It’s all about the data
In today’s digital economy, clients are continuing to set the bar higher and higher in terms of what they expect from the brands with which they interact. Power that was once held by the providers of goods and services has now shifted to the client, whose demand for a seamless and highly relevant experience at every interaction is driving a shift in the way organisations must operate.
Existing systems are limited
For decades, business applications have been relatively static in their functionality and approach. Because business applications embody and automate an organisation’s business processes, the processes themselves have been relatively static as well, limiting organisations to operating in a reactive manner.
For example, when a customer has a problem and contacts a call centre for help, the service representative manually enters the information into the CRM platform. They then manually complete steps to rectify the problem, typically utilising several disconnected systems. This is an overly reactive process and has been the norm for decades since there has been no other way.
Gaining a 360-degree view of clients
An enormous volume of data is being generated constantly by customers, products, employees, and operations. This can be collected, analysed, and interpreted in order to gain a more holistic view of everything going on within and around an organisation. From the client perspective, behavioural and transactional data such as web searches, social media updates, purchases, or support calls are gathered at every interaction and provide insights that power more intelligent engagements across marketing, sales, and service. These engagements generate even more data and, over time, build and improve the 360-degree view of the customer in a continuous digital feedback loop.
Digitally transforming the customer experience not only drives business, but establishes deeper, more lasting client relationships. Over 90 percent of clients report they are more likely to interact with brands that recognise them and provide relevant engagement or recommendations – making it vital for organisations to leverage their customer data to deliver unique, modern experiences in order to remain competitive.