by Guest Blogger: Ben Salmon, Partner at Transcend360 Consulting.
For many years, we marketers have been striving to achieve utopian state by knowing everything there is to know about our customers. We have even labeled this objective as the “single customer view” but the main challenges organizations have found are:
- Managing the view on an ongoing basis, given the demand for big data, or just about any new customer data, in the organization is a continuous battle with a huge cost. (Data total cost of ownership)
- Keeping analytical data updated is unrealistic (data relevancy)
- Handling customer channel hopping is unachievable (data accuracy)
- Delivering recommendations on interactive channels end up latent or irrelevant (data appropriateness)
- Handling triggers do not have all the information to make the right offer or incentive (data timeliness)
- Service and Sales customer interactions are treated independently (data silos)
So with all these challenges in place can we truly have a single customer view? As we knew it, the simple answer is no! The single customer view is appropriate for on-going, organizational led communications, however for consumer-led interactions, organizations will be paralyzed to make a decision in real time due to the constraints around the volume and recency of data.
In a recent IDC web conference, one of their key findings was: "the high demand for sales and marketing revenue analytics will pressure organizations into moving away from older CRM systems, which may cause infrastructure disruptions".
Organisations which deliver instant decisions across all channels will have a differentiated offering. If only they could act on this data to be more relevant and make it easier for customers.
Read the white paper to find out about:
- Dynamic Data - i.e. interaction/session data, accurate up to last click / conversations
- Static Data - i.e. deep historic data, which provides value and behavioral insight
- How to form a Single Individual View enabling marketing to understand:
Want to find out more?