Tag Archives: customer data management
Some companies are achieving high customer satisfaction, increasing sales revenue, and reducing business and IT costs related to customer data. They’re improving internal productivity for sales, marketing and customer service while minimizing customer churn.
But other companies are not. They suffer high customer churn, poor productivity, and sluggish sales. When it comes to customer centricity, what differentiates best-in-class performers from the laggards? (more…)
Organizations considering master data management (MDM) to support customer centricity often focus on how MDM can help them attract and retain customers and drive revenue through a complete customer view. They also assess the productivity gains of sparing sales and service teams from hunting for customer data in disparate applications.
If you work in IT, you’re aware of the many problems and challenges that bad data can pose for your organization. You know that master data management (MDM) and data quality could address a lot of those issues and give business users the timely and trusted data they need to operate effectively.
Your IT team can map out a plan to implement MDM to support a number of business processes and operations. Most commonly we see three major types of MDM business cases: (more…)
Manage these Seven Inhibitors of Customer Experience Work Success
1. Starting with a mantra, not an action plan.
- Often companies decide that they want to get some early traction by telling everyone to “focus on customer experience.” What happens next is that people realize this is a big corporate priority and begin making plans, creating new scorecards, and taking action.
- This proliferates the silo-based approach to actions that is contrary to the discipline of experience development and management. A lot of action occurs, executives get a “false positive” that action is occurring and traction is happening, but it eventually stalls out because the actions don’t tie together and aggregate up to improve complete end-to-end customer experiences. (more…)
Have you ever received an offer from a company for a product you already own? How about two identical offers for the same product… or even three offers? It’s not uncommon. With all the great applications for campaign management and customer relationship management (CRM) that companies have implemented, how do these costly mistakes keep happening? (more…)
You will learn how business and IT can collaborate to improve customer acquisition and retention, which I bet is one of your company’s top three business imperatives.
Your marketers, salespeople and customer service reps may be brilliant. They may have stellar strategies on how to better meet customer needs and create an outstanding customer experience—one that exceeds the experience your competitors are providing. But without access to the complete customer data they need, they are being held back from achieving their revenue and profit potential. (more…)
In discussions with our top customers and industry experts, it’s become clear why best-in-class companies are best-in-class at attracting and retaining customers.
Everybody knows that one sure way to improve customer experience and increase revenue is to better leverage your data. Because of this, companies have invested millions to collect information about their customers. So why hasn’t customer experience improved and revenue increased exponentially?
There’s a huge impediment. This valuable customer data is fragmented and trapped in inflexible data silos. How much would your bottom line benefit if you could harness that fragmented customer data and create a complete customer view for laser-focused sales, service and marketing? (more…)
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…)