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  • Writer's pictureJason Ten-Pow

Unlocking the 5% Difference

Thriving companies excel at building Unbreakable Customer Relationships because they are more effective at utilizing their customer data.



Businesses recognize that to succeed they must collect as much customer data as possible. In today's digital age, capturing customer data is easier than ever before. From the most general customer details to specific emotions about the customers' journey, all of this and more is available to brands.


The challenge remains, how to access and use this customer data to improve a brand's decisions and actions. IBM estimates a staggering $3 billion annual waste in the United States alone due to bad and duplicate data. This problem is only compounded with the introduction of each new data platform or tool in your organization.


Our online research among 1000 CX leaders across organizations of various sizes confirmed two distinct approaches when it comes to extracting greater value from their customer data.

 

Channel-centric approach to siloed customer data


While 95% of brands have been able to collect customer data and apply the findings from the data to drive the strategies at departmental level, they lack of cohesive organization-wide customer strategies that are driven by real customer pain-points across different stages in their customer life-cycle.









Customer journey centric approach to derive greater value from customer data


The top 5% of brands understand the value of tracking their customers across all interactions and connecting all data together in order to have a complete end-to-end single view of the customer across the entire customer lifecycle.







 

Although everyone has come to a common understanding of the importance of customer data platforms - CDPs, 95% believes that this endeavor of collecting and connecting customer data is too costly to undertake.


For those that recognize the importance of considering the full integration of customer data—behavioral and emotional responses—captured at different points in the customer's journey before formulating tactical recommendations, bespokeCX has created a the system that makes this more affordable, easy to implement and use than ever before.


So before you give up on implementing a CPD platform, speak to us.


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