Next Best Offer – The Missed Potential in Customer Experience
Dear CDOs and CMOs of this world: What is the most significant waste of potential in a customer experience strategy? From my point of view, it is the failure to provide a “next best offer.” Consider what kind of experience a company could provide if they leveraged the potential of the data they already hold about my preferences and purchases. In my video below, I share an example of this:
In this particular case, I have already had several interactions with the brand. As a result, they have the potential to already know a lot about me, including things like:
- I currently have a “connected” car
- I have a online profile with this brand
- I follow and interact with the brand on both Twitter and on Facebook
- I have recently called their service hotline
- I have spoken with several sales people
- I have recently saved some new configurations online
So, at your company, what is the experience like for your customers and prospects? Can you differentiate a customer from a prospect when they connect to you? Are you still asking for a phone number every time a customer calls you or visits your front desk?
Evolving to a Next-Generation Customer 360 View
A foundation for next generation of customer experience is a single view of the customer. But this has reached new dimensions and evolved from unified to verified to enriched to strategic and now to digital level of customer 360.
Whether you are in the automotive industry, or any other business, you may want to think about where you stand today on data driven customer centricity. In days of everyone talking about digital transformation, you need to be clear, that at the end of the day, this means to build a data driven enterprise.
Where to start better customer experience?
In articles, blogs and white papers from leading consulting companies you will read that it all starts with the C-suite, so I don’t have to tell you this. If you are looking at the HOW, I like to share a view blogs and events which can give you a jump start into a better control of your data, in order to set up a culture, processes and soltuions for realizing the potential of the “next best offer”.
- Informatica World, San Franciso May 15-18
- EMEA MDM 360 Summit, Amsterdam June 8
- Focus Day: Master Data Management, Stuttgart, April 27
- Long-term Relationships: Improving Customer Experience
- Start Here: Your Guide to Competing on Great Customer Experiences
- Maximize the value of big data to gain a complete view and understanding of all relationships across your organization.
- CMS Wire article: MDM Helps You Fight Data Fragmentation & Tap Into Data’s Value
Want direct interaction? Follow my great colleague Monica Mullen, a real expert in customer centricity.