LEADERSHIP
G A P A N A LY S I S
analysed to provide insights, to see how
This same methodology can be applied
many new customers fall away or become
to established accounts too. Analysing which
established with the effort and cost needed
businesses have not spent in the current
to acquire a new customer, this is important
period can be informative; showing which
to ensure that investment isn’t wasted.
accounts are active as a percentage by rep
“Classifying new customers’ spending
can also highlight which are best at customer
patterns into gaps is the perfect way to
retention. “Gaps are everywhere in your
focus precious resources into keeping new
data. Further opportunities lie in gaps in
business active,” says Terry.
profit targets, gaps in reactivated accounts...
This means that new customers that go dormant can be identified, and resources
The real benefits are achieved by the disciplined use of the business intelligence
the list goes on,” says Terry. “Of course, identifying the gaps is only
targeted to re-engage them. “You have
part of the task. Largely, the real benefits
than pays off when the gaps highlighted are
already done most of the hard work opening
are achieved by the disciplined use of the
proactively and creatively addressed.
the account; keeping it spending is hopefully
business intelligence being presented.”
This approach can genuinely help to
the easy part. Again, benchmarking which
Indeed, it is how the data is used that is
boost profits and enhance customer service
reps are best at holding onto new business
important, and time needs to be invested in
– precious things in these tough economic
can bring significant changes in behaviour.”
the analysis. Time spent in this work more
times that will be welcomed by all.
[20] SUMMER 2022
www.dealersupport.co.uk
