New marketing buzzwords often fizzle into obscurity.
A 360-degree view, however, is a term that’s going to be important to marketers for the foreseeable future. Consumers have many brands competing for their attention; the companies that stand out personalize their approach. A 360-degree view of your customers makes it easier to find the personal angle.
This article will explain what a 360-degree view is, why it’s important, and how you get it.
Typically, a 360-degree view refers to the ability to see everything around you. The term comes from mathematics, where a full circle is 360 degrees.
However, in marketing, a 360-degree view of your customers refers to a comprehensive picture that encompasses all of the customers’ data. The information is collected in a single place, so it’s easy to access. You might have data about their birthday, the kind of technology they use, their order history, etc.
A 360-degree customer view is important because these scraps of customer data can be stitched together to help you successfully create targeted marketing campaigns. A customer with a history of repeat purchases needs a different level of attention than a customer who returned their purchase or left a negative review. Grouping these customers together and communicating with them as if their needs are identical is not generally a good idea.
Once your company commits to achieving a 360-degree view, it will take cooperation across every department. The customer service department needs to keep track of every email; the sales crew needs to log every cold call.
A 360-degree view gives a clear view of a customer’s past and present relationship with your brand, and a strong insight into the future.
Switching to a 360-degree view won’t give your business the power of perfect prophecy. But you will be able to predict your customers’ future actions with improved accuracy.
Is this a new or an established customer? Have they had any interactions with your company before?
Customer history is the first part of the 360-degree view. It includes meaningful information that will help you shape future interactions. Focus on data points like:
If it’s a new customer or one who hasn’t shown significant interest in your brand yet, past information will be scant.
What’s the customer doing right now? 360-degree marketing requires copious data collection. Every single interaction needs to be logged.
Present interactions are often fueled by the past, which is why it helps to have all of your data collected in one spot. If the customer is reaching out to customer service, for example, the agent needs access to the customer’s order history and any previous complaints.
Knowing where your customers are in the buying cycle will help you stay on top of your sales goals.
This is where having a 360 customer view is extremely beneficial. If you’ve amassed enough data, you’ll have an idea of what the future customer relationship might look like. This can help you communicate better.
Figure out what your customer is interested in. Do they constantly browse the dessert page but never place an order? Offer a discount. This might affect their behavior and convince them to finally make a purchase.
360-degree marketing is crucial because online privacy dynamics are evolving.
Companies need to look toward “cookie-less” data collection in the future. 360-degree data can include cookies, small snippets of data that store customer information, but it doesn’t have to. The scope of 360-degree data is much broader.
The most significant benefit of adopting a 360-degree marketing approach is its effect on your customer relationships.
If everyone on the team has access to all of the customer’s information, it helps each interaction go smoothly. Consumers want to do business with brands that add a personal touch. A birthday card, personalized savings based on the customer’s interests, there are many ways to use personalization to your advantage.
Utilizing a 360-degree customer view gives you an advantage over your competitors. A direct mail campaign makes sense for customers who haven’t interacted with your brand in a while but isn’t the best choice for repeat buyers. In their case, a more personalized approach will likely get a better return.
Or consider an expensive, niche product among lower-priced items. Marketing the more expensive product to all of your customers can cause you to lose money because your regular customers may not be aware that there’s a cheaper option.
Solely marketing the lower-priced items is problematic as well. 360-degree marketing lets you create personalized plans tailored to the customer’s interests.
Customers who are likely to buy your expensive, niche product should receive those ads, while the rest of your customers can see ads for everything else. There’s little point in marketing an extra-large dining room table to a customer who’s indicated they live in a studio apartment. They might, however, be interested in your futons.
A 360-degree marketing approach allows for closed-loop attribution.
This means that you can track your advertising spending and identify exactly which campaigns are most successful. If you own a furniture store and your marketing strategy to increase futon sales is successful, you’ll know how the campaign was born and where the initial data came from.
Perhaps you targeted people who specifically indicated they wanted a new futon, or perhaps you sent flyers to people who bought a futon three years ago and might need a new one. Whatever you choose to do, you’ll be able to track how much money you spent and how effective it was.
There are multiple ways to gather 360-degree data. These include using social listening tools, CRM software, third-party data, and your own resources.
Social media can tell you a lot about your customers. You can find out exactly what they’re saying about you, good and bad. One of the most popular social listening tools is Hootsuite, a platform that allows you to track all of your brand mentions across social media.
A good CRM system will make it easy to keep track of customer data. Store information like age, location, order history, etc. This is the data you’ll use to create a 360-degree customer view. Depending on your business’ needs and size, you have many software options, from choosing a commercial product to building your own custom CRM.
Third-party and zero-party data can provide extra fuel to your marketing efforts. Third-party data is collected by an outside party, while zero-party data is data that consumers explicitly share in exchange for something of value.
In the future, data will be driven by consent. Your brand needs access to cookie-less data to thrive. Here’s where zero-party data, like that which Klover has amassed, can be incredibly useful.
Klover unlocks fair access to financial products and services, with a users’ permission, based on a unique financial profile. This gives Klover explicit data about their past and current purchases. Instead of having to guess how much a customer spends on coffee each week, Klover can give you an exact figure.
To obtain a complete 360-degree customer view, you should also consider data that you collect yourself, like how many times a customer emails customer service or calls your hotline.
Take charge of your brand’s marketing strategy and lead it into the future today with Klover. You can access our zero-party data through our Curated PMP service and use the information to create a 360-degree marketing strategy.
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