Customers have access to inforation anywhere, anytime including where to shop, what to buy, how

much to pay and so on. This makes it increasingly important to utilize predictive analytics and data to
forecast how customers will behave when interacting with brands

The soal of customer analuics is to ireate s sinal accurate uietofa_customer tomake decisions about how
best to acguire and retain customers ident i f high_val ue customers and

proactively interact with _them. The better the understanding af a customer's buying habits and lifestyle
preferences, the more accurate predictiv e behaviors hecome and the better the customer journey
becomes. Without large aniounts of accurate data, any insight derived from analysis could be wildly
inaccurate

The Importance of Customer Analytics Customer analytics is becoming critical. To understand why,
consider this: Customers are more empowered and connected than ever. And hecoming more so.
Customers have access to information anywhere, any time - where to shop, what to buy, how much to
pay, etc. That makes it increasingly important to obtain customer insight to understand how they will
behave when interacting with your organization, so you can respond accordingly. The deeper your
understanding of customers' buying habits and litestyle preferences, the more accurate your predictions
of future buying behaviors will be --and the more successful you wvill be at delivering relevant offers that
attract rather than alienate customers

With Customer Analytics, You Can: Increase response rates. customer loyalty and. ultimately, ROI by
contacting the right customers with highly relevant offers and messages

Reduce campaign costs by targeting those customers most likely to respond

Decrease attrition by accurately predicting customers most likely to leave and developing the right
proactive campaigns to relain them.

Deliver the right message by segmenting customers more effectively and better understanding target
populations

How to Use Customer Analytics? Customer analytics is otten managed by on interdis ciplinary groun
made up ol business owners from different departments within the company, including marketing, snles,
customer service, IT and business analysts

To be effective and obtain the most meaningful insights, the group must first agree upon which business
metrics they need to achieve a single view of the customer experience. Multiple instances of customer
relationship management (CRM) applications, disparate enterprise resource planning (ERP) systems and
poor customer data integration (CDI) can leave group members with a fragmented view of the customer.

Customer Analytics Best Practices By measuring and analyzing data using specific metrics, organizations
can create successful customer interactions. Some customer analytics best practices and common
metrics that can help drive better business decisions include:
Targeting customers across all channels and analyzing the various ways a product or service can be
distributed.

Assessing and understanding customers in relation to the brand and-whether a customer is satisfied.
This can be achicved through a combination of quantitative and qualitative surveys.

Engaging with customers at the right moment through the right channel.

Predicting churn rate and taking actions to extend a customer's lifetime value

Spotting trends in big data and analyzing online behavior to increase sales.

Maximizing the customer joumey through personalized selling and market Segmentation by assessing
which customers might buy one type of product versus another.

Customer Analytics Tools

Customer analytics tools are specialized apps used to gain insig ht into the customer experience,
understand customer behavior and to he lp tailor marketing campaigns to specific customer segments.

These customer data analysis tools can be part of a CRM (Customer Relationship Management) suite or
sold as stand-alone platforms which do everything from collect customer data from different systems in
different locations (data integration) to data analysis and visualization. These tools also connect to
popular sales and marketing applications along with web content management systems, email, social
platforms and customer loyalty programs.

There are a number of customer analyties tools to choose from, provided by major CRM vendors and
niche software providers. Tools from major vendors in this space include:

Adobe Analytics Google Analytics 360

IBM Watson Customer Experience Analytics SAP Hybris Marketing Cloud SAS Customer Intelligence 360

Some of the tools integrate features such as user segmentation with systems which personalize websites
and that build niche marketing campaigns. As more customer analytics tools emerge, major software
providers will likely improve usability further so their tools appeal to a wide range of users, and they'1l
add integration and new services. In addition, advanced features will be built into connected systems,
including omnichannel content management platforms.

Customer Analytics Tools for Every Business Size

The more you know about your customers, he likelier you are to be able to make them happy. This is the
idea behind customer analytics, which according to Gartner, means using data in order to gauge
customer sentiment and satisfy their needs. The idea of using data might be a scary one for small
businesses. but customer analytics tools can be found in surprising places that you might not even
realize. From CRM to social media listening. you may already be using customer analytics tools that can
give you insight into your cuslomers.

Speaking with customer service expert Shep Hyken, he says that no matter the size of your company-
there are tools out there that make collecting and using data easy.

The right analytics will allow you to see a trend, and in today's world where artificial intelligence is
starting to analyze data for us, it will not only spot trends, but will make predictions with uncanny
accuracy. If all you do is put in the big numbers, it will be able to predict the big trends., But if you start
putting in analyties and data from individual customers, it will start to predict individual customer
behaviour with uncanny aecuracy.

