A 360-Degree Customer View Fuels Retail Growth

Posted by Branden Jenkins, GM for Global Retail, NetSuite

Organizations with a firm understanding of their customer’s behaviors and preferences have a wealth of options for expanding their business and improving the bottom line, many of which we’ve outlined here before. We’ve cited strategies from using order management to improve the omnichannel customer experience, to organizing your commerce system around the customer.

But the fundamental requirement for any customer-focused commerce initiative is a clear, 360-degree view of the customer. As we’ve described previously, a unified commerce platform is the first step in achieving unlimited retail growth. Access to a 360-degree view of the customer is the second.

Being able to access one customer record across all channels and business models in real time allows retailers to obtain that often-elusive single version of the truth. Finally, marketers are able to determine the true lifetime value for every customer. It’s what makes accessing a 360-degree view of the customer one of the steps towards achieving unlimited retail growth.

Unfortunately for most, it’s a task not easily accomplished by a business with customer data scattered across multiple CRM, marketing and order management systems. For example, the largest distributor of dry cleaning supplies in North America has adopted NetSuite for both B2B and B2C ecommerce for its multiple branded sites, along with sales force automation, customer service and marketing automation.

Having a unified system has given them new insights into customer interactions across its websites and call center for better service, targeting and promotions.

According to its president, “If a customer is frustrated with your site, they’re gone and you never hear from them again. Delivering a superior experience from the beginning and gaining a single customer view are huge for us.”

For more on the five steps to create a customer-centric commerce experience that can power growth, download the free ebook below.



 

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