A customer 360 platform is a set of tools integrated together to deliver a holistic approach towards customers of an organization. The agenda is to build relationships through experiences and not only focused on transactions. Also, businesses across the world believe this to be a key to the long-standing customer relationsips.
What does a 360-degree view show?
Your customers’ interaction history with your brand and/or products or services. With the customer 360 platform, you can get meaningful insights through their history of engagement and facts about the customer.
- Product/service activity
- Interaction history across all channels
- Recent product views
- Campaign activity
- Process history
No matter on which channel does the customer approach, as a business, it is important for you to understand what the customer is going through in their account and in their buying journey.
- Who are they?
- How do they relate to the organization?
- What is the context of the interaction?
- Is there a recent order or current issue recorded that a customer service agent should be aware of?
With a clear picture of customers’ past and present interactions with the brand, it becomes easy for brands to plan further interactions and relationships with customers. As a result, brands can also understand the scope of cross selling and up selling of the products or services.
When you know what your customers are looking for in your website, you can predict the future buying behaviors and strategize campaigns that addresses their queries and pain points.
Benefits of a 360-degree view
With the help of these data and insights, you can provide a more customized experience to your users.
In today’s world, businesses are desparate to buil lasting relationships with clients. With an intelligent CRM system, different departments can record and share accurate data and information about a customer irrespective of the medium used.
As a result, it helps in delivering a professional experience to customers across departments and near-zero error is expected. Also, it ensures each department is aligned with internal and external goals.
Enables predictive analysis
Once you collect various pieces of customer journey, you can figure our a clear picture of how customers will behave. So, here are some questions to which you may find answers:
What do the patterns about your customers tell you about their likelihood to purchase something?
Do they demonstrate increased dissatisfaction at any point in the buying journey that may cause them to churn?
What are the reasons for cart abandonment?
A 360-view captures each customer’s interaction history and maps out an outcome for each event.
Drives customer intelligence
The more comprehensive a data collection process is the more fine-tuned persona planning will be. Behavioral information, in addition to demographic knowledge, is vital for discovering broad trends and user response.
So think about what data should be used to provide insights into customers. Look beyond analytics to include anecdotal data or feedback from customer service representatives with continuous contact with customers.
Drives customer loyalty
Improving a customer’s lifetime value boils down to a strong customer experience. In fact, customer experience is expected to overtake price and product as the key brand differentiator by 2020
Additionally, a customer is 4 times more likely to buy from a competitor if the problem is service-related, versus price or product-related.
Marketing campaigns that fall flat are expensive. The more intelligent and data-driven campaigns are, the more successful they will be. Develop your organization’s customer outreach and upsell opportunities that are targeted to avoid spending money on a campaign that doesn’t perform.
Additionally, with improved visibility into your customers, you can begin to segment them. After all, it doesn’t make sense to invest the same amount of money in customers that make return purchases versus those who have never made one.
A 360-degree view of your customers gives you the opportunity to deal with low-value customers differently.
How can you Achieve a 360-degree view?
Today, having a great product isn’t enough. You need great customer service to match. That’s why being able to access all the customer service-related interactions, such as requests, complaints, enquiries, etc. is paramount in getting a fully comprehensive view of a customer.
Your customers’ behavior on social media is an indicator of their day-to-day interactions with and reactions to your brand. Pay attention to social media channels to find out whether your customers talk about you online. Do they follow your branded profiles? Are they actively engaging with your posts? Do they leave comments or ask questions?
Social listening tools
One of the best way to examine customer behavior is through social media. Social data is unfiltered and gives a glimpse into sociological attributes for your customers. It means your company can understand customer’s sentiments and how they change with the shifting trends of the world.
Every customer interaction should be tied to a business goal regardless of the outcome of the event. For instance, if a customer interacts with a call center and is dissatisfied, there is data to be collected for customer retention.
Without high-quality data, insights will be neither accurate or relevant. Keeping data organized and clean is the first step to being able to deliver on it.
To achieve this, implement a process that encourages all departments to enter data into a consistent format. While time-consuming, it’s crucial to go back to the originating systems and organize historic data when possible. By creating consistency around how data is entered and managed, it will be easier to communicate cross-departmentally.
Customer 360 is a collection of multiple platforms such as CRM, ERP, Social Listening Tools, and more to map an ideal customer persona. Using which you can create more meaningful experiences to your customers and deliver personalized services.
Agilisium is a data analytics firm and has a team of adept data engineers, data scientists, and data architects who have hands-on experience in catering to businesses of different verticals. Feel free to get in touch with us or write to us at [email protected]
The lack of a single source of truth, quality data and ad hoc manual reporting processes undermined top management’s visibility of integrated insights on sales, sales rep interactions, marketing reach, brand performance, market share, and territory management. Understandably, the client wanted to align information that has hitherto been in silos, to gain a 360-degree product movement view, to optimize sales planning and gain competitive edge.