Being able to collect this data on both an individua I level and on a larger scale gives businesses the
opportunity to create tailor-made campaigns and direct them at specific customers, as well as strategize
their marketing and sales tactics to the business at large.

mim

Customer Analstics Tooks for Bedinners Beginner tools fall on the more affordable end of the price scale,
and while they may haye fewer features dedicated solely to customer analytics, they're a good way to
whet your appetite.

1.

CRM: ZohoCRM

Zoho uses data from its own Zoho CRM, as wvell as pulling in data from other Zoho products and third-
party apps for its customer analytics Its reporting features will give you an overview of your most
suceessful marketing campaigns, your most valuable customers, and which leads need nurturing. ou can
also creale your own formulae to get reports tailor-made to your specific needs , as well as dlashboards
that will give you a high-level overview of your data

2. Customer Service: Intercom

Intercom is a customer service and messaging platform to keep track of and stay in touch with customers
It lets vou start the communication process with live chat, and then progress customers through to
conversion with lead tracking and marketing automation Because it keeps track of all ol this data w ithin
the system, it lets you drill down at the customer-levet to send targeted messages to customers at
varying stages of the customer journey. It also provides an overview of customer segments and Intercom
activity for bigger-picture data

Pricing: Starting at $53/month for 250 users

3.

Social media: Hootsuite The social media marketing software Hootsuite is good place to start if you're
looking to get a bit of visibility into how people are interacting with your brand. While its main function
is for content scheduling and sharing, it's more advanced solution, Hootsuite Insights, can drill down
even further to gauge customer sentiment and real-time social media listening on a more granular scale.
While you can see who is mentioning or retweeting your brand and how your campaigns are performing
via Hootsuite, Insights will give you more data about who's saying what about your brand online.

Pricing: Hootsuite starts at $9.99 per month

Analytics: Kissmetrics As a web and analytics platform, Kissmetrics provides valuuble insights into web
visitors and how they're interacting with your site, ineluding where they're elicking. and at what stage
they decide to leave. Giving yow datt about customer bchaviour, you can create

behavioural marketing campaigns targeted at distinct user groups. Putting unique user data together.
you'll be able to create segments of users to target based on their profiles and which stage they're at in
the customer experience journey for a higher conversion rate.

Pricing: Starts at $220 per month.

Custone A uiis os o ntemmedfite _ets

ntermediate options are a bit pricier but have more robust features that can be used for deeper
customer analvsis

1. CRM: AgileCRM Agile CM is a CRM for sales and marketing that gives insights into contact-level
customer behavior. Its analvtics track things like which pages users have visited, how much time they"ve
spent on the website , and engagement patterns . all on a per-user basis Using this data makes it easier
to pinpoint users and cngnge contacts by phone or email via the CRM

Pricing: Free for up to 10 users, then starting at $14,99 a month

2. Customer Service: CloudCherry CloudCherry is a customer experience and analytics tool that'll give
you deep insights into your customers. A platform for collecting customer insights via email, web, and
smartphone surveys. CloudCherry collects and collates data from every channel and interaction that
customers have ith your company The results that it delivers will giveyou actionable ways to help
improve the customer esperience journey and retain more customers,

Pricing: Starting from $100 a month

3. Social media: Brand24

Brand24 is a social listening tool that gives data about conversation volume, influence score, and
sentiment analysis. Using this data makes it easier to pinpoint trends, spot recurring customer issues, or
locate the right influencers to help in your marketing or outreach campaïgns while also largeting the
right customers.Pricing: Starting at $49 a month.

4.

Analytics: BIMEby Zendesk

The popular customer service solution Zendesk offers an analytics tool in the form of BIME. BIME pulls in
customer experience data from a variety of different sources including Google Analytics, Adwords,
Salesforce, and Zendesk, presenting it in dashboard form to give a high-level o verview of performance
and customer segments From there, you can drill down to get usefu I information about the success of
campaigns how customers interact and when they're more likel to convert. Its forecasting and reporting
features also help predict future sales figures to help you make the right business decisions

Pricing: Starting at 5490 per month for 2 editors and 10 viewers.

Customer centricity

"A company's primary responsibility is to serve its customers . Profit is not the primary goal, but rather
an essential condition for the company's continued existence. "- Peter Drucker

Types of Customer 1. Internal Customers ⁃ Individual or a group of pcople you may interact/scrvice
within the organization

Examples: IT

Cafeteria ,HR ,Training, etc.

