Tag Archives: 360 degree customer view

Inside Dreamforce ’13: Why sales may be building 360-degree customer views outside Salesforce

I had a disturbing conversation at Dreamforce. Long story short, thousands of highly skilled and highly paid financial advisors (read sales reps) at a large financial services company are spending most of their day pulling together information about their clients in a spreadsheet, leaving only a few hours to engage with clients and generate revenue.

Not all valuable customer information is in Salesforce

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Are you in sales? Your time is too valuable to squander on jobs technology can do. Stop building 360-degree customer views in spreadsheets. Get it delivered in Salesforce.

Why? They don’t have a 360-degree customer view within Salesforce.

Why not? Not all client information that’s valuable to the financial advisors is in Salesforce.  Important client information is in other applications too, such as:

  • Marketing automation application
  • Customer support application
  • Account management applications
  • Finance applications
  • Business intelligence applications

Are you in sales? Do you work for a company that has multiple products or lines of business? Then you can probably relate. In my 15 years of experience working with sales, I’ve found this to be a harsh reality. You have to manually pull together customer information, which is a time-consuming process that doesn’t boost job satisfaction.

Stop building 360-degree customer views in spreadsheets 

So what can you do about it? Stop building 360-degree customer views in spreadsheets. There is a better way and your sales operations leader can help.

One of my favorite customer success stories is about one of the world’s leading wealth management companies, with 16,000 financial advisors globally.  Like most companies, their goal is to increase revenue by understanding their customers’ needs and making relevant cross-sell and up-sell offers.

But, the financial advisors needed an up-to-date view of the “total customer relationship” with the bank before they talked to their high net-worth clients. They wanted to appear knowledgeable and offer a product the client might actually want.

Can you guess what was holding them back? The bank operated in an account-centric world. Each line of business had its own account management application. To get a 360-degree customer view, the financial advisors spent 70% of their time pulling important client information from different applications into spreadsheets. Sound familiar?

Once the head of sales realized this, he decided to invest in information management technology that provides clean, consistent and connected customer information and delivers a 360-degree customer view within Salesforce.

The result? They’ve had a $50 million dollar impact annually and a 30% increase in productivity. In fact, word spread to other banks and the 360-degree customer view in Salesforce became an incentive to attract top talent in the industry.

Ask sales operations to give you 360-degree customer views within Salesforce

I urge you to take action. In particular, talk to your sales operations leader if he or she is at all interested in improving performance and productivity, acquiring and retaining top sales talent, and cutting costs.

Want to see how you can get 360-degree customer views in Salesforce? Check out this demo: Enrich Customer Data in Your CRM Application with MDM. Then schedule a meeting with your sales operations leader.

Have a similar experience to share? Please share it in the comments below.

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Posted in Customer Acquisition & Retention, Customers, Data Integration, Data Quality, Financial Services, Master Data Management, Operational Efficiency, Uncategorized | Tagged , , , , | Leave a comment

Logitech MDM Case Study: Live Questions, Answers and Attendee Poll Results (Part II of II)

Last week, I posted this blog:  Logitech MDM Case Study: Seven Lessons for Mastering Product and Customer Data (Part I of II) which shares highlights from recent webinar. Logitech’s Severin Stoll, Senior Business Engagement Manager of Global IT Solutions spoke with David Decloux, MDM technical lead in EMEA about Logitech’s Global MDM implementation, in which they are mastering product, customer and consumer data.

Logitech’s Severin Stoll and Informatica's David Decloux answer questions from webinar attendees about building an MDM business case, implementation time, data governance, and real-time MDM.

In this blog, I’ll share some of the highlights of the Q&A I led and results from two polls. (more…)

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Posted in Customers, Data Governance, Manufacturing, Master Data Management, Retail | Tagged , , , , , , , , , , , , , , , , , , , , | Leave a comment

Logitech MDM Case Study: 7 Lessons for Mastering Product and Customer Data (Part I of II)

Severin Stoll played a critical role selling MDM within the business organization as a solution to their business challenges. Currently he’s in IT, responsible for the overall MDM program.

Severin Stoll played a critical role selling MDM within the business organization as a solution to their business challenges. Currently he’s in IT, responsible for the overall MDM program.

Logitech’s Severin Stoll, Senior Business Engagement Manager of Global IT Solutions participated in a webinar with David Decloux, MDM technical lead in EMEA about Logitech’s Global MDM Implementation.

Severin shared the business challenges that led the global electronics company to pursue an MDM program, their business requirements, and the seven lessons for mastering product and customer data. Their next step is mastering consumer data.

In the next two blogs I’ll share some of the highlights from the discussion, the Q&A session and the poll results from this popular webinar which attracted more than 800 registrants. (more…)

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Posted in Customers, Manufacturing, Master Data Management, Retail | Tagged , , , , , , , , , , , , , , , , , | Leave a comment

Retail Case Study: Printemps Department Store Builds a Trusted Customer Data Foundation with MDM and Data Quality

If you have never traveled to France, you have missed the unique and exciting shopping experience offered at Printemps, a luxury fashion retailer. Its flagship store in Paris drives 60% of the company’s revenue. More than 1.5 million customers who love fashion visit this store as well as the retailer’s 15 other high-end stores around the country.

Printemps Haussmann, flagship department store in Paris, France.

Printemps’ goal is to cultivate long-term personal relationships with their high value customers by delivering exceptional services. Their strategy to accomplish this goal is to continuously meet their high value customers’ needs and expectations and create compelling incentives for customers to visit their stores.

Printemps’ marketing team is continually striving to be more customer-centric and improve campaign effectiveness. They are using customer analytics to segment their customers and better understand their preferences. For example:

  • Which customers prefer fashion, beauty or accessories?
  • Which customers prefer communications through the mail, email, mobile phone, social media channels?

Printemps has plenty of information about their 1.5 million customers. So what
was standing in their way? They lacked a 360-degree view of their high value
customers. The key culprit was duplicate customer information across multiple
systems.

I had the honor of introducing Olivier de Compiègne, who is responsible for Project Services and Customer Relationships at Printemps at Informatica World. Olivier’s main message: if your goal is to attract high value customers and boost customer loyalty, first you must invest in a solid customer data foundation.

To build their solid customer data foundation, Printemps’ team is leveraging Informatica Data Quality to ensure their customer information is as accurate and complete as possible across all key sources. They are using Informatica MDM, master data management (MDM) technology to rationalize customer information from numerous data sources to create a single customer view as well as a 360-degree customer view, which includes each customer’s purchase history.

Printemps’ solid customer data foundation is maintained on an ongoing basis, which allows Printemps’ marketing team to have confidence in the data they use for customer analytics and campaign management. Now they can truly support personalized relationships with customers and optimize their marketing by sending tailored messages to targeted customer segments.

If you are trying to cultivate long-term personal relationships with your customers and lack a 360 degree customer view, I hope Olivier’s story was helpful.  Do you have similiar goals? Please share your thoughts. I’m interested in hearing from you.

If you want to learn more about how Printemps’ is using Informatica Data Quality and Informatica MDM, please:

 

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Posted in Customer Acquisition & Retention, Data Quality, Master Data Management, Retail | Tagged , , , , , , , , , , , , , , , | Leave a comment