Discover how a Customer360 driven strategy can increase engagement and drive profitability for B2B organizations
Finding a solution is often hidden within the problem itself. The first steps in solving a complex problem lies in analyzing the problem and its root cause.
The Big “Understanding” Problem
B2B companies often struggle to understand the requirements of a customer at each point of interaction leading to an irate and confused experience:
- Sales teams creating records of customer interactions often create duplicate records
- Duplication of records may not be intentional, but could vary depending on the type of customer interaction, viz., with a channel partner as opposed to a direct customer. They need to co-exist independently but we have to show the records to different groups of users contextually.
- B2B companies encounter various challenges like having subsidiaries which operate in different countries and mapping of customer data across different geographic boundaries becomes a challenge.
- Disparate data leads to problems. Sales people are happy when they make sales, but when the customer calls the service rep who is clueless on the conversation and concerns that were conveyed to the sales agent, the organization runs into problems. The context is lost; customers feel frustrated:
“Where are all of my orders, what’s the latest status of that shipment?”
Understanding that there is a monetary value associated with a negative customer experience
We may not realize, but for every miscommunication or lack of communication there is an attached negative financial value which may not be restricted to that transaction alone.
If you are providing a volume discount but another part of your business is not aware of it or is not ready to give the discount, the customer would likely be unhappy. Moreover, when you realize the mistake you have to compensate the customer with financial benefits which costs the company money while also leaving a negative review in the minds of the customer. There are real costs associated with bad customer experience, not just lost opportunities.
- ABC Suppliers INC
- ABC Supplies
- ABC Suppliers
- ABC Enterprise
- 123 North Street, Toronto, CA
- 123 North Street, Suite 3030, Toronto, CA
- 12 Northgate, London, UK
- 1 Rue de Paris, Paris, France
All of the above refer to the same company with multiple subsidiaries and names. In most scenarios, these entries would be recorded by the different sales reps as separate records within the system. However, the records should be part of the same entity. The lack of consistency not only leads to missed opportunities, but all future customer conversations with service reps and other representatives become misleading and confusing.
Without Customer 360 (Quality, Integration and Visualization), data quality and business operations are impacted
In 30 mins:
– 120 business change address
– 75 phone numbers change
– 30 new business are formed
– 20 CEOs leave their job
Organizations experience lower sales due to delays, inefficiencies and disengaged customers
Majority of the time and effort is spent looking for the information before finally giving up
Risk of penalties, reputation due to missing insights
Organizations use various applications with disparate data resulting in creating silos and duplication
Organizations with clearly defined customer journeys and high employee motivation towards a ONE CUSTOMER philosophy are still not able to realize the full benefits. WHY?
- Organization’s rely on systems which forced their people and data into silos
- This system results in incomplete account information, multiple redundant duplication of records, and poor territory management
- Sales teams start selling to the same customers from different locations and regions
- There is no punishment for bad data and no incentive for good data
Businesses ask simple but difficult questions which are impossible to answer without a truly interconnected system
Since businesses are not able to provide the answer to the simple questions, there is a lack of trust amongst the sales/service reps and the customers.
With the lack of trust in the data comes the lack of funding, because the CFO won’t allow increased budgeting on data management if the data is not of any value?
The solution to this problem lies in answering the big question on how a service rep responds to customer questions as quickly as possible and maybe even pre-empt what the customer is thinking. We need to provide the data to the customer’s question instantly and in an integrated way.
Whats the solution? – The solution lies in building a data driven culture that ultimately aims to break down silos and achieve a single customer 360 view.
Mastering Customer 360 with a data driven culture
Breakdown organizational inefficiencies – Achieve the holistic customer view
Building a data enabled culture is not difficult:
- Data admin to manage data
- Sales reps are encouraged to provide valued data with an incentive scheme
- Integrate with CRM solutions to help them quote on the fly
- With the organizations data, they can layer in the service and other tools to enhance the data to help identify challenges before they become an issue
- Sales people have the armour to win a deal with the right information having the right conversation with client if they are not happy with the level of service
- Helps to improve the CSAT Score (Customer Satisfaction Score)
- Push sales data to service agents so that organizations are not providing service to those who haven’t (Organizations without proper data management often provide service to customers who haven’t yet paid for them resulting in revenue loss).
Building in a marketing automation platform takes the organization to the next level. From customer data silos, the organization is able to move towards a connected and data enabled culture, and witness growth that was previously unachievable. This growth is now within reach through a robust platform that has good/trusted data, connected processes, aligned to the people that serves the clients.
This entire transformation is achievable with 6-8 weeks of committed effort and with the right guidance from an experienced technology and strategic service provider.
Where are you on your Customer Engagement Journey?
With Salesforce Customer 360 such a capability could be built in a matter of weeks:
- When we handle the obvious duplicates in user experiences there is an increase of 25% in adoption amongst the sales and service reps for such data insights. When people do not see the same record showing twice in their application, they automatically start to trust the results which prompts them to use it more.
- When all the disparate data are connected and people are no longer searching through spreadsheets to aggregate opportunities spread across multiple accounts, and can see all the information in one single dashboard, productivity automatically increases by 33%+.
- Sales opportunities increases when you know what the customers have and what they don’t have, do they have an outstanding ticket or are they ready to place more orders, you can also improve sales opportuinities.