2.

External Customers ⁃ Somconc who comes to your organization for product or service - thc cnd
customer. Thesc customer depends on the time , quality and accuracy of your organization work.

Examples : Client. Vendors, Visitors

ete.

Customer Centricity involves aligning organizational resources for effectively responding to the ever-
changing nee ds of customers, while building muttally profitable relationships. Craig Bailey & Kurt Jensen
Most of us USC 1t in the sense ol puiting the customer at the center, Realizing that E regardless of time,
creating customer value and really putting customers first, beyond a simple customer focus, at generates
most and longest lasting business value. ⁃ means attending to the customer's needs,
Customer Centricity is the only key differentiator in the current competitive market - all competitors can
obtain the technology and can make or buy the content. Customer expectation of service is growing and
growing - led by sectors beyond the Telecom and media sectors

Developing Customer-Centric Culture Put employees in the customers`shoes Put employees in the shoes
of a particular colleague Review your habits and attitude Be evaluated in a 360-degree approach by
colleagues you frequently deal with (through a random selection.

Customer Service ◦ is an organization's ability to supply thieir customers ' wants and needs

It is about treating customers with respect, individuality and personal attention

• It is the ability to provide a service or product in the way it has been promised.

Customer Service Elements Friendly Behavior Accuracy when providing information Confident Respectful
2 Welcoming Honest Professional I Care attitude

Attitude Checklist What attitudes assist in providing good service' • Enjoy helping people • Handle
people well • Care for your customer • Give fair and equal treatment 1o all • Be understanding of pcople
withispecial needs

Displaying Customer Service Attitude 1. Using Positive Language - Our beliefs fuel our actions. Positive
beliefs lead to positive actions and negative beliefs lead to negative actions.

2. Being Enthusiastic - Enthusiasm spells the difference between mediocrity and accomplishment.

3. Conveying Speed or Urgency - Y our problem is important.

4. Taking Ownership or Accountability - To the customer you are the company.

5. Being Courteous/Polite

Example: May I please suggest something at this point

• " It was my pleasure serving you

• " Thank you for your paticnce.

6. Voice Control Customers should hear warmth, cnthusiasm, care and commitment in our voices

Don`t sound a if you know il al|l,

Speak softly. clcarly and courteously nt all times,

Speak with a moderate pace and svith appropriate volme

Sentences should be short ad simple

7. Problem Solving Know your producthwork well Accept responsihility to take care of the problem Tell
the custemer what you are going to do aind when you are going to do it, Take immediate action to solve
problem, Follow up to ensure that problcm is solved, Make amends if somcthing gous wrong Give
options Be pro-active lanticipate customers? need ‣ Create a win-win situation.

8. Rapport Building Respect the other person and do not ake him her for eranted. Say please and thank
you w hen asking Customers for intormation

Make it easy for the other person to accept you. Use the Customer's name. Show you are human too.
Show your interest in the Customer's needs Let the customer know what the options are

Listening Active listening Attending skills (being ready) • Attend to immediate needs (if you need to
finish something before giving your full attention) . Being available • Eye contact • Attentive posture •
Concentration

JESSON 2; CUSTOMER_ CENIRIC CTANRACICRISTICS

Sympathy & Empathy

Sympathy - (Capacity for) being simultaneously affected with the same feeling as another E.g. "T'm really
angry about this too. "

Empathy -Power of projecting one`'s personality into (and so fully comprehending) the object of
contemplation. E.g., ""T can understand how upsetting this can be."" innin Empathy "I understand"
statement holds no meaning for the listener iflit is not combined with the emotion of the customer that
you relate to!

What you may say: "I understand how frustrating that can be/how you feel. "1 can understand how this
must have thrown your scheduleloff balance"

Customers don*t care about WHAT you know, until they KNOW that you care.

How can you take Ownership? ‣ Take Full Responsibility

Do what is required Think about solution Do not be fearful of raw situations

Mistakes We Make Trying to Justi f Passive Listenine " Being Rigid Giving Excuses Long holds
Contradictory statement Not giving alternative Avoidance Telling them its their ault

The Seven Characteristics of Customer-Centric Compnnies

scnbd.com/emibeds/517933301/content/ctart_page=1BMiew_

CUSTOMER ANALYTICS sT. iGnATIUS iNStiTuTe OF BUSINESS AND ARTS

They conceive of themselves not as a group of products, services, teritories, or functions, but as
portfolio of customers P

They know how much money they make or lose with each of their customers or customer segments,
and they understand yhy

They understand the different needs of different customers and group them into operational customer
segments and sub-segments based on common needs. They thrill their customers by delivering knockout
value propositions that competitors cannot match

They continually innovate by evolving their customer segments and sub- segments and improve their
value propositions as customer nceds change,

They organize their businesses into customer |segment business units to establish clear ownership of
the customer experience and accountability for the financial performance of cach customer business
unit.

