Home > Ask the CRM Experts > Customer equity: Long-term and short-term Questions & Answers > Tracking consumer purchase behavior with third-party data
Ask The CRM Expert: Questions & Answers
EMAIL THIS

Tracking consumer purchase behavior with third-party data

Don Peppers and Martha Rogers EXPERT RESPONSE FROM: Don Peppers and Martha Rogers

Pose a Question
Other CRM Categories
Meet all CRM Experts
Become an Expert for this site


CRM and call center FAQs
Digg This!    StumbleUpon Toolbar StumbleUpon    Bookmark with Delicious Del.icio.us    Add to Google


>
QUESTION POSED ON: 28 April 2008
For new customers, is there any legitimate way to track their past consumer behavior, to get an idea of their growth potential?

>
EXPERT RESPONSE
This depends on the business you're in, but in some businesses simply asking the consumer might help you uncover their past behavior. When asking the consumer is not appropriate, or when the answer would be impractical to convey (as, for instance, grocery shopping behavior), it's possible to compare a consumer's profile with other, similar consumers using third-party data.

There's a saying in market research, that "birds of a feather flock together," which means that people who live in the same neighborhood, drive the same kinds of cars and have the same kinds of family types are similar enough to each other that you can project the purchase patterns of one onto the other. There are large syndicated research services based on surveys done of tens of thousands of customers annually that can be of great use here. Keep in mind that the data is not perfect, because the particular customer you are looking for is not on the research panel himself, but there are other customers who seem to be a lot like him who are.


Hear more in Creating Customer Value, a SearchCRM.com monthly podcast series with Peppers and Rogers.


Sound Off! -   Be the first to post a message to Sound Off!


Digg This!    StumbleUpon Toolbar StumbleUpon    Bookmark with Delicious Del.icio.us    Add to Google


RELATED CONTENT
Customer equity: Long-term and short-term
How do cross-selling and up-selling impact customer satisfaction?
Treating customers as individuals in the call center
Are one-to-one relationships between agents and customers a good idea?
Engaging effectively with customers on the phone
Customer complaints handling in the call center
Customer complaint handling and resolution policies
Identifying customer needs to create customer value
How do we recognize the value of customers with growth potential?
Strategies to increase customer value without sufficient customer data
Customer value and successful marketing: How are marketing trends changing?

RELATED RESOURCES
2020software.com, trial software downloads for accounting software, ERP software, CRM software and business software systems
Search Bitpipe.com for the latest white papers and business webcasts
Whatis.com, the online computer dictionary



Search and Browse the Expert Answer Center
Search and browse more than 25,000 question and answer pairs from more than 250 TechTarget industry experts.
Browse our Expert Advice

About Us  |  Contact Us  |  For Advertisers  |  For Business Partners  |  Site Index  |  RSS
SEARCH 
TechTarget provides enterprise IT professionals with the information they need to perform their jobs - from developing strategy, to making cost-effective IT purchase decisions and managing their organizations' IT projects - with its network of technology-specific Web sites, events and magazines.

TechTarget Corporate Web Site  |  Media Kits  |  Reprints  |  Site Map




All Rights Reserved, Copyright 2000 - 2008, TechTarget | Read our Privacy Policy
  TechTarget - The IT Media ROI Experts