What is a 360-Degree Customer View?
“A 360-degree customer view often called a single customer view is an aggregation of all of the data you have on an individual customer culled from the various touch-points they have with your brand and pulled together to provide a complete (or as complete as possible snapshot) of that shopper and their behaviors and preferences, including purchase history, website visits, support inquiries, channel usage, etc. The goal of the 360-degree view is to leverage this data to increase the effectiveness of marketing efforts, boost sales, and ultimately drive bottom-line revenue.”
Why Does the Evolution of the Customer Journey Demand a 360-Degree Customer View?
Today’s customer journey doesn’t resemble the linear purchase path of old. Instead, it looks more like creating a landscape of physical and digital touch-points across which your customers will roam, choosing when and where they’ll interact with your brand.
Your brand provides the map for this journey and ensures that each interaction a customer has with you is both seamless and consistent.
A 360-degree customer view is what helps you create the most accurate map possible and one that reflects the route you know you want customers to follow.
A true 360-degree customer view requires bridging functional silos such as marketing, logistics, customer service, social and eCommerce within your organization and aggregating and validating their disparate data sources.
The end result of aggregating and actioning these data insights should be a cohesive experience for your customers, wherein they can’t tell where one aspect of your organization ends and another begins, and they feel deeply known and understood by your brand.
What are the Benefits of a 360 Degree Customer View?
Data for data’s sake isn’t valuable. The advantages of a 360-degree customer view come from how you apply its intelligence and insights to drive better business decisions.
1. Improves Segmentation
Not all customers are created equal. A 360-degree customer view allows you to more effectively segment your customers according to their value and customize offers and customer care to drive increased revenue from your most profitable segments.
Whether it’s notifying them about exclusive discounts or pre-sale purchase opportunities or offering additional services such access to a virtual personal shopper, a robust, built-out customer view allows you to identify and cultivate those highest-dollar shoppers.
2. Increases Internal Efficiency
Aggregating and analyzing customer data and using it to tailor your customer engagement efforts was simpler when shoppers were only coming into your brick and mortar stores, calling you or ordering from your catalog.
Today, they’re also chatting with your brand via Google Business Messages, asking a voice assistant to initiate a return and signing up for text notifications about order status.
Despite a retailer’s best efforts and intentions, functional silos still exist within most organizations. When these silos involve customer-touching teams such as digital marketing, customer success, e-commerce and logistics, it’s the customer who suffers.
Instead of a seamless experience, the customer is bounced between systems and is forced to deal with different parts of a single organization that aren’t sharing data. Leading to an inconsistent CX, frustrating redundancy, duplication of effort and lack of globally applicable insight within the organization itself.
A 360-degree customer view solves for this, allowing all relevant players to see a full picture of customers and to shape their touchpoints based on the same consistent intelligence and data. streamlining internal operations and infrastructure, driving cross-functional planning and significantly cutting marketing and sales costs in the process.
3. Increases Customer Lifetime Value
Deeply knowing customers is integral to retaining them and increasing CLV. A 360-degree customer view gives you the predictive intelligence you need to tailor future engagements and promotions to your customers that are intended to drive long-term loyalty.
Using data from past purchases allows you to surface other product recommendations that align with an individual customer’s tastes (and may even predict them).
Providing on-demand, intelligent customer care via their channel of choice reduces the risks associated with orders and returns, which in turn leads to increased purchases.
4. Improves Customer Experience (CX)
The new standard for CX is bespoke experiences, which are driven by customer data.
A 360-degree customer view allows you to leverage the data you have about customers to personalize and contextualize their experience across channels and provide bespoke service at scale.
For example, your automated assistant is able to draw on your integrated customer view to know what a particular shopper has bought in the past and what shoppers of a similar profile have bought.
It can cross-sell, up-sell and suggest complementary products or repurchases of past orders based on the customer’s own history.
5. Delivers a Competitive Advantage
Knowledge is power. A majority of CX and marketing leaders say that they don’t have a strong grasp of their customers’ behavior across digital channels and that their brands can’t act on the customer insights they do have in real time.
Customers crave personalization and are frustrated with generic marketing appeals. Customers are willing to spend more with brands they feel “get them”, creating a huge competitive advantage for brands that invest in building a 360-degree customer view.