Imagine this: You have customers in your CRM, your customer service platform, and your marketing platform.
Now think of what would happen if X person had just complained about the widget they bought at full price, and you send them an email promoting widgets on sale.
This is where 'single customer view' comes into play. Chances are, you've heard this phrase before and wondered what it is.
If you search it on Google and read the generic definitions, you might end up with more questions than answers.
But not anymore - in this article, we're going to keep it short and simple.
So without further ado, let's begin.
What is a single customer view?
A single customer view (SCV) is a collection of all the data a company has about its customers that can be viewed in a single place.
Whether it's the customer's age, gender, location, contact details, lifecycle stage, or any other relevant information, you can see it all in one view.
Having all the data about your customers right in front of you makes things a heck of a lot easier as compared to having your data scattered around multiple platforms.
Why your business needs a single customer view?
1. Precise targeting
When it comes to marketing communications, if you talk to everyone, no one wants to listen. That's when targeting comes into play. According to research, emails that are targeted generate 58% more revenue. Having all the data in one place helps you categorise your customers better, which helps you create laser-targeted marketing messages. You can nail your content marketing and paid ads if you get your targeting right.
2. Better customer profiles
Steve Jobs once said, “Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.”
Single customer view helps you create better customer profiles (buyer personas), which consequently helps you understand your customers' needs better and generate more revenue.
According to research, using buyer persona increases email open rate by 2-5 times and the click-through rate (CTR) by 14%. In fact, 93% of the companies that segment their database by persona exceed lead and revenue goals.
The stats speak for themselves - if you understand your customers' problems better than them, they're going to assume that you have the solution and eventually gravitate towards you.
3. Saves time
Analysing customer data can be a daunting task, especially if you use spreadsheets. The word 'spreadsheet' itself can induce stress and anxiety in marketers. And don't even get us started on duplicate data - grrrr!
However, data is one of the most important assets you have - all the way from creating marketing strategy to reporting its performance and making recommendations for future marketing decisions. If data is scattered in different places, things can be time-consuming, not to mention stressful.
So what's the solution? Simply have all the data under one roof using a single customer view and save your time.
4. Easy communication with customers
It's highly likely that your customers, who have paid you, might contact you at some point. When this happens, you need to have all their information at your fingertips.
You need to know who your customer is, what products/services they have purchased from you, and any other important information that can help you facilitate the conversation.
Don't make the customer re-iterate their entire story, be one step ahead of them and offer a speedy response.
5. Make the most out of data
Data is only useful if it's in front of you and not hiding somewhere on your cloud app or hard drive - whatever you're into. You can't use it if you don't know where it is.
Putting all the data into one place enables you to make well-informed and smarter decisions.
With a single customer view, you can closely examine every piece of information with just one click.
Merging all of your customer's data into one place is easier said than done. If you feel stuck and need any help, feel free to book a time with our expert, Nick O'Neill, today.