Tag Archives: cross-sell
How Can A Single View of Your Customer Helps You Better Manage your Customer Service? (Part One)
One thing we all have in common in this modern world, is that we have all, at some point in our lives, been on the receiving end of poor customer service.
Don’t get me wrong, a career in customer service is not an easy one, and I’m sure there are many service providers out there who have been wrongly on the receiving end of an angry customer, for reasons out of the businesses hands, that’s another topic in itself. It is hard, however, to ignore that one thing companies often fail on heavily is providing a timely, easy to access and appropriate level of service for their customers. (more…)
Big Data Meets Sentiment Analysis!
So now you are interested in proposing Big Data projects, but are skeptical about getting business excited about yet another IT project? Somehow the business did not want to talk about data integration, data quality and master data management despite all the homework you did to propose a plan of action? Enter sentiment analysis. (more…)
Why CIOs Need to Take Control Of Customer Data With MDM
CIOs are no longer expected to be mere IT housekeepers who keep the lights on in the data center. More and more, they’re expected to help drive business innovation and transformation, function as strategic partners with the business and materially contribute to bottom-line performance.
One critical area in which CIOs can make a major business impact is customer data integration. As we often hear from Informatica customers, the problem of bad customer data is rarely limited to a single application or line of business. In fact, it’s a multitude of systems that has caused the problem in the first place.
Are Line Of Business (LOB) Executives Involved In MDM Or Is It Mostly An IT Initiative?
In recent conversations, I’ve been asked whether line of business executives are getting involved in master data management (MDM), or whether MDM is still mostly an IT initiative.
Attract & Retain Customers with Informatica Customer Centricity Solution (with MDM at the core)
From our experience at Informatica, the business is absolutely involved! In fact, it’s often a high-impact business event that triggers the alarm that a company needs MDM and data quality to deliver trusted and complete data. Many times, the root cause of these business problems is inconsistent, incomplete and duplicated customer data. Two examples:
1) An $8 billion technology manufacturer implemented Informatica MDM after its IT team couldn’t quickly and accurately respond to an executive’s request for a list of the company’s top 400 B2B customers. It took IT six weeks to assemble the information because it was scattered across applications, and many large customers had complex hierarchies with multiple subsidiaries that all had to be reconciled by hand. Next step, focus on the next 400 customers. (more…)
Are You Building The Right Foundation For CRM 2.0? Bridge Your Data Silos With MDM
Improving your company’s ability to attract and retain customers requires that you take your customer relationship management (CRM) system to the next level of effectiveness—regardless of whether it’s a Software-as-a-Service (SaaS) application like salesforce.com or on-premise such as Siebel CRM or a custom-built application. (more…)
MDM-Embarking on CRM 2.0? Then You Know It’s All About The Data
Arguably the top lesson of CRM 1.0 was simply this—data matters. Though CRM 1.0 promised to deliver a 360-degree customer view, untold numbers of multimillion-dollar CRM systems fell short of expectations because they failed to address the incomplete, incorrect, inconsistent and duplicate data that proliferated across the enterprise.
Acquire & Retain Customers with Trusted & Complete Customer Data
Now companies are moving to CRM 2.0, in many cases to the cloud with salesforce.com or another software as a service (SaaS) provider. And this time, determined to get the data right, many businesses are looking to master data management (MDM) and data quality to generate a true 360-degree customer view. (more…)
MDM In Action: A New Demo On Customer Account & Channel Partner Management
One of the hottest areas of master data management (MDM) is using high quality master data to drive revenue by supporting sales and channel operations. Informatica customers have racked up some terrific successes using MDM to generate a single, reliable view of customer and account information—and here’s a key reason why.
Acquire & Retain Customers with Trusted & Complete Customer Data
With Informatica MDM and Informatica Data Quality, sales and channel personnel gain hands-on control of customer data, product data and channel partner data and the relationships between this data. Those customer-facing teams no longer need to spend most of their time hunting for information in the CRM system, SFA system, billing system, partner management and other systems and reconciling it in spreadsheets. And they don’t need to wait on IT to round up and deliver the data they need right away.
If you’re wondering how this works, check out our six-minute how-to demo on MDM for customer account and channel partner management. This new demo offers a practical, step-by-step walk-through of how a sales, marketing and channel operations personnel can evolve from trying to sort through the clutter of contradictory data from multiple systems to leveraging a single, actionable customer account data set that powers a 360-degree customer view in their CRM system so they can improve customer acquisition and retention.
How Banks Can Use MDM To Increase Customer Share of Wallet
If you mention master data management (MDM) to sales, marketing or customer service personnel in a bank, their eyes might glaze over. After all, MDM sounds like something for the IT folks to worry about—not something that can help customer-facing staff and managers do their jobs better.
Acquire & Retain Customers with Trusted & Complete Customer Data
But show them this new online demo on the business benefits of MDM, and you’d get a different reaction … quite possibly, “When can we have this up and running?”
This six-minute business-focused demo, Customer Centricity in Financial Services, gives you a step-by-step look at how sales, marketing and customer service in the banking industry can use Informatica MDM and Informatica Data Quality, to get a single view of each customer (also known as the single customer view), including which products and services they are using, and customer relationships (also known as house-holding). This information helps customer-facing employees improve customer acquisition and retention by identifying relevant cross-sell and up-sell opportunities to increase customer share of wallet, and by delivering better customer service because they have visibility into a customer’s full relationship with the bank. (And, it helps IT maximize the value of their customer relationship management (CRM) investment). This demo shows how easy it is to create three levels of customer views:
1) Single customer view: Creating golden records by reconciling names, addresses, emails, phone numbers, and other data from disparate sources for a single view of a customer.
2) 360-degree customer view: Expanding the single customer view to include the customer’s products across lines of business (checking, mortgage, IRA, car loan, etc.)
3) Extended customer view: Expanding the 360-degree customer view to reflect the customer’s network of people, business, and product relationships and help customer teams pursue long-term, multigenerational value. (more…)
What Your CEO Should Know About MDM
A recent PricewaterhouseCoopers survey of C-level executives at large multinational companies revealed an alarming gap between the value and usability of corporate data.
Some 71 percent of the executives believe their corporate data is a highly valuable asset—but just 39 percent of them feel their companies make very effective use of it, a PwC Management Barometer study reported.
In other words, most companies fail to effectively put their data to work to attract new customers, accelerate business processes, and improve performance. Is your company among the laggards? What would you say if your CEO asked you how the company could improve the usability of its corporate information?
Our new executive brief, “What Your CEO Should Know About Master Data Management” takes a look at just that question. Using illustrated examples, this brief outlines a practical, step-by-step use case of how MDM can turn a company’s contradictory and disorganized information into a single, authoritative data set that drives business performance. (more…)
Executives Share Powerful MDM Customer Success Stories @ Informatica World
Our customer executives delivered some inspiring presentations at our recent Informatica World conference on how master data management (MDM) is enabling strategic business imperatives such as increasing revenue by making more relevant cross-sell offers, improving regulatory compliance with more effective reporting, and streamlining key business processes such as order-to-cash to improve the customer experience. A big thank you to all the presenters for sharing their stories!
These innovative companies are using MDM to better leverage their business-critical data about customers, products, channel partners, suppliers, employees and so on to do two things: 1) enable strategic imperatives or 2) solve pressing business problems. If you were at Informatica World this year, but were unable to attend these MDM customer sessions, you can get access to the presentations online by searching for these titles. (more…)