How Unified View of Customers Can Help You Transform Business Growth
The eCommerce industry in the country has witnessed a boom in recent years. According to an analysis by the India Brand Equity Foundation (IBEF), the eCommerce industry in India is expected to become the second largest in the world by 2034. Due to such growth, marketers constantly find themselves trying to develop new strategies and techniques to stay ahead of the competition.
One effective way to do so is by catering to individual customer needs in a more personalized, timely, and relevant manner. Hence, it becomes necessary to have a thorough understanding of your customers – who they are and how they respond to your brand. This becomes possible by adopting a unified customer view strategy.
A unified customer view, also known as a ‘360-degree’- or ‘single customer’ view, involves consolidating data for a customer. This includes various details about the customer, right from demographic details to purchase history to interaction with the website, and more. Bringing together data from a number of different touch points in one place helps e-commerce businesses to have accurate insights about the customer. This information may then be used to create marketing campaigns that maximize every customer’s lifetime value.
Benefits of having a unified view
Having a unified view of customers plays a pivotal role in transforming business growth. It is a powerful method of achieving your end goal of customer satisfaction. Following are the six major benefits of having a single customer view.
Gives a 360-degree view of customers
Having a unified view of customers helps you obtain relevant information about them. You become aware of their browsing behavioural patterns, which products they add to their cart and which they abandon, among others. You may also collect their demographic details– their gender, age, and location. Through cookies, you may identify the device that they use to browse your store, either through mobile, tablet, or desktop.
The enhanced customer shopping experience
Ability to act quickly
Real-time access of information
Personalized recommendations to customers
A 360-degree view helps your business to understand what its customer base is buying and from where. It also helps in identifying what prices and promotions the customers are receiving. You may, therefore, create effective loyalty programs, and offer personalized recommendations to your customers. This, in turn, will help in more effective and engaging customer experiences.
Having a unified view helps in sending the right marketing messages at the right time to your customers. This helps in maximizing revenue, thereby transforming business growth.
The world of retail continues to grow at an incredible rate. E-commerce businesses need to develop strategies to stay ahead of the competition. Having a unified view of customers is a perfect way for E-commerce businesses to address their needs and enhance their shopping experience. A unified customer view leads to improved overall customer lifetime value, which is the key to sustainable profit and business growth.Connect with us now for more information.