Better Products and Happier Users through Customer Data

by HBR Blog Network

customer dataRead how one software company is collecting troves of customer data to develop better products, fine-tune current services, and keep their users happier.

David K. Williams and Mary Michelle Scott, CEO and President, respectively, of inventory software company Fishbowl, writes about their company’s use of customer data in the Harvard Business Review Blog Network. “We collect as much business-specific information about every customer as we possibly can,” the two write, and “the results range from a few dozen pages gathered to see if our product was the right fit” to “dozens of pages of highly-detailed and even personal information.” The customer data goes into a “master customer relationship management,” where it’s in “active and regular use.”

Williams and Scott claim that, “The secret to our success is that we use the information we gather in a very high-touch and very personal way.” Their account leads call every client every quarter for feedback on “the software, the services, and processes,” as well as “what to downgrade to conserve cost” and “to direct our product development priorities.” Williams and Scott estimate that “10-15% of our revenues are won (or retained) as the direct result of our use of this specific customer information,” and that’s a statistic that every company can appreciate.