Tag Archives: customer service

Great Customer Experiences Start with Great Customer Data

TCRM

Are your customer-facing teams empowered with the great customer data they need to deliver great customer experiences?

On Saturday, I got a call from my broadband company on my mobile phone. The sales rep pitched a great limited-time offer for new customers. I asked him whether I could take advantage of this great offer as well, even though I am an existing customer. He was surprised.  “Oh, you’re an existing customer,” he said, dismissively. “No, this offer doesn’t apply to you. It’s for new customers only. Sorry.” You can imagine my annoyance.

If this company had built a solid foundation of customer data, the sales rep would have had a customer profile rich with clean, consistent, and connected information as reference. If he had visibility into my total customer relationship with his company, he’d know that I’m a loyal customer with two current service subscriptions. He’d know that my husband and I have been customers for 10 years at our current address. On top of that, he’d know we both subscribed to their services while live at separate addresses before we were married.

Unfortunately, his company didn’t arm him with the great customer data he needs to be successful. If they had, he could have taken the opportunity to offer me one of the four services I currently don’t subscribe to—or even a bundle of services. And I could have shared a very different customer experience.

Every customer interaction counts

Executives at companies of all sizes talk about being customer-centric, but it’s difficult to execute on that vision if you don’t manage your customer data like a strategic asset. If delivering seamless, integrated, and consistent customer experiences across channels and touch points is one of your top priorities, every customer interaction counts. But without knowing exactly who your customers are, you cannot begin to deliver the types of experiences that retain existing customers, grow customer relationships and spend, and attract new customers.

How would you rate your current ability to identify your customers across lines of business, channels and touch points?

Many businesses, however, have anything but an integrated and connected customer-centric view—they have a siloed and fragmented channel-centric view. In fact, sales, marketing, and call center teams often identify siloed and fragmented customer data as key obstacles preventing them from delivering great customer experiences.

ChannelCRM

Many companies are struggling to deliver great customer experiences across channels, because  their siloed systems give them a channel-centric view of customers

According to Retail Systems Research, creating a consistent customer experience remains the most valued capability for retailers, but 55 % of those surveyed indicated their biggest inhibitor was not having a single view of the customer across channels.

Retailers are not alone. An SVP of marketing at a mortgage company admitted in an Argyle CMO Journal article that, now that his team needs to deliver consistent customer experiences across channels and touch points, they realize they are not as customer-centric as they thought they were.

Customer complexity knows no bounds

The fact is, businesses are complicated, with customer information fragmented across divisions, business units, channels, and functions.

Citrix, for instance, is bringing together valuable customer information from 4 systems. At Hyatt Hotels & Resorts, it’s about 25 systems. At MetLife, it’s 70 systems.

How many applications and systems would you estimate contain valuable customer information at your company?

Based on our experience working with customers across many industries, we know the total customer relationship allows:

  • Marketing to boost response rates by better segmenting their database of contacts for personalized marketing offers.
  • Sales to more efficiently and effectively cross-sell and up-sell the most relevant offers.
  • Customer service teams to resolve customers’ issues immediately, instead of placing them on hold to hunt for information in a separate system.

If your marketing, sales, and customer service teams are struggling with inaccurate, inconsistent, and disconnected customer information, it is costing your company revenue, growth, and success.

Transforming customer data into total customer relationships

Informatica’s Total Customer Relationship Solution fuels business and analytical applications with clean, consistent and connected customer information, giving your marketing, sales, e-commerce and call center teams access to that elusive total customer relationship. It not only brings all the pieces of fragmented customer information together in one place where it’s centrally managed on an ongoing basis, but also:

  • Reconciles customer data: Your customer information should be the same across systems, but often isn’t. Assess its accuracy, fixing and completing it as needed—for instance, in my case merging duplicate profiles under “Jakki” and “Jacqueline.”
  • Reveals valuable relationships between customers: Map critical connections­—Are individuals members of the same household or influencer network? Are two companies part of the same corporate hierarchy? Even link customers to personal shoppers or insurance brokers or to sales people or channel partners.
  • Tracks thorough customer histories: Identify customers’ preferred locations; channels, such as stores, e-commerce, and catalogs; or channel partners.
  • Validates contact information: Ensure email addresses, phone numbers, and physical addresses are complete and accurate so invoices, offers, or messages actually reach customers.
PCRM

With a view of the Total Customer Relationship, teams are empowered to deliver great customer experiences

This is just the beginning. From here, imagine enriching your customer profiles with third-party data. What types of information help you better understand, sell to, and serve your customers? What are your plans for incorporating social media insights into your customer profiles? What could you do with this additional customer information that you can’t do today?

