Tag Archives: CRM
The terms “Single View of a Customer” (SVC) and “360-degree view of your customer” are often bandied about amongst marketers and sales people. Day-in and day-out, we collect information about our customers to use for analysis, forecasting and budget planning.
The first thing a sales person is required to do after being introduced to their territory is to find out everything there is to know about their accounts. What did their customers buy? What “pain point” did the product address? How much did the customer pay for it? Did they pay on time? Were there any issues with delivery/implementation of the product? (more…)
Last week I posted this blog, OppenheimerFunds Dreamforce Story: Lay a Foundation of Trusted and Complete Customer Information for Salesforce.
Another superb Dreamforce story was delivered by Interstate Batteries’ director of Market IQ, Mike Darr.
Did you know Interstate Batteries is the number one replacement brand battery in North America? Did you know batteries were perishable? These were some facts that I learned during Mike’s presentation at Dreamforce 2012. (more…)
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’ 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
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.
- Watch the video: Printemps’ Trusted Customer Data Foundation Powers Customer Centricity Strategy.
- Review Olivier de Compiègne’s Informatica World presentation slides about how Printemps is using Informatica to build a trusted data foundation. Go to Informatica World Breakout Sessions (Return on Data) to find his presentation as well as others including: Condé Nast, a magazine publisher that uses MDM to boost subscription revenue and customer loyalty.
- Read this Blog: New Aberdeen Survey Confirms MDM’s Value For Customer Centricity, which outlines how best-in-class companies are using MDM to achieve these results: 88% customer satisfaction vs. 32% for laggard companies, 91% customer retention vs. 62% for laggard, 6% increase in net client value vs. a 9% decline for laggards available.
- View this 5-minute video, 3 Key Steps to Attracting & Retaining Customers, which explains the three key customer views needed by sales, marketing and customer service to attract and retain customers: single customer view, 360-degree view of customer relationships and the complete view of customer interactions.
I’m sitting in the Taiwan airport on my way to Guangzhou. We just completed the Informatica World Tour in Hong Kong, Beijing and Taiwan, and I’ve had the opportunity to deliver the keynote presentation, Maximize Your Return on Big Data.
All of our audiences exceeded our expectations. We had 50% more attendees than planned. Why? Big data. It is a hot topic and everyone is trying to determine how to leverage big data in their enterprise to get a competitive advantage. At the event, I made the point – if you’re not trying to understand how to leverage big data in your enterprise, your successor will. Kitty Fok, the IDC China Country Manager, spoke after me. Her consistent comment was – “if your company isn’t looking to leverage big data, you will be out of business.” (more…)
Did you know that Forrester estimates in their 10 Cloud Predictions For 2012 blog post that on average organizations will be running more than 10 different cloud applications and that the public Software-as-a-Service (SaaS) market will hit $33 billion by the end of 2012?
However, in the same post, Forrester also acknowledged that SaaS adoption is led mainly by Customer Relationship Management (CRM), procurement, collaboration, and Human Capital Management (HCM) software and that all other software segments will “still have significantly lower SaaS adoption rates”. It’s not hard to see this in the market today, with cloud juggernaut salesforce.com leading the way in CRM, and Workday and SuccessFactors doing battle in HCM, for example. Forrester claims that amongst the lesser known software segments, Product Lifecycle Management (PLM), Business Intelligence (BI), and Supply Chain Management (SCM) will be the categories to break through as far as SaaS adoption is concerned, with approximately 25% of companies using these solutions by 2012. (more…)
As the founder of Dynamic Data Masking, I have the opportunity to meet many organizations worldwide, who are willing to openly discuss their security challenges.
These conversations have brought me to foresee the birth of yet another category in the fast growing application security market – Jurisdiction-based Access Control. (more…)
Over the last few years most enterprises have implemented several (if not more) large ERP and CRM suites. Although these applications were meant to have self-contained data models, it turns out that many enterprises still need to manage “master data” between the various applications. So the traditional IT role of hardware administration and custom programming has evolved to packaged application implementation and large scale data management. According to Wikipedia: “MDM has the objective of providing processes for collecting, aggregating, matching, consolidating, quality-assuring, persisting and distributing such data throughout an organization to ensure consistency and control in the ongoing maintenance and application use of this information.” Instead of designing large data warehouses to maintain the master data, many organizations turn to packaged Master Data Management (MDM) packages (such as Informatica MDM). With these tools at hand, IT shops can then build true Customer Master, Product Master (Product Information Management – PIM), Employee, or Supplier Master solutions. (more…)
Government organizations continue to face increasing pressure to improve customer service and operational efficiency. To date, almost every organization has embarked on some type of program ranging from 311 call centers to CRM projects in an effort to be more responsive. However, these initiatives may be only scratching the surface of what is needed to achieve real improvements across government. (more…)
I grabbed my wife’s Harvard Business Review (HBR Jan-Feb 2012) edition before a recent plane ride to a customer meeting. After diving through a bunch of case study-type narratives I ended up in a section titled “Stop Collecting Customer Data” (page 57), which was part of HBR’s “Audacious Ideas” series. This series was aimed at showcasing some proclaimed thought leaders’ very forward-thinking and, in my opinion, also some rather ill guided ideas full off naïveté. (more…)
Remember the last time you were home in the evening, there was little in your kitchen to eat but you didn’t want to go out? Then you had an idea – that you could concoct a delicious meal made from a variety of completely unrelated and forgotten frozen and semi-fresh food coupled with rarely used spices and other odd ingredients. That’s a lot like predicting the future. If you stay safe and conservative, you’re going to get close to what you expect. But, if you get all crazy (think stir fry Top Ramen and turkey jerky), your prediction will sound cool, but has a low probability of working out (unless you are on Top Chef). (more…)