Business leaders and marketers frequently talk about the importance of a 360-degree customer view. But what exactly does this mean?
In a practical sense, we know a 360-degree view is complete: a full circle. There are no obstructions. You have complete clarity and visibility over an entire area.
When translating this concept to business and marketing, the general idea is that a company has complete visibility of its customers. The organization has a deep understanding of their behaviors, needs, and desires. Companies with this uninhibited perspective of customers analyze every interaction they have with the brand to better appreciate their unique pain points and needs. That way, they can create engaging experiences that make customers feel like the brand is anticipating their wishes.
Of course, it’s not easy. Drilling down and understanding the multifaceted nature of today’s customers takes a concerted effort. Here’s a closer look at what it means to truly have a 360-degree customer view and how to achieve one through data-informed insights.
Why Is a 360-Degree Customer View Important?
Obtaining a complete view into customers is all about gathering as much information as possible about their behavior. This is largely why data is such a powerful commodity in today’s digital world. The more there is, the easier it is to paint an accurate picture of a person and their habits. Organizations don’t have to make assumptions on what people want.
Businesses with more data about customers and their potential journey are be better positioned to provide the products and services they expect. This allows for more empathetic business operations, which in turn help companies form stronger personal connections with customers. Those relationships result in greater trust and loyalty. That, of course, improves sales and generates more consistent revenue.
In addition, customers who feel loyalty to a brand are significantly more likely to recommend it to others.
Much of the benefit of a 360-degree customer view boils down to understanding them better simply so you know how to speak to people as individuals and address their needs. That can be anything from knowing which words to say in company messaging to what type of product or service they’re most likely to spend money on.
It’s about really getting to know your customers as people.
Types of Customer Data Contributing to a Complete 360-Degree View
A 360-degree customer view is a result of high-quality data integration. That means bringing customer data together smoothly and cohesively so that it creates a real business impact. Achieving this complete view requires businesses to understand what types of data are most important to track. Some examples are:
- Past purchases or buying habits that include product type, dollar amount, frequency, etc.
- Previous inquiries or interest about products or services
- Past communications with the brand across platforms, such as social engagement
Customer relationship management (CRM) tools make it easier for businesses to collect, store, and analyze this type of data within individual customer profiles. The more information the business collects, the better it will understand customers — and the more focused its communications can become.
It’s important to note that people are ever-changing, which means a business’ understanding of them needs to perpetually evolve as well. What’s true about customer behavior today quite likely will be different tomorrow. That’s why data collection is an ongoing process. It never ends.
Benefits of a True 360-Degree Customer View
A holistic view of customers helps businesses improve relationships, as well as the bottom line. The benefits of a 360-degree customer view are broad:
A more personalized customer experience
An Accenture study indicates a vast majority of consumers are more likely to do their shopping with brands that have recommendations tailored specifically to them. Collecting and analyzing customer data gives companies the tools they need to personalize their customers’ experience and gain their trust.
This ability to personalize the customer experience in a way that takes them on a journey to a desired outcome gives companies an edge in markets that are more crowded than ever as brands compete in the digital space for consumer loyalty. Companies that go the extra mile to tailor interactions to individual customers, or at least granular segments, will get a much better return on investment from marketing and sales efforts.
A greater ability to predict future behavior
Businesses that understand customer needs and how they think are well-positioned to predict their future behavior.
Predictive analytics are crucial for maintaining and strengthening customer relationships and sales figures. Businesses can go beyond just reacting to customer needs and can offer relevant products or services that anticipate their future needs. The more information companies gather about customers and their interactions with the brand, the more accurate predictions of future behavior become.
Faster resolutions of customer issues
When sales and customer service representatives have a customer’s entire story at their fingertips, meeting their needs becomes much easier. From the customer’s perspective, repeating their problems or requests to different representatives over and over again can quickly become frustrating.
Access to a full history of the customer’s interactions with the brand makes it much easier for the business to resolve any issues for the customer with as little friction as possible. It means faster resolutions when customers call or message. The customers feel as if the business truly understands them. The employees can do their jobs more efficiently. It’s a win-win.
Seamless experiences make customers more likely to trust a company. When the business already knows a customer’s full story, they’ll feel valued and heard — critical in developing strong relationships.
Boomi as a Solution for a 360-Degree Customer View
Through industry-leading data integration, Boomi enables businesses to gain important insights about customers. The Boomi AtomSphere Platform connects systems, processes, and devices to ensure that data can be accessed by the people who need it – when they need it. That ability to connect everyone to everything, at any time, gives Boomi customers a unique advantage over competitors when it comes to building and maintaining relationships. With Boomi, organizations can connect customer data from various business silos to develop a more holistic view of customers as they learn how best to serve them.
Ready to get actionable insights from your customer data? Get our eBook – “The Need for Speed: Accelerating the Time-to-Value of Customer Data“