The reliance on digital interactions across popular platforms such as WhatsApp, Telegram and Facebook Messenger continues to grow rapidly. From small to large enterprises, there is a shared common challenge – grappling and managing an ever-expanding volume of customer data scattered across various platforms. As businesses strive to create personalized and engaging customer experiences, a pivotal aspect comes to the forefront involving efficient customer data management. The answer to this is to seek out and leverage on a tech solution that carries the following key features, and why they are important in reshaping the way enterprises connects as well as understands their customers better.
Data Consolidation
According to a recent study conducted by Salesforce, 73% of consumers expect brands to understand their needs and expectations, yet only 51% believe brands are actually delivering. This gap can be attributed to the fragmentation of customer data across various communication platforms, making it difficult for businesses to gain a comprehensive view of their customers’ interactions and preferences.
In the same vein, a survey by Accenture found that 91% of consumers are more likely to engage with brands that recognize, remember, and provide them with relevant offers and recommendations based on their profile, historical purchases or preferences. This highlights the need for businesses to transcend the limitations of scattered information found on individual platforms by leveraging on a solution that automatically updates and converges information seamlessly.
The benefits of data consolidation also extend to customer retention and satisfaction. Research conducted by Aberdeen Group demonstrated that businesses capable of integrating their customer data across various channels stand to achieve an average of 89% customer retention rate, compared to 33% for businesses that do not have such solution in place. This underlines the significance of a comprehensive customer view in fostering loyalty and enhancing the overall customer experience.
Custom Flagging
Considered by experts as an art of contextual communication, a study conducted by Deloitte revealed that 36% of consumers expect brands to offer personalized products or services based on their past interactions. This is where the custom flagging feature comes into play. By identifying and highlighting specific information, businesses can craft interactions that resonate with customers on a deeper level.
One noteworthy example is a telecommunications company that used custom flagging to mark instances of customer dissatisfaction. By doing so, their customer support teams were able to address these concerns with empathy and tailored solutions. This approach led to a 40% reduction in customer churn, showcasing the potential impact of contextually aware communication.
The Future is Now
Symbiosis of advanced data management capabilities and a digital communications platform signifies a leap towards a unified customer experience. A report by Forrester emphasized that businesses should prioritize customer experience through the help of such innovative tools as it generates 6x more revenue than their counterparts that do not. By consolidating customer profiles and embracing custom flagging, enterprises pave the way for a future where every interaction is infused with context, relevance, recency and authenticity.
The digital age has given rise to unparalleled connectivity, but it has also fuelled data fragmentation and disorganization. The power of these cutting-edge features, backed by research and real-world examples, has proven to be the cornerstone of a customer-centric approach that sets brands apart in an ocean of choices. As the world becomes more digitally interconnected, the management of customer data will play a pivotal role in unlocking the potential hidden within each interaction.
Speak to us today for a free consultation and discover how Ventana, our latest digital communications platform, can help your enterprise yield intelligent actionable data through a more efficient approach of customer data management.
