How well do you use the touchpoints of your customers' journey?
Here are some tips for helping your customers reach their target even better
Create a captivating customer journey
The phenomenal development of digital technology over the past decade has given consumers a completely new sense of power: they are now so skilled in the use of information and technology that they can set the rules of the game. They decide what they want, when they want it - and have it delivered for the lowest possible price. In order to continue to be successful in the market despite these developments, companies must also exploit new opportunities and technologies. They develop new analytical skills and learn how to handle big data to better understand their customers and try to use this knowledge to regain control. But most of the time they only react to their consumers. They try to anticipate the next steps on the customer journey - the decision making process between idea and purchase - and then position themselves accordingly.
New target: Leading instead of accompanying
It’s far more effective for companies themselves to actively shape the customer's journey. This will restore the balance of power. Instead of letting consumers decide on their own customer journey and only accompanying them passively, successful digitized companies determine the course themselves. These companies don’t follow – they lead. They adapt the shopping experience so carefully and captivatingly that each customer is deeply attracted by offers from the outset. The forced measures used by companies a decade ago to keep their customers loyal are no longer necessary. Sophisticated customer journeys are so successful because they create new value – with customers remaining loyal because of the benefits they receive on their journey.
The 360 ° View enables a Real-Time Customer Journey
However, such a service can be successful if companies aggregate the knowledge gained about the preferences and behaviour of their customers into a 360-degree view. But it's no easy task to keep an eye on customers in various CRM and ERP systems, call centre systems, service hotlines, complaint management and support portals, web shops, etc. Knowledge about the customer is often spread around in data silos in different departments and remote locations, and employees must laboriously search for the information they need.
When a uniform platform for customer master data is missing, problems are inevitable. A heterogeneous database with outdated and faulty address data and differing formats will make even the most elaborate marketing campaign pass by unnoticed. The profitability of the marketing budget is endangered and time-critical actions doomed to failure from the start. Missing segmentation characteristics complicate the selection of the target group. The chance of addressing existing customers and prospects at the right moment, and with the right offer, is more a case of luck than judgement.
Five success factors for effective Customer Data Management
Relevant information (whether and when a prospect became a customer, when they bought what, their preferences, etc.) is difficult to understand or relate to when it comes from separate systems. Effective CRM is far more than simply collecting customer data. If the company can use all available data on one platform – such as contract data in combination with usage data or evaluation of surfing behaviour on the internet - each customer can be individually targeted and managed. Customer centricity can only work in companies when the following requirements are met:
- Complete knowledge: the ability to capture the most comprehensive, consistent and up-to-date customer information available and make it readily accessible to the relevant employees in real time.
- Micro-segmentation: communications and sales need finely managed campaigns to ensure
- Relevant communication.
- Perfect timing: campaigns that reach the wrong people at the wrong time contradict a positive customer experience.
- Service across all channels: a consistent, competent and expedient service experience across all touchpoints is extremely important for maintaining loyalty and image.
Movement data as the key for personalised customer interaction
In addition to pure contact data, other information (such as preferences, hobbies, previous interactions, processes and procedures, etc.) must also be retrievable in the system. In other words, a Golden Profile must be created.
The rise of competitive customer journeys is the result of new programming, data access, and user-interface technologies that enable customer behaviour and personalised interaction to be tracked at unprecedented levels. With “Ground Truth” we provide a process and solution methodology for tracking your customers across different channels and linking data from a variety of sources to create an overall picture of what a customer is doing and the result.
Ground Truth - the basis for successful customer journeys
Ground Truth comprises all customer-related master and movement data:
- customer master data available from different sources (Golden Record),
- in combination with customer-related interaction and movement data,
- the real 360-degree view of each individual customer (Golden Profile).
Whereby movement data comprises the following:
- customer behavioural data (orders, transactions, payment history, length of stay, etc.),
- data describing the customer (attributes, self-information, demographics),
- customer characteristics (opinions, preferences, needs, wishes, etc.),
- customer interaction data (offers, results, context, click streams, notes, etc.).
Because movement data provides decisive information about the customer and their customer journey, its inclusion is immensely important for obtaining a comprehensive view. The Golden Profile gives an insight into customer behaviour in real time - identifying key moments when companies can influence the further course of their customer’s journey.