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The landscape involved in product evaluation and buying has changed beyond recognition. Consumers have access to a plethora of channels and devices to allow them to choose exactly when and how they shop, and the ability of organisations to influence customer touch-points, and decisions along the way has become steadily more complex.
However, understanding the journey that individual customers take, and the increasing number of tracked touch-points during the searching/buying process, provides companies with many customer engagement opportunities.
The challenge is tracking and storing the data associated with every single interaction and having the tools to query such infinite amounts of data. Quite often organisations feel swamped by 'Big Data', not knowing where or what to look for means brands fail to identify hidden gems or actionable insight. This is where an effective 'Single Customer View' (SCV) comes in.
SCV is the portal that allows organisations to view collected customer data across all channels utilised by the customer - an intelligent central repository that understands the relationship between all of your customers journey points.
The SCV provides accessible yet detailed information about every individual customer's activity in chronological order. This powerful holistic view of your customer's activity can be incredibly insightful and telling, not only enabling you to understand what events occurred but in what order and on what device.
Traditionally, the data from individual marketing or information platforms would be analysed separately by different teams within a company - in many organisations this is still the case. This makes it almost impossible to track an entire customer journey between platforms. If internally, marketing teams work in silos and data is held in equally separate silos, how can a customer's entire journey ever be understood? More on this from econsultancy.
For example, a customer may view a product on their mobile whilst travelling to work, visit a store during their lunch break, open a related email on a work computer and finally purchase a product online on a PC at home. Viewed separately, this customer's behaviour is fragmented and confusing. However, when viewed as a single journey with multiple stages through a SCV it begins to make sense.
Understanding the touchpoints, timing and context of a customer's journey is vital, allowing companies to add value through personalised interactions driven by specific customer preferences on various points along their evaluation/purchase route.
"An improved customer experience ultimately improves retention, NPS and receptiveness to buying additional products and services...It improves revenue".
SCV has become an essential tool to enable brands to ensure customer experience is at the heart of what they do. The SCV takes the data collected to present the 'what', 'how' and 'when' of every customer interaction, making the 'why' much easier to figure out. Understanding the 'Why' will provide the foundations for brands to implement comms to address any shortcomings in product/service offering.
We are all customers
As customers, we want to be able to achieve our buying objectives with as little effort and as much support as required. We want to feel confident that we have made the right decisions and are satisfied enough to share positive experiences with our friends and family. We want successful, satisfying and sometimes memorable experiences and we want to be able to repeat them too.
Brands have to adapt to succeed. They have to utilise data from all sources and act on gathered insight to provide customers with a 360 degree consistent experience if they are to stand a chance of competing in todays market.
Intilery's SCV gathers data from all off and online marketing channels, 3rd party data sources and internal legacy systems to provide powerful insight. The unique Data Planning System that comes as standard with the platform enables brands to interrogate data held in the SCV to drive personalised, meaningful targeted campaigns.
Needs some fresh ideas? If you would like to see how Initilery could help you gain insight through the development of a robust SCV contact firstname.lastname@example.org