A 360 view maps each customer into customer segment(s) to allocate resourcing and align business processes based on customer contribution or other business drivers. The ability to learn and predict customer responses to company actions will increase new customer acquisitions, customer share and customer retention. With each customer’s acceptance or rejection of every offer the system is updating and adjusting the NBO algorithm. Or at a customer specific level, the CRM system can identify the Next Best Offer based on the offer acceptance rates of similar customer types.
Similarly, when the CRM software detects an initial pattern – such as a trend showing certain types of customers positively responding to an up-sell or cross-sell offer – that offer can be quickly scaled among like type customers. For example, measuring the outcomes of advertisements, marketing offers, sales proposals, cross-sell offers, loyalty program promotions or customer service responses for each customer segment allows the company to adjust and direct its messaging and actions with greater specificity for improved and predictable outcomes. Customers are not homogeneous, so company actions or inactions with customers must be designed, measured and reported by customer type or segment in order to achieve high confidence patterns that can be modeled and scaled for predictable results. Sample recommendations may include Next Best Action (NBA) for an account plan or Next Best Offer (NBO) for a marketing campaign.Įvery customer interaction should contribute to a business performance goal – such as an increase in customer share, loyalty or retention. Based on sum of these calculations for the customer, or the customer segment, the system can recommend the highest probability actions for marketing, sales or support scenarios. For example, outcomes may be customer satisfaction or dissatisfaction related to a product sale or call center incident, or the acceptance or rejection of a sales proposal or marketing offer. A 360 view captures each customer’s interaction history and calculates an outcome for each event.
A 360 view displays customer insights that show how to solve for the customer, delight the customer, upsell and retain the customer, and deliver relevant, personalized, contextual and predictive Customer Experiences. Here’s what that 5% know.įirst, it drives customer intelligence. According to Gartner, fewer than 10% of companies have a 360 degree customer view, and only about 5% are able to use this view to systemically grow their businesses. The often cited but seldom realized 360-degree customer view is a holistic customer profile record that captures five types of customer data from across channels and systems, aggregates that data to understand what’s important to customers, and applies those customer insights to deliver personalized and engaging customer experiences as well as achieve company performance objectives.