Customer 360
A single view of your customer interactions
In today’s highly competitive business landscape, understanding your customers and their needs is paramount to success.
UNDERSTANDING CUSTOMER 360
Customer 360 is a strategy that involves collecting, integrating, and analysing customer data from various sources to create a unified and comprehensive view of each customer.
This strategy is crucial in today’s competitive business landscape, as it allows for enhanced customer engagement by providing personalised and meaningful experiences. It also enables data-driven decision-making, which is essential for CFOs and other executives to make informed financial decisions. This, in turn, drives growth and profitability by allowing sales, marketing, and customer service teams to engage customers more effectively using the holistic information provided by Customer 360.
We can offer a FREE ONE-TO-ONE session dedicated to help you develop your personalised Customer 360 strategy, with TEKenable and Microsoft.
THE CHALLENGES
Implementing a Customer 360 strategy presents several challenges, as highlighted by TEKenable’s research and whitepaper.
Key challenges include:
Data Fragmentation and Silos
This challenge arises when customer data is scattered across different systems and departments within an organisation, making it difficult to get a unified view of the customer. Siloed data can lead to inconsistent customer experiences and hinder the organisation’s ability to make informed decisions.
Data Compliance and Security
With the increasing amount of customer data being collected, ensuring compliance with data protection regulations and maintaining the security of this data is paramount.
Lack of Single Customer View
Without a single view of the customer, organisations struggle to understand the complete journey and experiences of their customers. This can lead to missed opportunities for personalisation and engagement, therefore impacting profitability.
Inability to Make Data-Driven Decisions
When data is not centralised or of poor quality, it becomes challenging to derive insights that can guide business decisions.
Understanding Customer Preferences
Understanding customer preferences requires analysing data from various touchpoints and interactions. However, when data is fragmented or not effectively utilised, gaining insights into customer preferences becomes a challenge.
BENEFITS FOR YOUR BUSINESS
HOW CUSTOMER 360 TRANSFORMS YOUR BUSINESS
Customer 360 can transform your business in several impactful ways.
Here are 5 ways as highlighted by TEKenable’s insights and whitepapers:
Enhanced Customer Engagement
By providing a unified view of the customer, businesses can tailor their interactions to offer personalised and meaningful experiences. This leads to improved customer satisfaction and loyalty.
Data-Driven Decision Making
This challenge arises when customer data is scattered across different systems and departments within an organisation, making it difficult to get a unified view of the customer. Siloed data can lead to inconsistent customer experiences and hinder the organisation’s ability to make informed decisions.
Increased Revenue and Profits
A deep understanding of customer data helps businesses make better decisions that can increase revenue and profits. It also supports innovation and optimisation, including digital transformation strategies.
Improved Process Efficiency
Customer 360 aids in breaking down silos between departments, leading to more efficient processes and better utilisation of resources across the organisation.
Competitive Advantage
With Customer 360, businesses can stay ahead of the competition by quickly adapting to market changes and customer needs, thanks to the actionable insights derived from a comprehensive view of their customers.
HOW TO IMPLEMENT CUSTOMER 360
Implementing Customer 360 with TEKenable involves a strategic approach to gaining a comprehensive understanding of each customer through data-driven strategies.
We outline a three-step process:
1. Understanding the business context and approach
2. Transforming legacy systems into modern cloud-based solutions
3. Optimising business processes to enhance growth capabilities
This approach is designed to make better use of data, which is essential in today’s multi-channel customer interaction environment.
Microsoft Dynamics 365 offers a robust set of tools to implement the Customer 360 concept effectively:
Dynamics 365 Sales is a customer relationship management (CRM) software application that helps businesses manage their sales process from lead to cash.
It offers a variety of features, including:
- Lead management
- Opportunity management
- Account and contact management
- Activity management
- Forecasting
- Reporting and analytics
Customer Engagement is a suite of cloud-based applications that help businesses manage their customer relationships.
Some of the benefits of using include:
- Improved customer service
- Increased sales
- Improved marketing effectiveness
- Reduced costs
- Improved collaboration
Customer Insights is a customer data platform and journey orchestration solution that helps organisations deliver personalised customer experiences. It combines data from multiple sources, including CRM, marketing automation, and customer support systems, to create a unified customer view.
Customer Insights also uses AI to generate insights, segment audiences, and create personalized customer journeys.
It can be used by sales, marketing, and service teams to:
- Uncover new insights about customers
- Segment audiences
- Create personalised customer journeys
Customer Voice is a cloud-based enterprise feedback management application that helps businesses collect, analyse, and act on customer feedback. It is built on Microsoft Forms and offers a number of additional features, such as:
- Advanced branding
- AI-powered analysis
- Data integration
Business Central is an ERP solution designed for small and medium-sized businesses. It used to help organisations manage their financials, supply chain, sales, and customer service operations.
Business Central provides a unified platform for managing various aspects of a business, including:
- Financial Management
- Supply Chain Management
- Sales and Service Management
- Project Management
- Human Resources Management
- Reporting and Analytics
By unifying customer data, businesses can enhance customer experiences, improve decision-making, and drive revenue growth. In an era where data is king, this integrated approach can be a game-changer for businesses looking to stay competitive and thrive in an ever-evolving marketplace.
Customer 360 is not just a solution; it’s a strategic asset that can revolutionise the way you do business. Whether you’re a finance person focused on revenue growth, a CIO aiming for data-driven insights, a salesperson looking to boost conversions, a marketing manager wanting to create engaging campaigns, or a customer service representative striving for top-notch service.
Customer 360 is designed for you!