They create a competitively unassailable customer innovation advantage based on a customer R&D
model grounded in continta I experimentation at key customer touch points,

They understand in precise analytie terms cxactly how their different customer relationships contribute
to or subtraet from the total value of the firm; because they manage their customer portfolio on this
basis, they know what to manage and where to invest in order to create sustainable. profitable growth
and drive outstanding share price performance over time

Customer Value

is the level of satisfaction of your customer towards your business. The word "Value" can have a number
of definitions or meanings. It's oflen related to price for those in business, as well as for many consumers
like if I were to ask you the value of your home when you purchased it. It could also be interpreted as the
worth of something, nou necessarily tangible products cither. Both products and services have value.

measures a product or service's worth and compares it to its possible alternatives. This determines
whether the customer feels like they received enough value for the price they paid for the
product/service. We ean look at customer yalue as insight into buyer's remorse.

We can look at customer value as insight into buyer's remorse. If customers feel like the total cost of an
item outweighs its benefits, they're going to regret their purchase Especially if there's a competitor
who's making a betterloffer than yours for a similar product or service.

Some examples of customer value are:

New functionality that customers can use to eam money Updates to the user interface of a product that
make it easier to use it
Improved quality of the product, for instance faster response time, higher availability, or inereased
stability Product services that customers enioy using

How to Measure Customer V aluc For some businesses, customer valuc hoils down to dollars and cents.
However, it's important to remember that customers giye more to your company than just what's listed
on the price tag. There are also time costs, energy costs, and emotional costs that customers weigh
when making a buying decision.

Similarly, there are different types of benefits that influence customer decisions. Some examples include
tangible benefits like how the productwill help them achieve goals T as well as image benefits like how
owning this product or Service will change one's social status in the - eyes of their peers and colleagues.

To measure customer value, we first need to recognize these different types of costs and benefits. The
graphic below can help by summarizing the factors you should be addressing when calculating customer
value.

1. Identify customer benefits. While the graphic above highlights some general benefits, here are some
specific one you can consider:

• The quality of your product or service • The ability to provide a better solution • Your brand's
reputation • Your unique customer experiences • The quality of your customer service team • The social
advantages of partnering with your business

2. Total customer costs. When measuring customer costs, it helps to differentiate between tangible and
intangible. That way you can calculate the total of your monetary costs and compare it to your other
costs

Tangible Costs: The price of your product or service Installation or onboarding costs The cost of accessing
your product or service Maintenance costs

Renewal costs

Intangible Costs: • Time invested in buying your product or service

A poor customer experiences Physical or emotional stress induced from buying or installing your
product A poor brand reputation Time spent understanding how your product or service works

.
3. Find the difference between customer benelits and customer costs, To calculate customer value. we
can use the equation below.

Customer Value Formula The formula for customer valug can be written as:

(Total Customer Benelits - Total Customer Costs) - Customer Value. or (B- C= CV).

However, it's important to note that since you're orking with tangible and intangible elements, this
formula won't look like your typical math equation, You'll need to determine how much benefits like
brand reputation. social status, and service convenience are worth compared to costs like time
investment, emotional stress, and physical commitment

Additionally, customer value is going to vary depending on the segment of customers- you re analyzing.
Since each person is different and has s pecifie needs, goals, and expectations, you might find the
definition of "good value" is inconsistent If you do, try segmenting your customer base into different
buyer personas. then calculate customer value forleach group.

Now that we're familiar with customer value and how to calculate, let's look at some ways you can
generate it through customer service.

Tips for Increasing Customer Valuc

1. Evaluate your customer experience. When increasing customer value, the best place to starl is by
analyzing your customer experience, Create a customer journey map that outlines cach step your
customers take when buying something from your business and look for interactions that might cause
friction within

the expenence. Once you can visualize every action your customers are taking, it's easier to identify
opportunities to add value.

2. Facus on more than price. For some businesses, it's tough to compete through price alone.
Sometimes tlie cost to make a product is static, and there's not much room for a business to lower their
price tag

But, that doesn't mean you can't create a competitive offer in your industry

This is where you should look for alternative ways to add value to your customer experience Keep in
mind that customer needs range from convenience to pertormance and there are plenty of non-
monetary benefits that can convince people to buy your product.

