understand your customers better than your competitors Jeff Bezos, founder of Amazon (the world’s largest retailer) and the 5th richest man on the planet, talks a great deal about the importance of ‘customer obsession’. He identifies this as one of the reasons for the success of his business. Bezos notes that the critical issue for […]

understand your customers better than your competitors Jeff Bezos, founder of Amazon (the world’s largest retailer) and the 5th richest man on the planet, talks a great deal about the importance of ‘customer obsession’. He identifies this as one of the reasons for the success of his business. Bezos notes that the critical issue for every business should be the customer and not the competitor, pointing to the obsession many businesses have with their competition. Like Bezos, I would argue that the one thing all businesses need to do is understand and respond to their customers better than their competition. It seems that CMOs in the United States agree. Some 80% of those surveyed by ‘Marketing Professionals’ said that ‘first party data is strategically important and plan to increase its use’. First party data includes – website usage, campaign responses, and purchase history. In that same survey, some 60% of…