The benefits of a 360-degree customer view
The average customer shopping for a car touches over 900 digital touchpoints. We live in an era in which customers are constantly moving in and out of various digital channels and, as a result, customer journeys are becoming increasingly more complex.
Building a 360-degree view of the customer provides benefits to businesses across various sectors, whether it is a retailer, a healthcare provider, or a bank. The reality is that as more and more customers expand their digital footprints, they create a pool of invaluable data about their customer journey––from data on recent purchases to day-to-day interactions with the brand.
In order to truly benefit from this data, businesses must aggregate customer information, behavior and data––all in one place. This helps businesses better drive marketing and sales growth, better understand customer behavior and, most importantly, deliver a more personalized customer experience. With a 360-degree customer view, every company can have a reliable view of their customers and relevant attributes so that any employee or system has access to the customer information they need to move the customer along the customer journey.
Here are three benefits that a 360-degree customer view provides:
- Create more strategic sales and marketing campaigns. One of the main benefits that a 360-degree customer view provides is the ability to extend the sales and marketing teams of the business. These teams can build more strategic sales and marketing campaigns by using existing data. For example, if a retailer sees that a customer frequently purchases sneakers and athletic equipment, the sales and marketing teams can create marketing and advertising campaigns that target this interest.
- Understand customers and their behaviors. Another benefit of a 360-degree customer view is the ability to better understand customers, their tastes and behaviors. For example, with an aggregate customer view, healthcare providers can understand not only a patient’s holistic medical history, but also their habits and behaviors. Does the patient schedule regular annual exams? What is the patient’s medical history and what preventative measures, if any, can the health provider take?
- Deliver more personalized shopping experiences. Perhaps one the most important benefits of a 360-degree view of the customer is that it provides the ability to deliver more personalized shopping experiences. Businesses can use aggregated, invaluable, data to provide customers with more personalized experiences across their lifetime shopping journey. For example, if a bank is aware that a customer now has new dependents that will attend college in a few years time, the bank can send personalized, saving account offerings to the customer. And, similarly, the bank can provide more personalized retirement plans down the line for the customer.
Challenges with building a 360-degree view of the customer
There are many benefits to building a 360-degree view of the customer, but businesses face challenges when it comes to actually building this unified view. One of the main challenges lies in bringing together data from disparate sources. A customer’s personal data, for example, might be stored in a CRM like Salesforce, their order history data might be in a custom legacy system, their purchase data might be in a POS system like Shopify and their social media data might be on Facebook, Instagram, Twitter and the like.
So how can businesses build a 360-degree view of the customer and begin reaping the benefits that it provides?
MuleSoft enables businesses to build a 360-degree customer view through a unified solution: Anypoint Platform.
MuleSoft: Your partner for creating a 360-degree view of the customer
MuleSoft has helped businesses across various sectors create a 360-degree view of the customer by providing with a solution, Anypoint Platform, to integrate various applications and systems within their technology stack.
The IT team at Mount Sinai, an integrated healthcare system based in New York, wanted to transform care by building a 360-degree patient or customer view and improving coordination between physicians, caseworkers and community care providers. This required breaking the silos between the medical and non-medical data, applications, systems and devices used by Mount Sinai teams and community partners.
Using MuleSoft’s Anypoint Platform, Mount Sinai brought together siloed data in a variety of applications and systems – from medical systems to billing applications – and built a 360-degree customer view using API-led connectivity, an approach in which applications, data and devices are exposed as APIs.
What was the impact of this API-led approach? Well, before Mount Sinai integrated these data sources, patients sometimes avoided seeking care until their conditions were so severe that they required an ER visit. This is no longer the case because Mount Sinai is now able to surface relevant data to all stakeholders involved in the patient journey.
Today, a 360-degree customer view provides great benefits to Mount Sinai. It allows them to bring together siloed data and establish better collaboration with community care providers, who can then reach out to patients at the right place and time. As a result, Mount Sinai can now promote preventive care practices, reduce ER re-admissions and improve care through this 360-degree view of their customers.