seen As Vital to Boosting Revenues From Existing Customers Newton, MA, February 2005 — Increase sales to existing customers is the mantra and mandate for 2005, according to a new survey of C-level executives. As companies turn their focus on increasing revenue rather than reducing costs in a post-recession environment, the poll data indicate that their interest in boosting revenues makes tools and services that enhance customer service a sure bet. In January BusinessWeek polled 350 CEOs, CFOs, COOs, presidents and other senior executives about a variety of business and technology topics. While managing budgets was the number one business goal of the C-team since 2001, now it is taking a back seat to improving customer service and selling more to existing customers.
On a scale of one to 10, with 10 signifying extreme importance, improving customer service received, on average, a 8.73 rating. Meanwhile, reaching new customers only had a 7.87 rating. Notice that managing budgets dropped to 8.63. Clearly the importance of improving customer service and retention cannot be denied. As for selling more to existing customers, we added that goal to the survey this year, and it took the #2 spot among important business goals. HereÕs the list of the top five for 2005:
What You Should Do Business intelligence vendors should focus their marketing efforts on explaining to C-level executives how business intelligence tools and services can increase revenues by improving customer service and further penetrating existing customer accounts. And how to promote the fact that business intelligence tools can boost revenues? Glad you asked. You should promote embedded business intelligence functionality into customer-facing business processes. That means increasing the smarts of systems and individuals involved in marketing, order processing, production, logistics and post sale service and support. And how to do that? Here's The Pitch... We're working on a special advertising section for the May 23 issue of BusinessWeek that is precisely about embedding Business Intelligence into operations. By participating in this section, you will have the opportunity to explain to the 4.7 million readers of BusinessWeek how your business intelligence tools and services can increase their top line. Furthermore, later this year we're doing a special ad section on improving customer service, so you'll have two opportunities to deliver your message to the C-level and line-of-business decision makers, along with roughly 2 million readers in North America with IT-related job functions. Contact me via telephone at 617-244-0698 or via e-mail. I can send you a one-page brochure about the sections to give you a more detailed idea of our focus and approach. The brochures also have information about our new case study program for our special ad sections in BusinessWeek. Alternatively, if you're interested in how our research on this topic can be converted into a white paper or series of case studies to present the embedded BI story, we can help you cost-effectively improve your lead generation efforts, donÕt hesitate to give me a call. Legal Stuff The data and charts are Copyright 2005, The McGraw Hill Companies. All rights reserved. This e-mail newsletter is Copyright 2005, Triangle Publishing Services Co. Inc. All Rights Reserved. Thanks again for your interest and support.
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