We’ve helped hundreds of companies across numerous industries build a total customer relationship view. Merrill Lynch boosted marketing campaign effectiveness by 30 percent. Citrix boosted conversion rates by 20%. A $60 billion global manufacturer improved cross-sell and up-sell success by 5%. A hospitality company boosted cross-sell and up-sell success by 60%. And Logitech increased sales across channels, including their online site, retail stores, and distributors.

Informatica’s Total Customer Relationship Solution empowers your people with confidence, knowing that they have access to the kind of great customer data that allows them to surpass customer acquisition and retention goals by providing consistent, integrated, and seamless customer experiences across channels. The end result? Great experiences that customers are inspired to share with their family and friends at dinner parties and on social media.

Do you have a terrible customer experience or great customer experience to share? If so, please share them with us and readers using the Comment option below.

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Posted in B2B, Business Impact / Benefits, Business/IT Collaboration, CIO, CMO, Customer Acquisition & Retention, Data Integration, Data Quality, Data Services, Enterprise Data Management, Master Data Management, Total Customer Relationship | Tagged , , , , , , , , , | Leave a comment

What Do Your Insured Members Look Like?

What Do Your Insured Members Look Like?

What Do Your Insured Members Look Like?

As I was changing my flight this morning, I needed to make sure that my checked bag made the change as well (because who wants to get to a meeting with nothing to wear but yoga pants and t-shirts?). During the conversation with the gate agent, I was told that the reservation system accessed through a phone call is separate from the flight system that the desk agent had access to. As a result the airport baggage folks had no idea that my flight had changed. The entire time I was working with the gate agent, I kept thinking that they needed a complete view of me as a customer. *I* don’t care that the systems aren’t integrated and sharing information, I only want my bag to make it where I’m going.

The same applies to insurers. Your members don’t care that you don’t have access to their enrollment information when they are calling about a claim. In order to provide better service to your members – you need to be able to get a complete 360 degree view of your members. If you can get a complete view of your insured members while they are talking to you on the phone – that will enable you to give them better customer service. You want to focus on your member’s experiences. This includes strengthening member relationships and fostering high levels of satisfaction to gain member’s trust and easing members’ concerns.

In many insurance companies, getting a complete picture of what each insured member looks like is cumbersome – with one system for enrolling members, another system for member benefit administration and a third for claims processing. These systems may be cumbersome legacy systems designed for an employer-focused market. These legacy systems have been modified over the years to accommodate changing market needs and government regulations. You may be able to access information from each of these systems over time through batch file transfer, reporting against the various systems or having a customer service representative interact with each system separately.

In order to be competitive in today’s marketplace with the focus changing from employers providing the insurance to the individual, you need to provide your members with the best possible service.

Imagine the confidence I would have in the airline that could easily change my flight and re-route my baggage and interact with me exactly the same whether I am speaking to someone on the phone or standing in front of a gate agent. Imagine how much better my customer satisfaction ratings would be as a result.

What do your insured members look like?

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Posted in Business Impact / Benefits, Customer Acquisition & Retention, Customer Services, Data Integration, Data Integration Platform, Healthcare, Real-Time | Tagged , , , , , , | Leave a comment

How A Single View of Your Customer Helps You Better Manage your Customer Service (Part Two)

Earlier in the week we talked about the first steps to “How A Single View of Your Customer Helps You Better Manage your Customer Service”

Now we will be continuing our steps by taking you from point of delivering your product/service all the way through to renewal/returns. (more…)

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Posted in Cloud Computing, Customer Acquisition & Retention, Customer Services, Master Data Management | Tagged , , , , , , | Leave a comment

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…)

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Posted in Cloud Computing, Master Data Management | Tagged , , , , , , , | Leave a comment

MDM for Improved Customer Service

Dennis Moore, senior vice president and general manager, Master Data Management, Informatica, discusses how MDM can help companies improve customer service.

During this video, Dennis answers the following questions:

  • What did you discuss at the 2012 European MDM product advisory council?
  • With the holiday season upon us, how can companies use MDM to best serve their customers?
  • What have other industries learned from Retail? How can they apply what you have shared with us today?

