How Does the Customer 360 Work?
For many years, we have known that customer data contains many a gem of insight. For the first time in our history, technology has progressed to the point where we are able to extract these insights and act upon them. Some of this is already happening – predictive lead scoring and behavior-driven online advertising are two areas where data science has made huge leaps. These insights will unleash the ingenuity that is inherent to the human mind, and propel us to the next level of performance. And Customer Success Automation is the next frontier. There is a pressing need for a system that can stitch together the data and business events using previously defined processes in real time so that the customer is never left waiting for something to happen. Customer Success solutions make that vision a reality.
Customer success goals must comprise customer centricity, encourage continuous and rapid improvement by investing in people and processes, and has to facilitate in deriving value for both the customer and the company. The scope of customer relationship management software is around creating value for customers and the company over a longer period of time. Customer Relationship Management strategy is about managing and monitoring the relationships and interactions with customers and potential customers in an organization.
In some organizations, CRM is merely a technology solution that extends separate databases and sales force automation tools to function as a bridge between sales and marketing functions in order to improve targeting efforts. CRM is not merely technology applications for marketing, sales and service, but it is rather, customer-driven, technology-integrated business process management strategy that maximizes relationships and encompasses the entire organization. Customer relationship management strategy leverages marketing, operations, sales, customer service, human resources, R&D and finance, as well as information technology and the Internet to maximize profitability of customer interactions.
Customer visits can be considered as the most practical tool for new product, service, or market development as it creates the most space to understand more about customer needs, wants, sources of satisfaction and dissatisfaction. While developing a product and even before you market the product it is critical to understand what our customers value and are willing to pay for.