A 720-Degree View of the Customer

The 360-degree view of the consumer is a well-explored concept, but it is not adequate in the digital age. Every firm, whether it is Google or Amazon, is deploying tools to understand customers in a bid to serve them better. A 360-degree view demanded that a company consults its internal data to segment customers and create marketing strategies. It has become imperative for companies to look outside their channels, to platforms like social media and reviews to gain insight into the motivations of their customers. The 720-degree view of the customer is further discussed below.

What is the 720-degree view of the customer?

A 720-degree view of the customer refers to a three-dimensional understanding of customers, based on deep analytics. It includes information on every customer’s level of influence, buying behavior, needs, and patterns. A 720-degree view will enable retailers to offer relevant products and experiences and to predict future behavior. If done right, this concept should assist retailers leverage on emerging technologies, mobile commerce, social media, and cloud-based services, and analytics to sustain lifelong customer relationships

What Does a 720-Degree View of the Customer Entail?

Every business desires to cut costs, gain an edge over its competitors, and grow their customer base. So how exactly will a 720-degree view of the customer help a firm advance its cause?

Social Media

Social media channels help retailers interact more effectively and deeply with their customers. It offers reliable insights into what customers would appreciate in products, services, and marketing campaigns. Retailers can not only evaluate feedback, but they can also deliver real-time customer service. A business that integrates its services with social media will be able to assess customer behavior through tools like dislikes and likes. Some platforms also enable customers to buy products directly.

Customer Analytics


Customer analytics will construct more detailed customer profiles by integrating different data sources like demographics, transactional data, and location. When this internal data is added to information from external channels like social media, the result is a comprehensive view of the customer’s needs and wants. A firm will subsequently implement more-informed decisions on inventory, supply chain management, pricing, marketing, customer segmentation, and marketing. Analytics further come in handy when monitoring transactions, personalized services, waiting times, website performance.

Mobile Commerce

The modern customer demands convenience and device compatibility. Mobile commerce also accounts for a significant amount of retail sales, and retailers can explore multi-channel shopping experiences. By leveraging a 720-degree view of every customer, firms can provide consumers with the personalized experiences and flexibility they want. Marketing campaigns will also be very targeted as they will be based on the transactional behaviors of customers. Mobile commerce can take the form of mobile applications for secure payment systems, targeted messaging, and push notifications to inform consumers of special offers. The goal should be to provide differentiated shopper analytics.

Cloud

Cloud-based solutions provide real-time data across multiple channels, which illustrates an enhanced of the customer. Real-time analytics influence decision-making in retail and they also harmonize the physical and retail digital environments. The management will be empowered to detect sales trends as transactions take place.

The Importance of the 720-Degree Customer View

Traditional marketers were all about marketing to groups of similar individuals, which is often termed as segmentation. This technique is, however, giving way to the more effective concept of personalized marketing. Marketing is currently channeled through a host of platforms, including social media, affiliate marketing, pay-per-click, and mobile. The modern marketer has to integrate the information from all these sources and match them to a real name and address. Companies can no longer depend on a fragmented view of the customer, as there has to be an emphasis on personalization. A 720-degree customer view can offer benefits like:

Customer Acquisition

Firms can improve customer acquisition by depending on the segment differences revealed from a new database of customer intelligence. Consumer analytics will expose any opportunities to be taken advantage of while external data sources will reveal competitor tactics. There are always segment opportunities in any market, which are best revealed by real-time consumer data.

Cutting Costs

Marketers who rely on enhanced digital data can contribute to cost management in a firm. It takes less investment to serve loyal and satisfied consumers because a firm is directing addressing their needs. Technology can be used to set customized pricing goals and to segment customers effectively.

New Products and Pricing

Real-time data, in addition to third-party information, have a crucial impact on pricing. Only firms with a robust and relevant competitor and customer analytics and data can take advantage of this importance. Marketers with a 720-degree view of the consumer across many channels will be able to utilize opportunities for new products and personalized pricing to support business growth

Advance Customer Engagement

The first 360 degrees include an enterprise-wide and timely view of all consumer interactions with the firm. The other 360 degrees consists of the customer’s relevant online interactions, which supplements the internal data a company holds. The modern customer is making their buying decisions online, and it is where purchasing decisions are influenced. Can you predict a surge in demand before your competitors? A 720-degree view will help you anticipate trends while monitoring the current ones.

