Today, the top priority of businesses is expanding the customer base. This focus was found in an August 2015 survey by Forbes Insights and ServiceSource of more than 300 global C-level executives and senior executives in a variety of industries. The results revealed that growing the customer base was the leading priority of 42% of respondents. To discover which other business objectives mattered most to executives, eMarketer.com shared their top business priorities.
The customer connection was a common theme throughout most of the survey results. According to the survey, respondents named the following as their top business priorities:
- 42% said expanding their customer base.
- 31% named retaining their current customer base.
- 30% were focused on improving customer engagement.
- 29% said maximizing the customer’s lifetime value.
- Only 22% were concentrating on keeping costs contained.
Around the same time and the same theme, a different research study, from the CMO Council, was conducted on the ways that North American executives were measuring the customer engagement success of their consumer-centric efforts. The research revealed that the following were their primary means of metrics:
- 38% named revenue metrics, such as customer lifetime value, individual revenues per customer, and overall revenue increases.
- 30% said campaign metrics, including clicks, conversions, online traffic, and web analytics.
- Only 12% were focused on sales-enabling metrics like lead flow, lead scoring, and content downloads.
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