- May 15, 2020
Since the evolution of inbound marketing, the customer-centric business operation has become a new common. In order to optimize the business operation whether its sales, marketing, or even services. It is critical to have a better understanding of customer needs to enhance customer engagement, customer loyalty, and customer retention. Having a “360-degree customer view” helps in acquiring customer data for optimized business operations.
What is a 360-degree Customer View?
The 360-degree customer view is a single end-to-end picture of a customer’s journey as well as experience with a company. It stresses customers having an experiential relationship with the company, rather than a transactional one. This holds the key to long-standing customer loyalty and positive endorsements.
The 360-degree view enables the company to collect all-around information about the customer and leverage it to provide the most efficient and personalized customer service.
A Statistical Overview of a 360-degree Customer View
- 86% of Buyers Pay More for a Better Customer Experience
- CRM Market is Expected to Reach $80 Billion by 2025
- 90% of Marketers Believe a Unified Multi-Channel Customer View is Important
- Only 20% Among them have a Customer View
- Fewer than 10% of Companies have a 360-Customer View
- Only 5% of those companies are able to Leverage its Power
The 6 Essential Benefits of 360-Degree Customer View:
1. Single Source of Truth
Offering access to data and integrity is fundamental for your organization’s success as it provides a single source of truth concerning your customers.
2. Data-Driven Triggers
With the help of data-driven triggered events, organizations are able to interact with customers automatically in real-time to influence their buying decisions.
3. Accurate Reporting
It facilitates a consistent and accurate reporting of various activities and results.
4. Reduces Cost
Integrating a 360-Degree Customer View enables you to deal with your low-value customers in a different manner.
5. Cross-Channel Engagement
Simplifying the implementation of cross-channel campaigns across different systems yields relevant and consistent engagement among varying multiple channels.
6. Personalization and Segmentation
Allowing dynamic personalization and segmentation of different campaigns by using a wide array of real-time behavioral attributes of the customers makes for more effective and relevant results.
Need for a Better Customer View
The business world has gone through a change over the years. Today, there is an additional focus on customer experience, one that was distant in the past. The customer-centric landscape has allowed the introduction of holistic strategies and concepts that reap maximum results. The more customer data we have the better-optimized customer experience we can provide and can lead to better customer journeys and the result is quantified revenue. we can draw a conclusion that 360-degree customer views are requisite for better business operations.
At RecoSense, we understand the importance of the same and provide the requisite solution to your company in your bid to provide a 360-Degree Customer Experience.
With an AI-first approach and strong expertise in AI frameworks, RecoSense is a one-stop partner for end-to-end Data Intelligence Solutions. Our industry-unique cognitive computing platform based on Natural Language Processing and Machine Learning frameworks offers Intelligent contextual interpretation of the Content & Users.
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