3. Collect customer data. It's hard to make effective changes if you're only looking at customer value
from the business perspective. Instead, you should be centering your focus on the customer's perceived
value of your product or service.

To do that, you'1l need access to quantitative and qualitative customer data. With it. management
teams will have facts and statistics that justi fy their proposed changes. Leadership can make decisions
confidently knowing their perception of customer value aligns with your customer base.
Additionally, it's important to colleet boih quantitative and qualitativye data as this will give you a
diverse data set that ineludes insightful statistics and captures the voice of the customer

4. Target your most loyal customers You might think that because a customer is loynl, they're alrondy
receiving value from your business, And, you'd be right,

However, just because someone is loyal to your business, that doesn't mean you cant or shouldn't -
outsize their customer value. Encompassing additional benefits through customer loyalty programs can
generate even more value for these customers.

While this approach not only retains your most valuable audienee, it acquires new customers as well.
For example, you can leverage benefits in exchange for customer advocacy. Have customers submit
feedback or write a testimonial that shares their positive experience with potential leads. Since 93% of
consumers use revicws when making buying decisions, this will add another benefit to your customer
value equation.

5. Segment your customer base. As we mentioned earlier, customer yalue can vary denending on Iho
you'ro surveying and customer's needs and goals influences their definition of "valuc. Since not all
customers are alike, this creates discrepancies when measuring value at your business.

That's why it's important to segment Nour customer hasc linte specific target audicnces. Start with your
buyer personas and usC customer data to idcntity Hpeciflc purchasing bchaviors. Once your groups are
established, you can measure customer value for cach

CHAPTER 4: THE PHASE PROCESS

LESSON 1: PHASE_1 VISIONING

A. Who's going to lead the initiative? It's critical to identify a *"customer insights champion" to drive the
process of generating insights from analyties. This person acts as your team lead and manages the
process.

THE TEAM LEAD/CUSTOMER INSIGHTS CHAMPION • Champions the process internally. ensuring that
the right resources are allocated to the project and that outputs and deliverables are used across the
organization

• Ideally is curious about customers, able to identify interesting questions and creatively identify the
best available data to answer them, and can manage various teams in different areas of the organization.

MAJOR RESPONSIBILITIES With the support of business leadership, responsibilities include: • Identifying
key questions related to customers and use cases for insights

• Identifying potential project resourees, including people who work with data and neeessary analytical
resources (may be internal or external analyties people)
 • Ensuring that data and analytical resources effectively communieate and the project is a priority for all
involved

• Consistently providing leadership with feedback on progress and outcomes

Ensuring that insights generated are shared with relevant people across the organization and actioned to
improve how customers are served

• Monitoring initiatives and making adjustments as required

B . What do we want to know about our customers? It's useful to think about what you actually want to
know about your customers up front, how this fit with your business strategy, and how data can drive
the process It's likely that conversations about customer centricity and how data can support it have
happened throughout your organization. However, it's beneficial to $et up an initial workshop with key
stakeholders and resources to discuss business challenges2 and which questions about customers you d
like to answer

BESIDE the te AM Lead. who ShoULd BE INVOL VED? During the visioning phase. it's beneficial to involve
people from different areas of your organization. They may or may not be a part of the process, however,
it`s useful to involve at least one person from the following areas:

BUSINESS LEADERSHIP • Drives the process and ensures that generating customer insights from data is
seen as an organizational priority

• Ensures that insights are shared with relevant people across the organization and actioned to improve
how customers are served.

DATA TEAM • Has the technical knowledge and skills required to minage multiple data sources and
extract the necessary data for analysis, Has the best understanding of which data is available its quality
and how easy 1 is to necess

‣ May consist of one or more of the following: 1T people, database administrators, data analysts,
developer

ANALYTICS TEAM • Helps shape which customer insights are generated.

• While business leadership has a vision of what they want to know about customers, the analytics team
assesses what's possible given available data, runs the actual analysis, interprets results, and
communicates them baek to the organization

Key Considerations for Your Visioning Workshop A clear vision of the desired business impaict will help
shape the process going forward in terms sourcing data, running the actual analysis, and framing how
insights are communicated back to your organization.

