How does a 360-Degree Customer View Will Help You Grow Your Business?

As a marketer or salesperson, one of the most crucial things to understand is your customer's point of view. Whether you're attempting to figure out what people do, how they feel about certain products and services, or why they act the way they do, it all boils down to understanding their needs and motivations.

But how do you figure out what your clients really want? The answer is a 360-degree picture of the customer.

We often assume that because we talk to our consumers every day, we understand their requirements, wants, and desires - but this isn't always the case.

That is why it is critical to obtain as many opinions as possible on what they require and to examine all available facts before making conclusions about where you should concentrate your efforts.

What does it mean to have a 360-degree view?

A 360-degree view of a customer is a single location that houses all of your customer data. Customers' basic contact information, as well as all of their past and current shopping data, all interactions with customer support, and their social media activities are all collected.

A 360-degree relationship cycle is a series of touchpoints through which a customer interacts with a company. Purchases, marketing communications, customer service, and social media all play a role. Having a fantastic product is no longer enough. To match, you'll need excellent customer service. That's why having access to all customer service-related contacts, such as requests, complaints, and inquiries, is critical to obtaining a complete picture of a client.

The way your customers connect with and react to your brand on social media is an indicator of how they interact with and react to your brand on a daily basis. Keep an eye on social media outlets to see if your customers are talking about you there. Do they pay attention to your branded profiles? Are they reacting to your postings in a positive way? Do they provide suggestions or pose questions?

You genuinely know your consumers if you, as a firm, are present at and collect information at each stage in this 360-degrees engagement cycle. It assists you in better comprehending the priorities and preferences of your clients. As a result, you'll be in a better position to anticipate their current and future needs.

Why is it so Important to Have a 360-Degree Customer View?

A 360-degree perspective of a consumer offers a company a wealth of information that can be used to improve its bottom line in the long run. Customer alignment, improved predictive analysis, customer loyalty, and improved bottom line are four advantages of a 360-degree customer view.

Alignment with Customers − For long-term partnerships and to keep clients through the appropriate processes, a company needs customer alignment. After all, keeping a client is easier than getting a new one.

Businesses can achieve customer alignment by utilizing a CRM platform that provides a 360-degree perspective of the customer. This type of solution facilitates information sharing between departments and optimizes company operations, resulting in a better customer experience.

Predictive Analysis Advancements − A company's success is based on forecasts, such as the number of buyers expected and when a product or service would be in high demand. Incorrect analysis can result in severe issues, such as resource waste and shortages.

A business's basis for making intelligent forecasts is built on having access to relevant and accurate information from a 360-degree customer view. A business can benefit from the following information −

• What percentage of their customers are likely to buy a product or service?

• How likely their consumers are to return or cancel a purchase

• The 360-degree perspective of the client shows behavioral data and demographic knowledge, providing important insight into user responses and broader patterns.

• Access to this kind of client data will improve predictive analysis, allowing the company to focus on the most important tasks.

Customer Loyalty − Customers today expect the business end-product and positive experiences along the customer journey, from initial contact to repeat business. They want to be treated well by the company throughout the purchasing process. Most businesses find it difficult to win and retain clients because of these customer demands.

Above and above the product's price or other economic transaction, the overall customer experience is the most important differentiation to maintain.

Investing in consumer data collection for a 360-degree client view can be a wise decision. Customers, on the other hand, like to buy from a company that is completely focused on them. Furthermore, some customers may be willing to pay more for a product that provides a personalized experience. To keep customers loyal, businesses must focus on improving service rather than just the product. Customers place a high value on how quickly their products and services are delivered.

Benefits to the Bottom Line − Businesses may boost ROI on marketing campaigns by using a 360-degree consumer view, which helps the bottom line. It accomplishes this not only by growing consumer numbers but also by lowering costs.

Having access to both hard and soft data provides a 360-degree client picture that allows a company to determine the most efficient way to reach a consumer, decreasing waste. Let's say you're in the business of online marketing, and you know that the majority of your consumers come through Facebook. In that situation, instead of squandering money on other social media networks, you may spend more time and money advertising on Facebook.

The marketing department, as well as customer service, production, and supply chain departments, all benefit from a 360-degree picture of the consumer. As a result, the 360-client perspective benefits the entire company by ensuring that all departments collaborate to attain the end goal or bottom line (like satisfied customers or a profitable business).

What can a Customer Data Platform (CDP) do for you in terms of getting a 360-degree perspective of your customers?

Data of superior quality is the foundation for good marketing; therefore, look at your data before you do anything.

Unifying your data is the first step toward achieving a 360-degree customer perspective, and for many marketing teams, this is the biggest roadblock to success because their data is kept in segregated platforms. A customer data platform (CDP) collects and combines all of your customer data into a single, unified system, ensuring that all members of your marketing team have access to structured, correct data.

A CDP de-duplicates and cleanses your customer data in real-time, then leverage that information to produce a Single Customer View (SCV) for each of your customers. This SCV is what keeps all of a customer's information and interactions, giving you a 360-degree perspective of them.