In today’s content and product-saturated marketplace, customer centricity and personalisation is the key to standing apart from the competition. By 2020, customer experience is expected to overtake price and product as the key brand differentiator.
While a highly relevant customer experience is essential, simply implementing a personalised marketing strategy is no longer enough – it is necessary that organisations structure themselves around the customer across all lines of business, aka, customer centricity. They must stop looking at customers from siloed marketing, sales, and service perspectives and leverage a 360-degree view of the customer that accounts for every interaction they have with the brand.
Beyond the traditional CRM platform
Over 60 percent of companies still struggle to personalise content in real time.
Creating highly personal experiences across all channels and touch points – like email, social media, purchases, or contact centres – is extremely difficult when customer data is fragmented in multiple independent applications and departments. Over 60 percent of companies still struggle to personalise content in real time, even though 78 percent of customers will only respond to offers or content if it has been personalised to their previous engagements.
Personalisation across all lines of business
McKinsey reports that implementing an organisation-wide personal engagement strategy at scale can drive between 5 and 15 percent revenue growth for companies, particularly for those in the retail, travel, entertainment, telecom, and financial services sectors.
It all starts with knowing the customer – by leveraging aggregate data to better understand each individual customer’s preferences, purchasing tendencies, and context on a deeper level, organisations can avoid frustrating customers with irrelevant content while increasing the likelihood of conversion.
Providing a single source of truth that surfaces a 360-degree view of customers, Dynamics 365 Customer Insights helps organisations to determine the best action possible for each individual customer in any context or stage of the journey – whether acquisition, conversion, or retention.
In a world where companies have only a few minutes to make a lasting impression, organisations need to do more than simply compile customer data – they need to be customer centric. They need to derive actionable insights and get those insights into the hands of every employee who interacts with customers. Marketing, sales, and service professionals need first-hand access to holistic customer information, enabling seamless and intelligent customer experiences no matter which department they’re interacting with.
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