How well do you know your customers? As in, really know them. Do you know who they are? What they like? How they interact with your brand? The likelihood is you don’t. In fact, according to our recent research into the digital divide between marketers and consumers, it’s clear that marketers are struggling to get a solid grasp of their customers, with 83% of UK marketers and 85% of US marketers agreeing that it is a challenge to unify consumers’ data to individual customers when they have multiple digital identities. However, as customers expect brands to understand their needs and interests, and deliver experiences which reflect these, as a marketer, it’s time to shift your focus away from product-centricity, towards customer-centricity.
Thankfully, brands can build 360-degree views of their customers to improve their understanding and deliver experiences to meet their needs.
What is a 360-degree view of your customers?
Think of a 360-degree customer view in the same way you would the Arc de Triomphe. When stood at the top of the iconic monument, you can take in sweeping views across the whole of Paris. With a 360-degree view of your customers, you get that same incredible view, but of your database, not Paris. In simple terms, a 360-degree customer view means having a complete view of your customers, including their details, preferences, interests, transactions, and interactions – improving your understanding of them and the journey they take when interacting with your brand. This eliminates any blind spots and facilitates the shift from transactional relationships between brands and consumers to experiential.
Why is a 360-degree view of your customers important?
The benefits of a 360-degree customer view are endless. Whether you want to improve operational efficiency or better your targeting, the benefits can impact all areas of an organization, not just the marketing department. However, most importantly, by adopting a 360-degree view, the benefits will also be felt by your customers, resulting in a more positive and customer-centric brand experience.
Improve your understanding of your customers
Customers are undertaking increasingly complex journeys while interacting with your brand, largely driven by the increase in the number of channels available. The average customer will interact with a brand across 20 channels, and as we’ve already established, marketers are struggling to unify the numerous identities linked to a single individual. And it seems as though this struggle has been noticed by customers as our research revealed that only 35% of UK consumers and 51% of US consumers feel as though the brands they use understand their shopping needs. With a 360-degree view, however, you won’t need to worry about this as you’ll have all the information you need at the click of a button.
Deliver personalized customer experiences
Customers now expect personalized experiences as standard, with 42% of UK consumers and 68% of US consumers saying it’s important to them to feel as though brands are creating a personalized experience.
However, delivering personalized customer experiences is an impossible task if you don’t have a solid understanding of who they are. Interestingly, 88% of UK marketers and 81% of US marketers agree that their marketing team can deliver a consistent and personalized offer or message across three or more marketing channels. Yet as we’ve already established, this doesn’t correlate to their customers feelings or in fact, their own, as they agree that they are unable to unify their data to get accurate views of their customers.
This should be a big red flag for marketers as 45.5% of consumers said that the lack of a personalized experience would stop them from buying a product/service. This rises to 56% for products not being tailored to their needs.
By gathering all customer data into a 360-degree view, you’ll get a complete view of your customers and can draw on this information to deliver hyper-personalized journeys. For instance, if you can see your customer purchases a repeat product every six months, on month five, you could send them a message via their preferred communication method reminding them to re-purchase. You could even offer them a promotional code to help seal the deal. Or, if your customer has recently purchased a pair of shoes, sending them an email showing the matching bag removes the effort for your customer and could generate a sale.
Increase brand loyalty and retention
Customers have more options than ever before and are happy to jump ship to another brand without a second thought. However, an improved understanding and better personalized experiences can change this. Think of it in three simple steps:
Better understanding = personalized experiences. Personalized experiences = happy customers. Happy customers = loyal customers.
By showing your customers how well you know them and tailoring their experiences to reflect this knowledge, you’ll likely reap the rewards in the form of repeat purchases, excellent reviews, or increased engagement.
How can a Customer Data Platform (CDP) help you achieve a 360-degree view of your customers?
Superior quality data is the foundation for successful marketing, so, before you do anything, you need to look at your data.
The first step towards achieving a 360-degree customer view is unifying your data, and for many marketing teams, this is their biggest barrier to success as their data is stored on siloed systems. A CDP collates and unifies all your customer data into one central, unified system, ensuring all members of the marketing team can access structured, accurate data.
A CDP de-duplicates and cleanses your customer data in real-time and uses this to create a Single Customer View (SCV) of each of your customers. It’s this SCV that stores all information and interactions for a customer and ultimately gives you a 360 view of your customers.
With the Upland BlueVenn CDP, you can take your customer data to the next level. Our unique technology not only unlocks our customers’ ability to unify their data into a Single Customer View but enables them to activate this data via our Omnichannel Marketing Hub. With our Omnichannel Marketing Hub, customers can orchestrate hyper-personalized, one-to-one journeys, ensuring they deliver the right message, to the right customer, on the right channel, at the right time. Moreover, as customers continue to interact with your brand, this will automatically update the SCV, providing you with an easy, seamless way to manage your data and provide personalized customer experiences.
To see how BlueVenn’s CDP and Omnichannel Marketing Hub can help you achieve a 360-degree view of your customers, sign up to our live demo.