The Single Customer View is dead, long live the Single Individual View!
Can we really access of all data we have on customers and make decisions on the fly. This paper discusses the types of data which is available and describes how the single individual view is emerging as the way forward.
Let’s look at two very simple, customer led, examples of the same scenario for a new customer, applying for a new credit card:
The customer was a previous customer who previously had a prepay card. They ended not using the card as they found it difficult to top up the card via a mobile device and ended lapsing as a customer.
- Customer clicks-through on a banner, based on a 0% balance transfer offer
- The customer re-navigates through the to the offer.
- The customer opens the 0% balance transfer offers and complete the application form
- Application form is received and customer approved
- Customer goes back onto the website to find out about progress of the card, and has to re-navigate through to the right page and login.
- Customer lost their login and rings the call centre, who do not know anything about the card application (as the application was made only an hour ago and their systems only update nightly.)
- Customer is frustrated as they want to make sure they are in and able to sign for the card
- Customer just waits and rings back. The call centre asks the customer who they are and what they are looking for, even after they have entered the information on in the IVR
- The customer is then transferred to the new cards team, who ask the customer the same questions
- The customer team ask for the customer’s address again to update their records as there was a mistake on the address
- The update is made and the card delivery date is then provided
- The customer has finally found out the answer.
Sound familiar? Surely it shouldn’t be this difficult?
How it could be then:
- Customer clicks-through on a banner offering 0% balance transfer.
- The customer is taken directly through to the offer page where they read through the offer.
- The customer fills in the application form. A warning is displayed confirming his address, as there seems to be a mistake, given past customer records. His mobile and landline number are pre-populated based on previous customer data, and asked for confirmation
- A SMS and email confirmation is sent to the customer with a link to a mobile app (derived from previous customer channel preference)
- Customer downloads the app and logs in. A status update is provided on the first landing page before the app tutorial.
So is this truly achievable? There are a lot of interactions happening here and some fundamental decisions being made.
The short answer is yes, but before we discuss how, let’s look at the key ingredients, the types of data we have to work with.