Challenges Of Customer360 For Finance
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Customer data is spread across these numerous touchpoints. Without system synchronization, errors and duplicate records can become an ongoing problem.
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With the explosion of new interaction platforms, the job of aggregating these disparate data sources has proven to be difficult.
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Product /Services Pricing adjustment is challenging ( Consolidating the information from different sources like : Weather, Demographics and Crime rates, etc.)
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Unable to achieve Customer Expectations/Needs.
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Risk of failure to be compliant
Benefits
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Improvement in cost of acquisition (CAC): With more targeted engagement based on deep customer insights, marketing and sales will see increased pipeline and CAC can be reduced.
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Increase in sales velocity: Reduce the time it takes to convert a lead to a sale translates directly to annual revenue.
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Improvement in retention, upsell, and cross-sell: More relevant and timely customer communications have an outsized impact on the value of that customer over time.
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Product innovation: Data-driven product innovation can help drive improved market share, customer satisfaction, pricing leverage, and more.
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Opportunity cost of time to market: By putting trusted data in the hands of decision-makers, you give them the power to make faster and better business decisions.
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Risk mitigation: Technology that supports data health lets you control how customer data is captured, stored, and accessed, all while maintaining compliance with security and privacy regulations.
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Gain Insights: Gain better insights from your customer data regarding customer churn or dissatisfaction.
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Targeted promotions: Run targeted promotions that are aimed at customer retention, upselling or cross-selling and direct account and customer service activities with personalized experience.
Results
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