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The One Business Basic that Companies are Basing Business On

Business Basic
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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