Customer 360 Strategy Execution: Speed and Agility Imperatives

The key question in 2021 is not whether organizations should have customer 360 strategy but rather how to accelerate the initiative and leverage it effectively.

Customer 360 strategy enables the delivery of required customer experience and helps organizations to capture and analyze customer’s needs, behavior and influences. It entails bringing all aspects of customer data from various sources to have a unified view.

Customer 360 helps the leaders in developing offerings, cross selling, upselling, determining promotions and discounts and to earn the loyalty of customers. It helps organizations to maximize the life cycle value of its customers and stay relevant.

Customer 360 strategies have proved its significance and value to leaders in the aftermath of Covid-19, and it stays on the top agenda of the management.

But if executed in traditional way - data silos, disparate data sets, complex and varied tool sets demanding different skills in the teams and building trust in data lineage all add up the costs of time and money for the initiative.

Organizations suffer from the opportunity costs because teams take time to feed required data sets to their data scientists to find next best action in marketing and sales and addressing the customer’s changing behavior and needs.

At NSHORE, we practice 4 tenets of Customer 360 strategies to execute it for our clients –

1. Unified platform / tool stack - Industry offers various data and analytics tools and each tool has its strength of its own to deliver best results, but Customer 360 strategies require all these tools to work in harmony, seamlessly and without adding delays in “insights flow”. Industry has realized it and latest offerings from innovators like Incorta are helping organizations with Unified Data Analytics Platform.

2. Business friendly unified and dynamic views of customer- Customer data and views may lie in different applications and data bases in the enterprise. The team may need to leverage the customer data lying outside the enterprise e.g., in social media or in an event directory. Customer360 strategies works effectively if all these data can be consolidated and business can have a unified view. The execution brings a competitive edge to the business leaders if these views are dynamic to incorporate any change in existing data or to bring in new data sets without delays.

3. Data governance – Leaders need to find trust and confidence in the data and insights they are referring for making decisions. Data journey -from raw data to analytics ready data -is risky for the data fidelity and fragmented tools and processes can kill the trust in outcome. A sustainable, scalable and measurable governance process, unified tools and collaborative teams ensure the trust in data.

4. AI and M/L to assist data engineering and data management – The teams must consolidate, clean, and complete the records in data sets. AI and ML can assist teams to assess the quality of data sets. The automation can also assist in matching the records and provide low code/ no code technologies for teams to leverage data.

We at NSHORE help organizations bringing the efficiency and agility in executing the customer 360 strategies that in turn offers our clients the competitive advantage in the marketplace.