Microsoft Dynamics 365 Customer Insights: A holistic approach to stop customers from abandoning you
In their presentations at Microsoft Inspire 2019, Shruti Shukla (Sr. Product Marketing Manager) and Satish Thomas (Head of Product, Dynamics 365) delivered a unique perspective of the power of Dynamics 365 Customer Insights to turn your Dynamics 365 into a comprehensive customer service solution.
Customers’ expectations for quality experiences have reached an all-time high, with a shift in power in the market away from companies and brands, towards the customers themselves. Nowadays, you don’t just want to buy ? you want to be entertained. The dry act of buying should be enhanced by personal added value and experience.
- 91% of consumers prefer brands that remember them and their buying behavior and offer relevant offers and recommendations. (Source: Accenture)
- 81% of buyers want brands to submit completely to their needs and find the ideal time to contact them autonomously. (Source: Accenture)
In short, customers expect a seamless and integrated experience when interacting with brands and companies. Unfortunately, the reality is often quite different:
- 65% of customers are frustrated with inconsistent experiences across all channels. (Source: McKinsey)
- 74% of customers are frustrated with the irrelevant content they are exposed to on websites. Up to 40% of them jump off. (Source: Accenture)
- 61% of customers stopped doing business with at least one company last year due to poor experience. (Source: Accenture)
It is therefore not surprising that customer experience is one of the main priorities and key investment areas when it comes to digitization. Here, digital transformation provides many innovative tools and technologies for collecting, evaluating and using data. In this way, customer behavior can be evaluated and understood across all channels. The result is a highly personalized and targeted customer experience.
Customer Data Platforms: Activate data and gain insights
Customer Data Platforms form the ideal basis for this. Here, customer data from all possible channels flows together and can be further processed via apps to gain valuable insights into demographics, transactions and customer behavior. And all this in a single platform that promises an average revenue increase of 5-10% and a cost reduction of 15-25%, according to estimates by McKinsey.
Dynamics 365 for Customer Insights
Dynamics 365 for Customer Insights enables every company to unify and understand its customer data for intelligent insights and forecasting.
With Customers Insights you can:
1. Eliminate data silos and unify customer data
- Unlock and unify all your customer data from all sources.
- Create semantically comprehensive and cleansed data.
2. Take advantage of powerful AI & Insights
- The data density around the customer entity enables the best AI/Insights/KPIs.
- Accelerate the process with quickstart templates.
3. Enrich your customer data with Microsoft’s proprietary signals
- Enhancement of customer data with high-quality signals from Microsoft (e.g. Office).
4. Strengthen your business processes
- Use customizable profiles and segments to drive business processes.
- Enable to build LOB experiences through the power platform.
Want to learn more about Dynamics 365 for Customer Insights? Contact us today for more information and advice.