Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Great Customer Experiences Start with Great Customer Data

6,588 views

Published on

By 2020, customer experience will overtake price and product as the key brand differentiator. We’ve outlined the cost of not focusing on customer experience, why it’s hard to do right, and how to future proof your customer centric strategies with great customer data that fuels great customer experiences. When you have a next-generation customer 360 view across marketing, sales and customer service, your employees can deliver the seamless, consistent and integrated experiences that your customers expect.

Published in: Technology

Great Customer Experiences Start with Great Customer Data

  1. 1. Great Customer Experiences Start with Great Customer Data By 2020, customer experience will overtake price & product as the key brand differentiator 1 What’s the cost of not competing on experience? U.S. businesses lose an estimated $83 billion in sales annually due to poor customer experiences.2 Customers want a consistent customer experience from your marketing, sales, and customer service teams. But many businesses have difficulty delivering this because of fragmented and inconsistent customer information across systems. Without a robust enterprise data ‘value chain’, 80% of your customer data will be wasted. 8 Our average customers struggled with: How to future-proof your customer centric strategies & strategically manage your trusted customer profiles Are you customer ready? It’s time to rethink how you manage, validate, and share your customer data Our average customers achieve these results: Your ability to deliver great customer experiences is limited when your customer data is fragmented, inconsistent and disconnected. To deliver great customer experiences, you need to fuel marketing, sales and customer service applications and analytics with a Next-Gen Customer360 View that’s based on clean and connected customer data from across the business. 360º Some of the information represented here are examples of what we at Informatica have seen in our projects with companies that are implementing a Total Customer Relationship solution. 1 By 2020, customer experience will overtake price and product as the key brand differentiator.  http://www.walkerinfo.com/customers2020/ 2 US Businesses lose an estimated $83 Billion in sales annually due to poor customer experiences. http://www.customerexperienceboard.org/resources/facts 3 Ninety-one (91%) of dissatisfied customers will not do business with a brand that failed to meet their expectations. http://customerthink.com/10-need-to-know-customer-dissatisfaction-stats/ 4 On average, loyal customers are worth around 10x the value of their first order. http://customerthink.com/a_ton_of_scary_custexp_quotes_and_stats/ 5 Marketing departments in large companies use an average of 65 different applications. http://www.forbes.com/sites/benkepes/2014/07/31/latest-enterprise-application-use-survey- results-more-use-more-risk/ 6 50% of sales development organizations leverage 5 or more technology applications. http://blog.topohq.com/11-sales-development-strategies-for-high-growth-companies/#sthash.u OMb0HOp.dpuf 7 86% of call center agents access >3 applications to help a customer. http://www.callcentrehelper.com/poll-how-many-applications-do-your-agents-need-to-help-a- customer-38310.htm 8 80% of customer data will be wasted due to immature enterprise data "value chains." http://www.customerexperienceboard.org/resources/facts Ninety-one (91%) of dissatisfied customers will not do business with a brand that failed to meet their expectation.3 On average, loyal customers are worth around 10x the value of their first order.4 siloed customer information systems of contacts with wrong postal address ($50M dollars in wasted mail costs) duplicate customer records of accounts inactive a week per employee to mitigate data issues 20-30 40% 40-50% 40% 12 hours i 10x Marketing departments in large companies use an average of 65 different applications.5 apps in marketing 65 50% of sales development organizations leverage 5+ technology applications.6 apps in sales 5 86% of call center agents access >3 applications to help a customer.7 apps in customer service 3 1 2 3 4 5 6 7 Locate the systems across your business that have critical customer data Correct inaccuracies, fix incomplete fields and standardize your data Identify duplicates and consolidate into a single, trusted customer profile Validate customer contact data so you can reach your customers Enrich profiles with 3rd party demographic, firmographic, social and market data Discover relationships between your customers and the people, places and things that matter most Deliver trusted and relevant information to the people, processes and applications that need it Great data Great customer experience 91% increased spend from loyalty members boost in marketing campaign effectiveness improved lead to opportunity conversion rates improved in cross-sell and up-sell success

×