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Driving Revenue with 360 Degree Views of Customer Data

Driving Revenue with 360 Degree Views of Customer Data

Successful marketing campaigns rely on a steady stream of data. 

You need to know who your customers are. Every bit of customer data you collect, from purchase histories to birthdays, can be used to drive revenue and increase the power of your brand. 

When all of this information is stored in one spot, you have what marketers call a 360-degree customer view. 

Further defining a 360-degree view of customer data

A 360-degree customer view is a unified, comprehensive view of customer data. You can look at the customer’s entire journey at once. This can include information like when they created their account, how often they make a purchase, and their typical spending range. 

To obtain a 360-degree view, companies need every department to contribute data. The sales department needs to contribute purchase order data; your customer service team needs to log complaints, etc.

Benefits of 360-degree customer views

Properly utilizing a 360-degree customer view can be extremely beneficial for your business. Corralling such a wealth of data means your team will be armed with timely, pertinent information when they interact with customers or devise marketing campaigns. 

Here are a few more of the benefits associated with 360-degree customer views. 

Increased cross-segment collaboration

Traditionally, marketing efforts were confined to one department. There may have been some collaboration with the sales team, but that was it. 

If you want to achieve a 360-degree view of your customers, you need to get your hands on every scrap of data that’s available to you. That means different departments will need to collaborate.

For example, when your customer service team interacts with a customer, having easy access to the customer’s file will help them answer questions and solve problems. They’ll be able to see which product the customer purchased and how many times they’ve contacted customer service. A customer who repeatedly seeks refunds or exchanges should be handled differently than a customer making their first complaint. 

Personalized customer journey

Marketers love data because personalized campaigns are more effective. There’s simply no point in showing cat food ads to consumers who don’t have cats. 

Personalization also includes timing. If you sell high-end jewelry, marketing your engagement rings to customers who are in serious relationships is a good idea. Showing the ad near Valentine’s day is even smarter. 

Without a 360-degree view, marketers can fall prey to the “recency” bias. This means the customer’s most recent actions are all that is considered, leading to blind spots. Knowing that a customer just purchased ten products is obviously important. But, if you don’t know that they only purchased one product the previous three years, you’re missing important information. Is the customer reacting to a new ad strategy? A pricing change? The answer may not be clear…

Better customer relationships 

In the age of social media, connecting with your customers is as easy as replying to a tweet or liking a posted picture. People want to connect with brands they care about because they learn about things like new discounts and new products.

Flourishing customer relationships require a personalized touch. When a customer reaches out on Facebook or calls your office, whoever communicates with them should be able to quickly access the information needed to respond. 

By maintaining a 360-degree view of customer data, you can build brand loyalty by sending thoughtful, effective messages tailored for each customer. 

Increased Revenue

Ultimately, having a 360-degree view matters because it can lead to increased revenue. Not only will you be able to create more targeted, personalized ads, but you will also be able to track the effectiveness of those ads. 

Let’s say your team amasses data on potential customers, people who have visited your site multiple times and may even have items in their virtual shopping cart, but who have never made a purchase. If you send a discount to this group, you can monitor the conversion rate. This will tell you if you’re using that bit of data in the best way. Perhaps these potential customers would respond better to ads highlighting your product’s newest features. 

Having a 360-degree customer view gives you multiple angles to utilize in your ads. 

Klover: A Strategic, Data-Driven Marketing Expert

You can collect customer data through your website and social media accounts. However, the information you obtain may be limited. Modern customers care about privacy and are less likely to share personal details. 

This is where Klover can help. If you want a real 360-degree customer view, take advantage of our zero-data approach. Our customers provide their data willingly, so it’s both ethically sourced and reliable. 

On your own, you might be able to learn your customers’ birthdates or keep track of product pages that they visit. With Klover, you can complete the picture. We know where customers shop, where they work, what their monthly budget is, and more. 

Data-driven marketing campaigns help your business stand out. Partner with Klover to access secure, high-quality data.
Email info@joinklover.com for more information.

Josh Lamb
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