Use the customer data you hold to improve the customer interface(s):

• Understand and determine individual customer worth across your customer base.

• Use lifetime value data as key feeds into marketing activity.

• Gather and use customer preference data to build customer satisfaction and reduce operating costs.

• Ensure that retention activity is driven by all valid data available.

Presenting data already known to the organization at the customer interface is, if handled correctly, a way in which the customer can recognize the value in providing such information in the first place. It can also be a driver for personalized messaging at the interface, with all the benefits that it entails.

Two organizations flagged the capability to return comprehensive customer data at each customer touch point, adding significantly to the customer experience. However, the majority of organizations were unable to do so at all, or only in a limited number of contact channels. Limitations around customer data integration and the single customer view were the most common barriers identified.

Customer data should be used to recognize customers with multiple relationships and in some cases multiple addresses. Proper recognition of customer households leads to accurate segmentation and modelling. It also enables organizations to execute the most appropriate groupings for strategy execution. Across your business, it is vital to start with accurate recognition of each individual, and how these individuals make up each customer household in your base and across each product line.