Enhancing Customer 360 with Data Enrichment

In my last article , I addressed the need to create a 360 degree view of the customer and offered some guidelines for getting started with that process. What comes next is a step that I call “data enrichment.”

Data enrichment is where we add new layers of information to a customer’s record, supplementing it with contextual details that ultimately help us to reach that customer with the right messages, deepen the relationship, and generate more business value.

Some people might refer to this process simply as “data collection.” I prefer the term “enrichment” because the goal at this stage is to enhance the value of your baseline customer data by adding new layers of information to the 360 degree view. We’re not aiming to simply collect information for its own sake. Our goal is to gather the raw material that will fuel growth and profitability for the business.

Sources for Data Enrichment?

This customer data enrichment process is usually based on some kind of activity:

Direct Interaction with Your Company

Whenever a customer makes direct contact with your organization, all information pertaining to that event should be recorded in your CRM database. Such events may include phone calls to sales or customer service, chat inquiries, tech support cases, emails, text messages, surveys, and so on.?

Whenever a customer contacts your organization, they reveal important details about their preferences and unmet needs, their opinion of your company, or their level of satisfaction with your product. Make sure you capture that and use it in ways that add value.

The easiest way to collect and organize this kind of information is to fully optimize your CRM system. Enable the various features that collect both outgoing and incoming emails, making those part of the customer record. Design workflows that incorporate chats and text messages as well. If you have a presence on social media, track your customer engagements and make those part of their CRM record. If they open a support ticket, add that data to your 360 degree view as well.?

If your product or service normally triggers a large number of customer interactions, display an aggregate total of each client’s interactions per channel at the top of their CRM record. By bringing attention to that information, you empower your people by helping them understand each customer’s total volume of interactions, as well as their preferred channels of communication.?

Purchase history

Each customer’s 360 degree record should also include a history of products and services purchased from your organization. Don’t overlook details such as warranty registrations, extended support contracts, changes to subscription plans, and so on.

It’s also a good idea to track the dynamics of each customer’s purchase history. For example, prompt your sales agents to ask for additional information when a customer initiates a change to their service plan. This can help you to zero in on each customer’s intentions, preferences, and unmet needs. It’s often a good opportunity to upsell the customer to increase their total share of wallet.

Other Transaction History

It’s often worthwhile to dig deeper into customer transactions, including product returns and payment history, for example. Has the customer ever delayed payment? If so, why? Was the customer dissatisfied with your service, or did they simply overlook it??

Product returns, likewise, can frequently reveal important insights. Were they expecting something different, did they find a better deal elsewhere, or did they simply no longer need your product? Again, prompt your customer service agents to ask for this information and make it part of your CRM record for each client.

It’s also a good idea to include a transaction summary at the top of each customer record, highlighting actionable data. When was the last time the customer upgraded their equipment? Has your company launched a new offering since then that might be of interest? Use this information to drive additional revenue while increasing customer satisfaction at the same time.

Behavior Throughout the Customer Journey

Track your customer’s actions and behaviors with respect to the products or services your company offers. Which product pages have they visited? Which documents did they download, and when? Did the customer rate your product or write a review??

The customer journey includes all of the steps that each client makes, from initial contact through first purchase, post-sales support, renewal, and so on. Their journey might begin with an online search, a visit to your website, and the completion of a contact form to download a marketing asset. What led them to your website, and how much time did they spend there?

The data enrichment process doesn’t end when you close the sale. Continue tracking customer behavior, their changing needs, and their intentions, even after they have completed onboarding. This gives you some of the most valuable signals about customer intent. It’s the key to maximizing total customer lifetime value.?

Social Media

Whenever you identify a customer’s social media profile, store that information part of your customer-360 view. A person’s social media accounts reveal a wealth of information about their demographics, psychographics, lifestyle, values, and economic status. This can be especially valuable in segmenting your customer base, and in reaching out to look-alike audiences with offers tailored to their unique needs.

A true 360 degree view of your customer can be a goldmine. It helps you answer fundamental questions about what each client needs and how you can satisfy those requirements to deliver greater value, both for them and for your business.?