Start A Customer Intelligence Analytics Business - Business Ideas

Updated: September 15th, 2022
Start A Customer Intelligence Analytics Business

Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.

Customer intelligence analytics is all about understanding your customers and using that data to improve your business. It is a process of analyzing customer data to generate insights that can be used to improve business decisions.

Starting Customer intelligence analytics is a great business idea for those who are good at analyzing data and have strong communication skills. If you can help businesses to understand their customers better, then you will be in high demand!

VERINT is a global leader in Actionable Intelligence solutions. Verint's customer intelligence analytics platform helps organizations make sense of customer interactions and turn them into valuable insights. In 2022, Verint Systems Inc generates $1.3B in revenue.

This business idea is growing in popularity because it's a process that can be used by all businesses. Small businesses can use it to make better decisions about their marketing and sales strategies, while larger businesses can use it to improve their customer retention rates.

Starting a customer intelligence analytics business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell customer intelligence analytics service , or selling customer intelligence analytics service online, you can use this page as a guide for everything you'll need to know.

Key Stats

market size
$66.4B
revenue (monthly)
$840K
starting costs
$16.8K
gross margin
89%
avg product price
$275
time to build
360 days
growth
Pay Per Click Advertising
business model
E-Commerce
time investment
Full time

Startup Costs

Min Startup Costs Max Startup Costs

Office Space Expenses

$0

$7,000

App Creation Costs

$1,099

$20,099

Software Expenses

$162

$2,894

Advertising & Marketing Costs

$0

$2,500

Website Costs

$13

$215

Training & Education Expenses

$0

$850

Total Startup Costs

$1,274

$33,558

Successful Businesses

Business URL Rank

SAS

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7,459

Bold BI

boldbi.com

89,250

Altair

altair.com

94,612

EverString

everstring.com

97,689

Cloud Security Alliance

cloudsecurityalliance.org

136,723

United World Telecom dba Global Call Forwarding

globalcallforwarding.com

166,300

Pointillist

pointillist.com

218,644

eVestment

evestment.com

348,536

Gravy Analytics

gravyanalytics.com

395,641

84.51°

www.8451.com

572,872

VIRTU Financial Inc.

virtu.com

572,881

Pros & Cons

Pros Description

Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

Ability to start your business from home

It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!

Rewarding work

Starting a customer intelligence analytics business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

Scalable

With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.

Traffic to your website

A customer intelligence analytics business gives people a reason to visit your website and to keep coming back to you!

No overhead costs

To get your customer intelligence analytics business started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!

Cons Description

Crowded Space

Competition is high when it comes to your customer intelligence analytics business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.

Motivation of employees

If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.

Longer Sales Process

A customer intelligence analytics business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.

Security Issues

With any Saas business, data loss and security issues may arise throughout your process of building your product. It's critical that you understand exactly what you're responsible for and how to avoid potential issues down the road.

Isolation

Often times, as a customer intelligence analytics business, you typically work alone and do not have much face-to-face interaction with other team members.

Taxes

As a customer intelligence analytics business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

Marketing Ideas

  • 1

    Social Media Advertising

    Social media advertising is the use of social media platforms to connect with your audience with the objective to build your brand, increase sales, and drive website traffic.

    According to Oberlo, approximately 48% of the global population use social media, and the number is ever-growing.

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    Learn more about social media advertising ➜

  • 2

    Email marketing

    Email marketing is the act of sending a commercial message to a group of people using email.

    Marketing via email is a highly effective strategy used by entrepreneurs to advertise, request business, or to build brand awareness.

    According to Backlinko, shoppers spend more when marketed to through email, compared to those who do not receive email offers.

    Therefore, email marketing is an essential tool that helps entrepreneurs to reach target audience.

    Learn more about email marketing ➜

  • 3

    Brand Authenticity

    Brand authenticity refers to the extent to which customers perceive a brand to be faithful toward itself and its consumers.

    According to Social Media Today, 86% of consumers say authenticity is important when deciding the brands they like and support.

    Thus, brand authenticity makes stronger connections as genuine messages and ideas resonate more powerfully with people.

    Learn more about brand authenticity ➜