Here are 3 ways that utilizing customer data integration in order to build a single customer view can help your organization do more with less:
1. Your best prospect is your current customer. Customer Data Integration can help you correlate records in your databases that are part of the same organization. This can enable you to enhance marketing to your existing customer base in order to gain a greater share of wallet with your current customers. The built in referral from already having done business with another part of the organization shall give you a greater chance of success and be less costly than other outreach efforts.
2. Allocation of resources – How many unique customers do I have? How many unique prospects do I have? Where are my customers and prospects located? Which industries or other marketing segments are my customers and prospects in? With so many representations of the same organization and so many different locations for these organizations in your databases many times the answers to these questions are not so simple. However, customer data integration can help create the organizational hierarchies and enable you to properly count your customers and prospects based on the segmentations that are meaningful to you. With this information, you can properly allocate the correct number of employees and other resources that are needed to market and service these segmentations.
3. Market Consolidation – Maybe you are in a position to acquire a competitor or to take on a complimentary organization that adds to your offerings. In order to get the true benefit of the merger, you need to consolidate the other organization’s data into your systems so that you can capitalize on the opportunity that is created by the merger. Customer data integration can be used to help you identify the unique and the overlap among the organizations. As mentioned above, a CDI match can help you create the corporate hierarchies of the customer and prospects of the two combined organizations so that you can maximize the opportunity created by the consolidated organizations as well properly allocate your resources so that you get maximum return on your investment.
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