Why do you need a Single Customer View?
In most organisations, departments cannot benefit from all information of a common customer. Departments are not connected in such a way that information is shared and combined easily, which means information is often missing. The Single Customer View enables departments to create a 360˚ view of your customer. Customer information is collected, checked, cleansed and improved by connecting all departments and combining the available information into one Golden Record.
Departments like sales, finance, logistics and marketing all have their own information sets, which only show certain characteristics of the customer. Finance departments know how and when customers paid for a product, sales departments know what the customer is interested in, logistics knows when the product was sent out and marketing knows that the customer registered for discount on a product after a certain emailing campaign.
This information may look sufficient for the mentioned department, but in reality it is often not. It will result in departments working at cross, instead of working together. The lack of correct information can lead to business related problems.
The biggest challenge for the marketing department in this case is that it does not know about the buying behaviour of the customer and can therefore not reach the customer effectively. The logistics and finance departments may not know that ‘’two customers’’ (e.g. professional and private names) are actually one person and will work less efficient on sending out products and managing financial records.
By implementing the Single Customer View, companies can open a new road into departmental cooperation. They can use the combined information at any time and make their communication with the customers more personalised.
Business related advantages of having a Single Customer View
- More effective and efficient marketing campaigns (due to data cleansing)
- Higher return on investment
- Cross- and upselling potentials are easier to recognise
- Better sales and marketing strategies
Customer related advantages of having a Single Customer View
- Higher customer satisfaction
- Durable customer relationship
- Offer a higher level of service through better customer understanding
- Personal customer contact through social media