720-degree Customer View and Big Data

Firms are always trying to make decision making as accurate as possible, and this is being made more accessible by Big Data and analytics. To deliver customer-centric experiences, businesses require a 720-degree view of every customer collected with the help of in-depth analysis.

Big Data analytical capabilities enable monitoring of after-sales service-associated processes and the effective management of technology for customer satisfaction. A firm invested in being in front of the curve should maintain relevant databases of external and internal data with global smart meters. Designing specific products to various segments is made easier with the use of Big Data analytics. The analytics will also improve asset utilization and fault prediction. Big Data helps a company maintain a clearly-defined roadmap for growth

Conclusion

It is the dream of every enterprise to tap into customer behavior and create a rich profile for each customer. The importance of personalized customer experiences cannot be understated in the digital era. The objective remains to develop products that can be advertised and delivered to customers who want them, via their preferred platforms, and at a lower cost. 

Importance of Dressing for Success

Writing and The Written Word

The Importance of
Dressing for Success

Having dressed up for
a special occasion, did you feel a sense of confidence than normal? This is
likely because you unknowingly practiced the psychology of dressing for
success. Some might argue: how does something as inanimate as clothing affect
your confidence? As it turns out, a lot more than you might think. In today’s
article, we’re going to discuss how the way you dress affects your attitude and
confidence, as well as the importance of dressing for success.

Outfits and Their Appeal to Yourself

There’s something about looking good that generates levels of confidence no matter the situation you’re in. Consider the way you felt, when you finally mustered the confidence to ask your crush out on a date, you will likely dress for the success of that situation. Haven’t you gotten dressed up and had your hair professionally…

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The Ills of Knowing Too Much

Writing and The Written Word

There is nothing more disenchanting to man than to be shown the springs and mechanism of any art. All our arts and occupations lie wholly on the surface; it is on the surface that we perceive their beauty, fitness, and significance; and to pry below is to be appalled by their emptiness and shocked by the coarseness of the strings and pulleys.

–Robert Louis Stevenson

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How being an organized writer improves productivity

Writing and The Written Word

Most people find organizing their writing hard, but being organized is the key to effective writing. You should always plan what you’re going to write before you begin writing. Organizing your work helps you develop order in your writing, which will help in avoiding repetition or even leaving out important points. A writing plan can be a few jotted notes to a detailed numbered outline.

Most writings, especially blog writings, have three main parts: the introductory part, the body, and the conclusion. The introductory part should inform your readers about the aim of your blog post, the contents of your post, and what you’re trying to prove in writing. The body should have all the facts, arguments, and information in a coherent order that can be easily understood by your readers. The conclusion should summarize everything by reporting your findings, your views, and your final…

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The Difference Between Hearing And Listening

Writing and The Written Word

Listening impacts how we relate to the natural world and
especially with regard to social interactions. Hearing really is about
receiving sound via the years, which for most of us is done pretty much without
much consideration or concentration. People
spend most of their time hearing and not actually listening. This isn’t
necessarily a bad thing, but it can become a bad habit, especially, if those
missed opportunities to listen and to mentally process the information
presented to us deprives us of opportunities to succeed in life or lease to
avoid some unwanted outcomes.

Listening is a more intermittent process and requires the listener to not only receive sounds but to recognize them as having some meaning, to mentally process that information, and ultimately to act on the information.

People frequently hear but far less frequently listen. The
active processes and listening of recognizing…

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Power and machinery, money and goods

Writing and The Written Word

Power and machinery, money and goods, are useful only as they set us free to live. They are but means to an end.

— Henry Ford

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What is Time Management?

Writing and The Written Word

Why Time Management is Important

Time management is a habit, a process, and a mindset for the working professional to get things done. Time management is our personalized tactical plan to handle today, tomorrow and the coming days. Good time management is about working smarter, not harder, to get the most done same 24 hours in a day and seven days in a week…etc., etc..

Time management is, also, how we ensure that we:

  • know is happening,
  • Know what needs to happen in the future,
  • Are properly focused on the important tasks, and
  • Achieve work-life balance.

Definition of Time Management

Time management is the process of organizing, planning, and working to increase efficiency and productivity, both professionally and personally.

Related References

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