Rynne Spin

Posts Tagged ‘technology’

It’s easy to feel lost in the crowd.

Having recently filled out the U.S. Census form, I cannot help but be reminded that I am just another number to the government. I was also fortunate enough to be attending Duke University during the men’s basketball national championship run earlier this month. However, it became clear that I am merely one sports fan among tens of thousands cheering for Duke.

Looking at it from another perspective, businesses tend to forget that their customers are individuals, too.  Customers don’t think of themselves part of a “segment.”  They don’t categorize themselves into a demographic bucket.  They are each unique, and it would benefit companies to remember this.

The other day I had a small, but remarkable, experience at my local Wachovia branch.  I went to the ATM to deposit a couple checks.  I was spacing out as the machine processed my deposit, when I noticed a “Happy Birthday” graphic appear on the screen, complete with a cake, candles, and balloons.  My birthday was in a few days, and I’ll admit, that kind of made my day!

Even though it was a simple customization using the birthdate I provided when I opened my account, it still felt special – as if Wachovia knew me as a person, not just an account number.  As a technology enthusiast, I really appreciated the use of readily-available information to create a unique experience for a customer.

According to research by IBM, nearly 15 petabytes of data are created everyday.  That’s a lot of information! What opportunities are businesses missing by not effectively understanding and utilizing their customer data?  How easy would it be for a clothing retailer to selectively target promotions to customers based on their purchase behavior?  What if, during your next visit to the dentist, they wished you a happy birthday or a happy anniversary?

The information is there.  We just have to learn how to more effectively use it!  Technology, whether it’s a simple CRM system or a complex data mining application, can unleash some real competitive advantages for firms.

How will your business more effectively use its information?  Do you know which of your customers are celebrating a birthday today?