How important is a 360 degree view of the customer? Is 340 good enough? Is there such a thing as “single source of truth”?
With channels exploding, particularly with social media, it has become tough to know the customer. And, some days, perhaps most days, customers don’t always want to be known. They do want a great experience when they decide to buy or engage. They will let you know when they don’t have a great experience and want to complain. A social media command center that monitors what is going on is crucial. Who is monitoring Twitter and Facebook for customer problems? Who is responding for you on your behalf?
With the internet of things taking off, it just became almost impossible to keep up with the data. It will get better but we may be getting left behind.
That doesn’t mean we shouldn’t try. We must do what we can to know the customer and serve them. To do anything else is business folly.
Connecting insights and data in a comprehensive or single customer view is critical for delivering a seamless experience, but many companies are struggling to do so. In fact, 42 percent of companies are working to achieve a single customer view to enable cross-channel marketing and to reduce operational costs, reports Experian Data Quality, a subsidiary of the information services company, which surveyed 250 people in marketing, data management, and customer service departments. Only 24 percent of the respondents said they have a single customer view.