Brands Embrace Holistic Data to Improve CX

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Flawless experiences, complete personalization, and timely communication across multiple channels. Consumer expectations have never been higher. With the line between success and failure now razor thin, more brands are asking how they can use data to provide customized experiences that cater to each buyer’s wants and needs.

The answer, says Mindbreeze Chief Executive Officer Daniel Fallmann, involves taking a holistic approach.

Having a complete view of a customer, and considering every interaction and experience the customer has previously had with the organization, is now the gold standard for brand marketers seeking to cultivate relationships and build long-term loyalty.

“Because technology has enabled organizations to develop more personalized experiences for their customers and potential buyers, [personalization] certainly is something today’s consumers have come to expect,” Fallmann says. “Previously, organizations would take a one-size-fits-all approach and it worked out OK for a while. However, they were only securing business with a portion of potential customers and missing out on a number of opportunities.”

In Fallmann’s view, logging every touchpoint is the only way for organizations to maintain a 360-degree holistic view of each customer. In a holistic approach, email communication, account histories, and customer service logs are all tracked and brought together in a unified system that’s accessible throughout an organization.

Taking a holistic approach to data also means considering the entire data lifecycle — from collecting and integrating data, to organizing and maintaining it — and then creating standards to fit each organization’s unique needs.

Artificial intelligence and other cloud-based tools can make this process easier, but finding the right solutions is challenging when customer expectations are always changing. Fallmann suggests organizations invest in tools and technologies that help them predict and monitor shifts in customer expectations by looking at patterns associated with certain customers and those who are similar to them.

“AI helps businesses anticipate customer needs in real-time and helps pave the way to improve CX. The ability to anticipate these shifts means that sales and marketing teams have time to produce solutions to attract and retain buyers,” Fallmann says. “Further, based on holistic data, organizations can leverage AI to take it a step further and proactively offer up personalized communication for better business impact. The intelligence of knowing what’s coming is invaluable in monitoring and meeting changing customer expectations.”

Setting Expectations, Reaching Goals

Fallmann sees personalization as the ultimate goal of a holistic approach to data management in 2022. When multiple companies offer similar goods and services at similar price points, it’s the personalized customer journey that helps brands stand apart.

According to a new report by Cordial, a cross-channel marketing firm, 70% of consumers say they would be willing to share more information with brands if they knew they would use it to improve their shopping experience. More than half of millennials (54%) say personalized offers and incentives keep them happy.

Fallmann gives Apple and Amazon credit for doing exemplary jobs in using existing data to customize customer interactions. Amazon’s site navigation and personalized recommendations are the foundation of the company’s success when it comes to the customer journey. Apple, meanwhile, has shown the world on a very large scale what innovative approaches to CX can look like. In many ways, the company has set the standard for other companies to reach.

“The wide range of communication channels used today makes it increasingly difficult to keep an overview of each customer and consistently deliver the best possible service and support,” Fallmann says. “By providing every employee with a 360-degree view of all relevant data and intelligence, information-driven systems can drive the complete CX into existence by simply connecting every dot of data and putting it right at the fingertips of employees, from sales and marketing teams to support teams and developers.”

Stephanie Miles is a senior editor at Street Fight.

Stephanie Miles is a journalist who covers personal finance, technology, and real estate. As Street Fight’s senior editor, she is particularly interested in how local merchants and national brands are utilizing hyperlocal technology to reach consumers. She has written for FHM, the Daily News, Working World, Gawker, Cityfile, and Recessionwire.
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