Businesses have always sought ways of improving their performance to gain a competitive edge and fuel growth. How this is achieved often manifests itself as one or more initiatives: improving services, enhancing products, increasing sales, taking on and retaining the right people, enhancing customer experiences and many more.
Over the past five years or so growth and service improvement has been a challenge for many; it has got harder for some post Brexit. It is perhaps therefore a time to reflect on what might work in our own businesses, perhaps looking elsewhere for ideas and new approaches to help attain a new competitive advantage.
In times of adversity I’m reminded of a piece of advice from a trusted and valued business advisor
“In times of trouble, loving your customer is the best policy”.
It is perhaps therefore not surprising to discover that in Experian’s annual Digital Marketer Report (2016) which covers challenges and priorities for marketers, that
"97% of organisations are looking to achieve a complete view of the customer".
Thirty-eight percent cited “knowing their customers” as their top challenge for 2016, and 52 percent named “enhancing their customer knowledge” as one of their top three priorities.
Proven business case
The business case for a single customer view is well established. Having the right customer relationships increase trust and loyalty, resulting in more repeat business and can lead to customers recommending you to friends and colleagues.
There is therefore a tremendous opportunity for business leaders to seize the moment and put in place a customer insight platform that will support their single customer view initiative and give them the best chance of knowing their customers better to fuel business growth.
Clearview provides products and services to help businesses attain customer insight from the data they hold or can obtain about their customers. We help build that sometimes elusive single customer view. Through our work we can state that the business case does stack up, a single customer view can and does work.
Eight fold increase in customers...
Indeed we had one client recently publish a case study on how they had achieved an eight fold increase in audiences for dance events – how? By identifying their best, most loyal customers, understanding them through data held about their attitudes and behavior and then importantly using it to take the necessary steps to ensure that a new product proposition for dance events was packaged appropriately for their most valued customers, improve adoption, stimulate interest and importantly drive sales growth. It worked!
We had another client that wanted to improve customer satisfaction by delivering services that tackled customer priorities and not necessarily their own. They said,
“The Clearview system has been fantastic for us. It is quickly becoming embedded within our organisation and fully supports our customer centric approach. It has enabled us to focus on the things that matter to our customers and deliver against them. This has had a hugely beneficial effect on customer satisfaction, a reduced cost of delivery for us and an increase in staff morale as we are genuinely delivering a top quality service to be proud of to our customer communities.”
Don’t get me wrong, building a single customer view is not a stroll in the park. Indeed the Experian report goes on to say that 81% of marketers were reporting challenges in achieving a single customer view. Namely:
- Inability to integrate multiple data sources and technologies (49%);
- Technology to integrate customer data in real time (54%); and
- Access to data from across the organisation (48%).
However, don’t be put off, these are problems that can be solved. If you want your customers to love you, you need to understand them – a single customer view is a great way of doing so.