No one likes the “anonymous customer treatment”, especially coming from their favorite brand or frequent retail market. Inaccurate data gives a disastrous impression. According to the 2019 global data management benchmark report, “nearly half of organizations globally say that a lack of trust in their data contributes to increased risk of non-compliance and regulatory penalties (52%) and a downturn in customer loyalty (51%)”.
It’s not flattering to be contacted as “Dear Customer” or by a misspelled name/last name. It shows a lack of detail and attention that may drive a prospect away from a purchase, and instead considering other brands that are clearly focused on their customer preferences and needs. According to the Global State of Multichannel Customer Service Report, “97% of global consumers say that customer service is very important or somewhat important in their choice of and loyalty to a brand”.
Marketers and salesmen now have multiple channels at their disposal to reach buyers, and build strategies to persuade and win. The trick is how you do it, without being overly intrusive and scaring away prospects. This issue is especially prevalent when acquiring prospect lists from information brokers. Such lists, while a powerful marketing medium, are generally chock full of misspellings, outdated information, incomplete fields, etc. That’s why it is imperative to enhance your data first with effective matching, profiling, deduplication, and enrichment tools before you get started on your next marketing campaign.
Put Yourself in the Customer’s Shoes
Brands often ignore a customer’s interaction with their company until they are about to purchase. Take a step back and shet about: what did they see first when they visited our website/store? When? How? Who did they speak with? Did any friend, coworker, or neighbor refer them? Or on the opposite end of the spectrum: did they hear any negative feedback on our products, are they considering competitors, and if so, why? Ignoring the customer’s experience on any of your company’s touchpoints can break a sale.
Every single step towards, during and after the purchase, can build or destroy not just the transaction, but your whole relationship with a customer, and even spread to influence other customers, both potential and existing. Having data that accurately the customer experience in a timely manner can help you avoid such issues while also improving customer experience and therefore increasing revenue. Bain and Company claim that, by leveraging data to engage with customers, they’ve seen a 40% increase in revenue.
There are 3 major instances where customers interact with your brand:
- Before the purchase.
- During the purchase.
- After the purchase.
Review your purchase process and ensure that no customer touchpoint is being ignored and data from each interaction is recorded properly. Trouble is, data from different touchpoints might be fed into different systems across the enterprise. And in many cases, you might have duplicates of the same customer across disparate applications and systems. To make sense of customer data and leverage it for better customer experience, you should integrate data across systems, clean and standardize it, and match records across and within systems for deduplication and enrichment purposes. Perhaps one application contains name and phone number of a customer, while another also contains their address? You could create a master record that combines all of that information into a single golden record. See how DataMatch Enterprise can help you do that and much more.
Your customer experience cannot be conceived as individual, unrelated moments of truth with your brand. It is, in fact, an organic journey that also has to do with perceptions and emotions, not just raw information and cold Data.
“89% of customers get frustrated because they need to repeat their issues to multiple representatives”