CONSIDER INSIGHTS AND MEtRIcs S WELL As POTENTIAL OUTPUTS

Having an idea of what you want to know about your customers and what potential outputs may look
like helps shape your analysis and ensures its usefulness

• The possibilities are endless. Analytics aid operational interventions, such as simple customer
reporting that empowers front-line staff and managers to better serve customers More strategic
interventions identify potentially profitable customers and how to better serve them. i.e., finding
emerging trends within your customer base

REMAIN OPEN TO NEW AVENUES OF EXPLORATION • While a clear objective is important, engagement
with data almost certainly leads to new questions, unexpected insights, and new avenues of exploration

• Analytics is an iterative process and you may need to adjust the vision over time

INITIATE A DISCUSSION ABoUT DATA • Start by reviewing which data is currently available and where
gaps exist

• Include internal data as well as qualitative data (i.c., dliscussions with customers) that you may have
access to. If qualitative data is available, review it first since it may highlight key focus areas for customer
analytics

START SMALL • Simple customer metrics and analytics, such as aggregating and summarizing customer
data. can have a strong business impact and spark new, more complex questions. There`s a much higher
chance of suceess if you start with manngeable tasks

• Basic analysis also helps you explore existing data. In some eases, management may believe that data
is better, or more accessible, than it actunlly is

STAY FOCUSED ON CUSTOMERS It's easy to get sidetracked and shin your focus from customer centric to
product-contric analyties.

Be sure to stay focused on customers

LESSON 2: PHASE_2; ASSESS ROSSIBILITIES

Do we have a single customer view?

Having a single customer view (SCV) is imperative in helping you fully understand your customers.

WHAT'S A SINGLE CUSTOMER VIEW? Organizations often only have a fragmented view of their
customers. For example, customer application data and transactional behavioral data may be looked at-
independently, but the same customer may not be identifiable in both data sets. Likewise, an
organization may not be able to identify customers who use multiple products or several versions of the
same product

• A single customer view links various data sources via a unique identifier that matches and brings
together all data on an individual customer. This single view creates a holistic picture of every interaction
with that customer and the services they use.
wHY is a singLe customer view iMPorTant? ‣ It allows your organization to understand how customers
behave across multiple touchpoints and understand their cross-product holdings

• It allows you to understand a customer's history, lifetime value, risk, potential exposure to debt.
propensity to buy new goods and services, and the number of products they hold.

Hox_to_Achiexe a Single_ Customer View?

crEATING A SINGLE CUSTOMER ViEw • Requires a customer's produet relationships to be brought

together

• Can be done by matching unigue identifiers, which may be a national ID number (here available)

• If a national ID is not available, other identifiers need to be lused such as matching name, address, and
date of birth

• Once individual customers have been identificd a unique customer identiffer (often described as a
customer PIN) should be applied

• The identifier is then appended to every item of data relating to that customer, allowing all data on an
individual customer to be matched and brought together to create a single view or record of that
customer

• All future data linked to that customer must include their unique identifier (ie. when the customer
purchases a new product or service)

POTENTIAL BARrIErS to crEAtiNG: A SiNgLE CUSTOMER VIEW • The major obstacle is customer data
that's stored on different systems in inconsistent formats

• This is a greater problem for large. more complex organizations such as banks with various product
streams, or organizations that have undergone mergers and acquisitions which may have multiple brands
under a group umbrella

• Product-centric organizations will also find this more challenging, as adopting a single customer view
requires a customer-centric approach lo customer management. For example. banks where home loans
are kept separate from retail banking, etc.

• Smaller or newer organizations with newer technology and fewer product relationships find it easier
to implement a single customer yiew.

Benefits of a Single Customer View

CUSTOMER BENEFITS • Fnhanced customer service levels: customers expect providers to have a
complete view of their relationships and a single customer viet makes it a reality

• Reduetion in duplicate communications

‣ Competitively priced produets based on the overall eustomer relationship, e.g. customers with
significant savings may be offered discounted personul loa rates

• Data changes are simplified, for example, a chinge of address notilication only requires a single phone
call

Cross-sell and up-sell marketing offers are based on the whole customer relationship and are more
relevant

BUSINESS BENEFITS Customer service agents see a customer S complete product holdings and history at
• glance, which enables them to quickly assess the relationship and take appropriate action

• Operational cost savings as a result of reductions in customer call times and cost per serve

• More accurately targeted marketing offers and incentives

• Better customer understanding drives more effeetive produet development and ensures that the right
produet propositions are delivered to the right customers at the right time

Valuable customer insights allow more effective customer-level marketing and improve relationships.
cross-sell activities, product penetration, and retention

ReplyForward

Add reaction