Establishing a single customer view using a tool such as MasterVision is currently something of a ‘hot topic’ for many organisations. The most obvious benefits are in the area of marketing, but there are plenty of wider benefits to be gained from getting to grips with your customer data:
1. Good for Marketing: The marketing benefits of a single customer view are obvious, and increasingly are seen as a way to establish a competitive advantage and build loyalty. Analysing your customer base, segmenting it into different groups, and sending out relevant and targeted communications are all marketing fundamentals.
2. Good for Management: There are also many strong, related benefits for senior management teams. Managers need a good ‘dashboard’ of key facts and trends in order to understand and influence the business appropriately. Creating a single customer view along with appropriate tools and reports can provide exactly that.
3. Good for Sales: Any organisation with a regional structure or with a dedicated sales team needs easy access to accurate information about existing and potential customers. Joining up all of the available data into web-based system can provide quick and easy access, from any location, to contact and prospect lists for any given city or region.
4. Good for Advertisers: A single customer view provides great opportunities for additional income for any organisation which also sells advertising – whether online, in print, or in email newsletters. The ability to target accurate segments of customers is highly valued by advertisers, who will normally pay a premium to gain access to well-defined and categorised customer groups.
5. Good for Customers: Last but not least, let’s not forget the customers themselves. Communications which are relevant and targeted are much more likely to increase loyalty. What’s more, avoiding the pitfall of sending multiple messages to the same customer from different lists will further enhance the relationship.