Today, there exist many Data-rich organizations which have spent huge investments, a significant time for building and handling CRM systems. But out of many, only very few organizations have identified their customers and grouped related info of each customer under “Single Customer View”. Besides, a considerable per cent of other companies hasn’t achieved Single Customer View due to the complexities involved in the process of handling bulks of customer data from multiple data sources.
Here, Quality of Data improves through gathering, building and maintaining integrated data on actions, devices and preferences of customers. This action eventually refines, standardizes and structures Data by mapping data from multiple records to a single person. Single Customer View helps to identify each person with relevant customer records like geographic location, nationality, gender, recent purchases, personal preferences, professional details, devices, and others. But to get a Single Customer View, every organization undergoes critical challenges.
What are the challenges involved in improving Data Quality?
Generally, Customer data gets gathered from multiple sources includes specific challenges:
- The Data errors and duplication in existing databases may reflect while unifying data of a customer in a single customer view. But after a few stages of updations, this challenge can be overcome.
- Identifying customers related with other customers, or using household info pertaining and other details may be hard initially but it’s a great source in Single Customer View.
- The activities on CRM, i.e., from Sales, to customer interactions everything needs to stay interlinked to maintain changes that are taking place within each Customer record
- Accuracy is critical in the maintenance of data.
- For getting multidimensional info through Single Customer View, it’s essential to hold info related to latest and previous product purchases, transaction history and others
Hence It’s excellent to Focus on the Quality of Data.
What are the types of Data needs to get unified for Single Customer View?
In a single customer view, the Data gets gathered from prospects and clients besides merging it into a single file. Doing so lets a marketer understand and follow every action of a user on the online ecosystem & offline through CRM data. So a Single Customer Data includes:
- Online behavioural data: Data related to
- Browsing activities
- Products viewed, user preferences, and
- Other related data on purchase patterns including ad clicks, product or page scrolls, hovers, along with time spent on a particular page, etc., gets gathered through various analytics tools of Single Customer View.
- CRM Data & offline data sources: This includes residential address, contact information, social media IDs etc.,
- Transactional Data: Date, time and place or site of product purchase for both online and offline purchases, order or subscription value, subscription expiry dates, product abandonments, product preferences etc.,
With all the unified data, Single Customer View redefines first-party data because the data is collected directly from CRM and other reliable data sources without any third-party data.
How to use unified data profiles?
These profiles used to either fulfil organizational needs or for the promotions on other marketing channels. However, there are more useful applications that are under the spotlight include:
- Conducting Cross-selling & upselling campaigns
- Reaching a user with personalized content based on the user preferences
- Target audience with Facebook ads based on user interests
- Target audience with Google ads based on the user searches
- Interact through Emails using CRM and Unified Profiles
- Exporting unified profiles to programmatic advertising platforms
- Make continuous profits by monetizing Unified profiles through Ethical Data Monetization platforms like Audienceplay Monetization
How Can Single Customer View benefit an organization?
Now, let’s know how Single Customer View benefits an organization in many ways;
In this Digital Age, Data became available abundantly. Single Customer View has crossed the limitations of joining all the online touchpoints of each person. Now it’s easier to find and reach the real person behind a screen, no matter how many devices a person switches in a day.
So, it’s time to stop relying on traditional and ineffective interaction models expecting clicks, views, conversions, ending up wasting ad spends. With Single Customer View, it is easy to do multi-device attribution and cross-channel attribution besides improving targeting accuracy by reaching a single customer on a single device instead of reaching the same person on multiple devices.
For Making Better Marketing Decisions:
With a complete overview of the customers’ preferences, online behaviours, insights; better marketing decisions get drafted based on the outlined similarity among the unified profiles that are in high demand.
This scenario leads to recognizing more loyal customers, which can be further used to plan and deliver through cross-selling and upselling approaches more easily, along with increased retention.
Due to the detailed information about the website visitors or app users; their habits, online behavioural patterns, purchase details and lifestyle preferences become more clearly understood. Plus an advertiser gets an idea where the customers’ engage more across all the online touchpoints.
This approach allows better communication at relevant online touchpoints in the buyer journey besides improving the chances for conversions. More, based on this Data, tailor the marketing and promotional materials to address the customer needs and enhance engagements.
To Multiply Profit Percentage:
In the Ethical Audience Market Places, most of the audience data buyers turn more interested in buying Unified Profiles because of the Single Customer View. More, this highly refined, quality data is considered as first-party data and using this data for their campaigns can raise their targeting accuracy without wasting ad spends.
For example, if a Marketer collected user data through a website and unified profiles of all these users. There are higher chances for this Marketer to monetize website and unlock perpetual revenues through Data Monetization. The Marketer gets revenue whenever the buyer uses Marketer’s audience data for campaigns.
What’s excellent in Single Customer View is that it focuses more on retaining existing buyers besides giving multiple chances for acquiring new ones securely.
Single Customer View laid a strong foundation for future campaigns. The unified profile targeting can improve profitability as well as customer retention.
To conclude: Now, there are multiple strong reasons for a Marketer or an advertiser to go ahead with Single Customer View. The underlying conclusion is Data becomes truly powerful and valuable when all the sources gathered together more beneficially. So try the Single Customer View Approach today!