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Posted in Master Data Management, Vertical | Tagged , , | Leave a comment

360° View of the Citizen: Governments Strive to Improve Customer Service

“The public deserves competent, efficient, and responsive service from the Federal Government.  Executive departments and agencies must continuously evaluate their performance in meeting this standard and work to improve it.”  whitehouse.gov (Executive Order 13571, 1993)

For government organizations striving to improve customer service, the path to success has not always been easy. Incremental improvement initiatives have only provided a marginal return. As previously discussed, these initiatives have fallen drastically short of the win-win scenario threshold. Further, demand for new, better, and faster services is out pacing the ability of these already strapped organizations to deliver on additional capabilities.  Budget cuts, new regulations, high staff retirement rates, and a plethora of competing priorities seem to derail the best intentions.  (more…)

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Posted in Public Sector, Vertical | Tagged , , | Leave a comment

360° View of the Citizen: Dream or Reality: What is a 360° View?

What is a 360° View of the Citizen? Not a new question, but perhaps one that is not been completely understood by government. Is the 360° View just the latest buzz word or pipedream, or a real solution for governments that can drive new levels of customer service, while also addressing some of the greatest challenges facing governments today including the dramatic requirement to reduce costs, improve service delivery, decrease error rates, and impact positive outcomes?  Given the siloed nature of government, a 360° View may seem elusive at best or incompletely unrealistic to some. But, some forward-thinking governments are already well down the path of achieving a 360° View of the Citizen and using the power of this approach to improve customer service, meet the increasing demand for transparency, reducing improper payments, waste, fraud, and abuse, impact better program outcomes, and drive positive policy changes.  (more…)

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Posted in Public Sector, Vertical | Tagged | 2 Comments

Why You Need to Re-think Implementing An Integrated Customer Service Hub

In the evolution of Billing ‘thinking’ for Telcos we’ve seen everything from ‘All you can eat’ offers to ‘Another coin in the slot’. But this perennial business process black-hole can prove to be an area that can add to a Telcos armory in retaining and keeping happy its corporate customers. Not only this but following on from lessons learnt by the Financial Services community it can provide early warnings of customer, partner and service exposure, significant benefits to any organisations Revenue Assurance efforts.

The Integrated Customer Service Hub has evolved to allow customers, frequently the high value corporate organisations, on-line access firstly to Billing information then expanding to encompass other operational data such as new service orders and provisioning data, trouble tickets and service usage data. Increasingly customers are requiring being more in control of their services and so the hub has further evolved to allow customer self-servicing allowing them to place orders and receive information in the format that works for them not just their telecommunications service supplier. (more…)

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Posted in B2B, B2B Data Exchange, Data Transformation, Uncategorized | Tagged , , , , , , | Leave a comment

Why MDM and Data Quality is Such a Big Deal for Big Data

Big Data is the confluence of three major technology trends hitting the industry right now: Big Transaction Data (describing the enormous growing volumes of transactional data within the enterprise), Big Interaction Data (describing new types of data such as Social Media data that are impacting the enterprise), and Big Data Processing (describing new ways of processing data such as Hadoop). If you can imagine companies having problems with business-critical master data such as customers, products, accounts, and locations at current data volumes, now that problem is compounded many-fold with the growth into Big Data. That’s where MDM and Data Quality come in as the fundamental solutions. So, why is MDM and Data Quality such a big deal for Big Data? (more…)

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Posted in Big Data, Customer Acquisition & Retention, Data Aggregation, Data Governance, Data Integration, Data Quality, Enterprise Data Management, Identity Resolution, Informatica 9.1, Informatica Events, Master Data Management, Profiling, Scorecarding | Tagged , , , , , , , , , , , , , , , , | Leave a comment

Harnessing Social Media With Informatica

Improving sales and service through customer centricity requires listening to and understanding your customers. And where are customers speaking these days?

You guessed it—social media. Just think about it. Each day, customers tweet 50 million times on Twitter and update their Facebook status 60 million times. Add in LinkedIn and user reviews and YouTube and blog commentary and more and you’ve got a customer data gold mine and a new frontier for marketing.

(more…)

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Posted in Cloud Computing, Customer Acquisition & Retention, Customer Services, Customers, Data Aggregation, Data Governance, Data Integration, Data Integration Platform, Data Quality, Data Synchronization, Enterprise Data Management, Financial Services, Healthcare, Identity Resolution, Master Data Management, Pervasive Data Quality, Public Sector, Telecommunications, Vertical | Tagged , , , , , , , , , , , , , , , , , , | 2 Comments