How to grow your business effectively – this question plagues most business managers and owners as the current landscape is highly competitive. The modern customer journey is complex and challenging.
Nowadays customers touch across multiple digital channels to make even a single purchase. This creates an interesting opportunity for businesses as they can tap their digital footprints and help in providing a consistently delightful experience.
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If you are always on the lookout for innovative ways on how to grow your business, make sure not to ignore building a 360-degree view of customer journeys. If you have not heard of this revolutionary concept, it’s high time to get to know about it.
A 360-degree view of customer means to collect all data in a unified place so that you can track their activities through a single digital profile. If you are an entrepreneur or small business owner deciding on how to grow your business, don’t undermine the importance of a 360-degree customer view. This means that you will get real-time information on the various channels that a customer accesses before making a final decision – a vast pool of valuable information!
According to a recent survey, less than 10% of business organizations harness the power of 360-degree customer view for growth and higher revenues. That’s definitely not good news! If you are sloppy with customer service, your company will get left behind in the current competitive business arena.
Organizations need to monitor the various touchpoints where consumers meet brands such as social media pages, marketing communications or service helplines. This will help them gain a comprehensive view of the customer and understand their behavior better.
4 Ways to Grow Your Business
1. Better Customer Intelligence
One of the prime reasons for utilizing a 360-degree customer view is to provide real-time data access to your staff members who are interacting regularly with clients.
Information is of no use if it is lying untouched in silos or repositories. Advanced tools such as customer relationship marketing software can ensure that support representatives have information about all the digital touchpoints that a customer has interacted with within the course of their brand journey.
If your business is serving customers, chances are high that you are thinking about how to grow your business and surge ahead of competitors. Customer intelligence is vital in the current era. A 360-degree customer view can ensure that all service requests, product inquiries, marketing communication, and historical purchase records related to the customer database are stored in one place.
This will help managers have a holistic view of the customer, and take the required efforts to make their brand experience exceptional. Once customers notice the positive changes in the level of service and support, they will remain loyal to your organization in the long run, and not shift towards other market rivals.
2. Enhanced Cross-Department Collaboration
It is essential for company departments to work smoothly with each other with a transparent flow of customer data. There should be no obstruction or hindrance in the seamless transfer of customer profile information.
One great way that you can use 360-degree customer views to grow your organization is by encouraging better team collaboration between various departments such as sales, marketing, finance, and production.
Shared CRM systems mean that these departments can easily share real-time information and other important documents instantly.
This helps in adopting smart tactics that will ultimately lead to higher revenues.
Having a broad customer view can ensure that sales agents and support representatives take wiser decisions.
For e.g. A customer service ticket may give a sales agent the opportunity to cross-sell or up-sell an advanced version of a particular product. Alignment between departments is a must as it creates higher brand awareness, aids in increased team engagement, and creates a strong data-driven organizational culture.
3. Personalized Customer Experience
If you are wondering how to grow your business with a 360-degree customer view, make sure to leverage its advantage by providing personalized customer experiences. Use aggregated data to make sure that the support representatives who remain in touch in customers have important details such as their name, their product preferences, and past purchase history.
Holistic customer maps can ensure that organizations segregate their CRM platforms into different sections, so as to offer personalized solutions to various segments.
Simple gestures such as calling a customer by their first name, or remembering a past purchase transaction can assist in forging life long connections. Customers that feel valued by an organization are far less likely to switch to a rival brand, rather they will motivate other people also to endorse products or services.
Getting a comprehensive profile about customers through a 360-degree view is a great asset that can help marketing and sales agents customize their service offerings and provide an excellent experience to clients.
4. Predictive Analysis for Smarter Service
Artificial intelligence has changed the way organizations communicate and interact with their customer base. Innovative tools such as automated CRM platforms will not help marketers see what their customers have done in the past, they will also aid them in figuring out future moves.
Since 360-degree customer views involve storing all the data in one place, it becomes easier for detailed analysis and forecasts. Effective forecasting can ensure that sales representatives are in a strong position to know customer preferences, and this will give them opportunities to cross-sell or upgrade products.
Since all touchpoint channels with customers are monitored in a 360-degree approach, managers have a better chance of foreseeing the outcome of a marketing proposal.
They can tweak and make changes to their campaigns that will remove the negative aspects for customers and give a higher chance of overall success. The ability to leverage the power of predictive analysis will have a positive impact on nurturing customer relationships, increase client acquisition, and boost long term retention.
Customer is king – it is no secret that modern businesses go all out in taking efforts to keep their customer base delighted at all levels. If your organization can view customer data from all angles, it will surely scale the peaks of success.
Stop only thinking about how to grow your business, rather take the required action right now. New-age CRM systems effectively track all digital footprints of customers and maintain vast repositories of databases that are accessible across the organization.
Detailed insight into customer intelligence can help marketers and sales representatives make correct business decisions and plan strategic moves. So, if you are wondering how to grow your business, adopt a 360-degree customer view immediately to witness a positive transformation!
Originally published January 28, 2020 , Updated : August 27, 2020