Balanced Scorecard and KPIs for Customer Profiling
Customer Profiling revolves around understanding the reasons that underlie 'formation', 'expansion' and 'dilution' of customer base of the company. Stepping into these details will offer answers to the much troubling questions organizations have to deal with, such as 'why do we have a low customer retention ratio?', 'what should we offer to customers to make them recommend our product to their relatives?' etc.
One can obtain solutions to these by employing a 'tracking tool' like BSC (Balanced Scorecard). The perspectives that can be of help are- 'Benefits and Performance Perspective', 'Process Perspective', 'Buying Behavior Perspective' and 'Integration and Best Practices Perspective'.
The indicators for Performance and benefits and Perspective can be 'customer retention ratio', 'issues addressing index', 'customer base expansion' and 'cost: revenue ratio'.
The next area is process perspective. The parameters can be- 'number of areas covered', 'number of techniques utilized', 'number of technological solutions used' and 'time taken to conduct the complete study'.
Integration and Best Practices perspective can be evaluated via the metrics like 'staff fraction', 'database alignment' and 'best practices abiding ratio'. Buying behavior perspective can be had with indicators like 'proportion of customer base which showed an increase in frequency of buying', 'customization climbing' and 'increase in sales per customer basis'.
Why do business professionals choose ready-to-use KPIs?
Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
- Can a business professional research KPIs on his own?
- How do I avoid typical problems with KPIs?
- Is ready-to-use KPI applicable in my niche?
- Is KPIs' price affordable?
- Can KPIs can be easily integrated in any business environment?
- How can KPIs make the difference to the business?
What are the benefits of Customer Profiling metric:
- Measuring customer profitability and knowing who your customers are is a must for any business. Customer profiling KPIs offer a unique opportunity of gathering and summarizing this info in one dashboard.
- It's possible to measure sales per customer or revenue per customer, thus, identify most profitable and loyal clients.
- Customer satisfaction index is a top priority in the customer profiling BSC.
Get these KPIs
More ideas on using Customer Profiling KPI
Seldom does a company produce such a product or provide such a service that works for 'everybody' on this planet. In other words, the offerings from organizations are prepared with a definite set of people in mind who will be using it. To carry out the job of segmentation effectively, one needs to make a clear 'profile' of the customer base that will be built.
An honest and useful shopper profile can be developed by using characteristics like demographic, geographic and psychographic.
For instance, to decide whether a particular magazine be used for advertising or not, the company can consult the magazine advertisers to know the age-group from which the readers of that magazine belong. In case the product is for readers falling into the age-group, one can go ahead with the decision. This is one of the ways one can get an idea about Customer profile analysis.
Working on customer description is one of the most important tasks of marketing people and has to be performed to create a useful prospect list.
By moving on the path of 'buyer profiling' with enough detailing, one can have the causes that make up for the 'construction', 'spreading' and 'degrading' of customer base. Further, indicators that mirror the changes in the area of customer mapping can be framed and followed to keep the organization on track.
More useful information for Phone Estimation
Customer Profiling Evaluation Balanced Scoreboard Screenshots
Metrics for Phone Estimation
This is the actual scorecard with Customer Profiling Dashboard and performance indicators.
The performance indicators include: buying behavior perspective, customer base which showed rise in buying frequency, increase in recency of purchase, level of customization climbing, increase in sales per customer basis, integration and best practices perspective, staff fraction, database alignment index, best practices abiding ratio, interdepartmental cohesion, process perspective, number of areas covered, number of methods utilized, number of technologies utilized, time taken in the process, benefits and performance perspective, customer retention ratio, issues addressing index, customer base expansion, cost: revenue ratio.
Download or purchase Customer Profiling Evaluation Balanced Scoreboard
Download a trial version of Customer Profiling Evaluation Balanced Scoreboard or purchase a full version online.