See More with a Single Customer View
Are you familiar with the concept of a single customer view? If not, let us explain exactly what they are and why they’re so valuable.
Over time, a customer’s relationship or journey with an organisation is guaranteed to generate a significant amount of data. When utilised correctly, this data is an invaluable asset in understanding customer behaviour, maintaining customer relationships and can even be used as a tool to unlock additional revenue.
However, as companies grow and harness new technologies to enhance customer experience, there’s a risk that customer data can become siloed. This is because each data source holds a copy of your customer’s information, which by itself forms only a partial picture of your customer.
Therefore, it’s vital to unite all sources of data into a single customer view to implement customer-focused strategies, such as highly targeted and personalised marketing, and efficient and well-informed customer service. In fact, employing a comprehensive SCV is a key element of successful Master Data Management. But what specific benefits does a single customer view actually unlock?
6 Ways A Single Customer View Can Benefit Your Business
1. Cleaner Data:
An immediate benefit of adopting a single customer view is the removal of duplicate data present across multiple silos. This helps marketers make better decisions around who to target and how, as data within an SCV is contextualised – showing the ‘bigger picture’, rather than a fragmented view of the customer that could (traditionally) force marketers to make assumptions about their customers.
2. Improved Segmentation:
Once you’ve eliminated data distrust and inspired confidence that your data is clean and free from duplication or other quality issues, it’s time to improve segmentation. A single customer view enables the accurate segmentation of customers, as it provides the full story, rather than a fragmented part of your customer’s attributes and behaviours. A single customer view also enables more complex levels of segmentation, as teams across the organisation can create segmentation against the SCV in areas that are relevant to them, e.g. selections teams could create transactional segmentations for outbound campaigns.
3. Better Personalisation:
Another benefit of an SCV is that it enables better personalisation. This because, by learning from a customer’s experience with your company and preferences, you can place the right product in front of the customer (based on past behaviour), speak them using the most relevant channels (according to their preferences), and even use relevant content based on their personas, such as money-saving offers.
4: Cross-Channel Marketing
When it comes to your engagement with customers, a Single Customer View allows for the seamless execution of cross channel marketing, as regardless of the channel a customer chooses to engage with, their experience with your messaging will be consistent. These work by providing your teams with a view of the customer’s journey from channel to channel, whether it’s search/click history, purchase history or even social media and customer service interactions.
5: Smarter Customer Experience Activity
Following on from point 4, it’s important to consider how an SCV can enable highly effective marketing across a range of channels. The idea here is that customers can change the channels they use to interact with your business and still receive a seamless experience. For example, when walking into a bricks-and-mortar, a customer could receive a push notification on their phone welcoming them and informing them about current offers.
Additionally, self-service checkouts could addresses customers by their name or voucher codes for money off future visits could be emailed when leaving the store.
Each piece of customer touch point would have the same branding, imagery and personalisation, which can only be done with an SCV.
6: Better Customer Service
A Single Customer View gives customer service/support teams all the relevant information needed in order to provide a seamless service experience. This could include an overview of past purchases, actions or interactions with your channels. An SCV removes any guesswork and provides a full picture of your customer’s relationship with your organisation. Practically, this could exist as a dashboard that CS could pull up when a customer calls, featuring all relevant information in one place.
In Summary
These are just six benefits that Euler clients experience after implementing an SCV. However, this isn’t a definitive list. An SCV will convey benefits to teams right across the business, even down to shaving seconds off common processes, resulting in significant increases in efficiency over time.
Is it time you implemented a Single Customer View? Euler account managers are on hand to guide you through the process of getting started. Get in touch with our team today.
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