Achieving a holistic 360 degree view of your customer
Here is a recap of 2 recent articles discussing how businesses are using CRM analytics to get a more detailed view of their customers.
Four best practices for achieving a holistic customer view. One of the main reasons businesses implement a CRM system is to gain a complete, 360-degree view of their customers. However, large enterprises in particular often have difficulty achieving this goal. Many organizations grapple with how best to provide a holistic view of all the activities of an enterprise customer and how to implement a one-stop shop for analytics and actionable data.
A man walked into a Target store near Minneapolis demanding to speak to the manager, a jumble of coupons for baby clothes and cribs in his hands. His 16-year-old daughter had just received them, and he was fuming. But when the store manager called a few days later with an apology, the man had one too. His daughter was pregnant after all. Target knew it before he did. It’s an anecdote many have heard, after a New York Times article went viral last year, and it’s widely used in business circles to illustrate the possibilities of CRM analytics.
In the simplest terms, CRM analytics involves drilling into customer data to make smarter business decisions and to offer customers more personalized service. Target used information about customers’ past purchases — unscented lotion and vitamin supplements, for example — to identify women who were statistically likely to be pregnant, then sent them coupons for baby products.