In order to understand this complicated marketing term known as the single customer view, one first needs to understand what the term means.
Most researchers define a single customer view as a holistic, consistent representation of data, which is used by the industry or an organization to know its customers. Now it sounds little-complicated, right? Well to understand this term more clearly one first needs to understand the term “multination customer service.”
Multinational customer service
The communication that is used by customers to reach out to a brand is known as the multinational customer service. The communication medium can be through the help of social media forums like Twitter, Instagram, or Facebook or through an online form or telephone service. For instance, take into consideration an e-commerce site like Amazon. If a customer has a problem with a product purchased through Amazon, the individual can contact the brand with the help of the customer service available on the website or with the help of free social media forums available on the Internet.
It has to be noted that social media forums and the customer service of Amazon are run by different teams of the company so it is obvious that the customer will have a different experience within each category. In addition, it must be noted that today’s customers are not bothered for what purpose that social media was created by the company as long as their query can be solved. For instance, the social media forum of Amazon may have been set up only for broadcast marketing; however, customers may still contact the brand through this channel. Hence consistency in solving a query for the customer is expected across every possible channel.
Importance of single customer view (SCV)
A single customer view is a technique where the industry can track the communication of all its customers through every available channel. Moreover, some quick benefits of this technique include higher conversion rates, better customer service and customer lifetime value (CLV). In addition, a single customer view also leads to a better relations between different teams in the company and helps in developing a more cohesive way of increasing customer satisfaction.
Thus, in order to have a better single customer view a company needs to implement customer relationship management (CRM). Understanding CRM more deeply will let you know why it is important, especially for start-ups as this SCV acts as an asset for sales teams. With the help of this, sales teams have the ability to identify products that a customer purchases and also provides insights surrounding all the products that a customer is interested in.
Once these insights have been analysed the sales team can easily create targeted campaigns for its customers or create personalized products with the help of relevant data and customer identities. This deeper level understanding of the customer can provide a boost in sales for the company. For example, consider a customer who has reviewed a book on science fiction. By analysing this data the sales team of the company can create campaigns and online advertisement related to science fiction according to his/her specific tastes and interests.
Challenges to a single view lead
Having a good single view lead is beneficial for both retailers and customers. Retailers use cloud applications and on-premise applications to store data while customers use multiple channels and devices to communicate with the brand. This creates separate sources of data, which makes it complicated to create a single view of the customer. Thus, the challenge faced by retailers is organizing data in a single place. For instance, customer information can be stored in legacy systems and customer interaction is stored on a Facebook interaction platform. Thus, retailers have immense problems in creating a single customer view as the data between two systems is often both disparate and disorganized.
A single view customer lead is extremely important as it helps companies to boost in sales. The challenges that are mentioned can be solved with the help of certain software known as “any point platform”, which make use of any point connectors, data weave, and a mule.