Want to Create an Exceptional Customer Experience?
A Single Customer View offers rich data, accurate profiling, and a central source of truth
When it comes to data, more isn’t always better. It can be difficult to pull out useful insights if you have a huge volume of information flowing in from multiple platforms. That’s where a Single Customer View (SCV) comes in. An SCV consolidates customer data from various sources, filters out the noise, and gives you a clear picture of your customer base.
This solution can help you overcome the challenges of complex data management and identify gaps in your marketing processes. The result is a deeper understanding of your audience and a central source of customer truth, which helps simplify targeting and customer engagement and improve campaign delivery.
Unlocking the value in your customer data
You have customer data – but is it presented in a format you can use? Is it reliable and accurate? Do double-ups and missing pieces make it difficult to target your marketing campaigns? By collecting, consolidating, cleansing, and analysing information from several sources, an SCV essentially curates your data for you, pulling out those valuable insights and making them accessible. It’s a transformative tool for businesses struggling to extract value from their data and finding an inability to get coherent reporting on their data.
When you have access to the right data in the right format, it’s much easier to take advantage of that value. Your SCV can help you focus your marketing more accurately by ensuring you’re targeting the right people, offering ultra-personalised services and content in your campaigns, and increasing customer loyalty.
Customer Data Platform integration
At Datamine, we often build SCVs as part of a Customer Data Platform (CDP). A CDP is a data aggregation tool that draws in data from different sources, including your CRM, browsing tracker, sales system, data warehouse, and marketing automation platform. A CDP translates your data into a usable format and feeds it into your marketing automation software, filtering out the junk and extracting valuable insights. From there, your automation platform can use the data to send personalised emails, place targeted ads, and automate other marketing campaign elements.
While a CDP links datasets and automation tools, the SCV is a more focused view of your customer base. It takes data from all touchpoints and combines it to create a single source of truth for each customer.
Creating your Single Customer View
Building an SCV is a complex task that involves integrating different datasets and applying analytics to deliver insights.
Here’s the simplified process:
1. Collect and consolidate
This stage pulls customer data from all your platforms and work tools that contain information about customers into a usable format, which could include your CRM platform, browsing tracker, sales system, data warehouse, automation platform, and CDP.
2. Cleanse and enrich
This involves deduping customer profiles and archiving or eliminating defunct or out-of-date data – for example, customer profiles that have been inactive for a certain number of years. Cleansing your data means you get an up-to-date and accurate view of your customer base. Profiles include all relevant details about a customer rather than a limited picture.
3. Integrate and analyse
Finally, automation tools and other marketing platforms can integrate with your customer view. These tools can help you draw insights from your newly consolidated customer data or use behaviour information to feed into your marketing campaign efforts. For example, an SCV would enable you to build behaviour-triggered automation campaigns based on customer actions.
Case Study: Major Insurer finds gold in its data silos
Concerned about its marketing efficiency, a multinational insurance company enlisted Datamine's assistance to explore data extraction possibilities from its systems. Datamine's creation of a unified datamart, providing a single customer view (SCV), had a profound impact. Unexpectedly, it unveiled uncharged premiums worth millions. This $80,000 project delivered an immediate return of $10 million, enabling the company to launch a new brand and product range while significantly enhancing targeting and messaging for its existing business, all made possible through the power of an SCV.
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A clear view of your customer
A Single Customer View isn’t necessarily a simple process – it involves a series of consolidation steps, multiple streams of data and some complex analysis. However, almost every customer-facing business can benefit from an SCV despite the underlying intricacies. It’s the best way to get a true picture of your customer and target your marketing with more precision. In a world where huge volumes of data are the standard, an SCV helps you remove the noise and obtain useful insights.
Want to know more about the value of an SCV? Talk to the Datamine team today.
The Datamine Guide to cUSTOMER SEGMENTATION
Want to learn more about how your business can benefit from customer segmentation?
This guide outlines the phases of development of customer segmentation, from planning through to implementation, along with the types of common problems that can trip you up along the way. The approach outlined in this guide can be applied across multiple industry sectors, for both product and service organisations. Segmentation is a key input to the development of business strategy and can help bring alignment across your organisation.