UsersSpot event based opportunities
Spot opportunities based on relevant events
It is a known fact that retaining and selling more to a customer is more profitable than acquiring a new one. With this in mind, the need was expressed within the organization to be able to:
- suggest relevant next best offers during customer contact;
- actively drive campaigns for upsell & cross-sell based on insights;
- identify early warning signals to identify customers that might be on their way out.
Goal is to drive business growth by focusing on the right customers with the right offering at the right time
“Easier said than done” when your company is using a custom built CRM as dedicated production system serving close to 100.000 customers while the company’s risk policy prohibits the adding of new functionality and processes which may interfere with the core processes.
The customer was looking for a way to build a data warehouse next to their current CRM to store all related data to create a complete picture of their customers. This data warehouse must:
- hold a collection of corporate information;
- contain data derived from internal operational systems and external data sources;
- support business decisions by allowing data consolidation;
- allow analysis and reporting at different aggregate levels.
The data is populated into the data warehouse through the process of extraction, transformation and loading.
How did we help?
Step 1 was to create a trustworthy foundation for clean data. A "golden master record" containing the cleaned & unified data about the Customers, Leads and other important Contacts. After extraction of the data from internal operational systems, we helped with the transformation with our all-in-one data cleansing tool:
- identify duplicate Accounts, Contacts & Consumers;
- assign a Master identifier for de-duplication;
- enrich with information coming from multiple external information providers.
Our customer consolidated the duplicates and deleted the ones no longer in use. Combined with the enrichment of identification data from external data sources it resulted in a dataset with a clean and consolidated view of Accounts, Leads and Contacts.
Step 2: Implement the Salesforce enterprise edition. To be able to update and enrich the internal data with data coming from external sources, the choice was made to use Salesforce as a data warehouse. Salesforce can easily be connected to the outside world via our Master data platform. The customer subscribed and together we set-up the system.
Step 3: Once the data warehouse was in place and the data was cleansed, consolidated and enriched it was time to upload the Accounts and Contacts together with the customer’s internal information.
Step 4: The final step was to add information from external sources to add additional context around Customers and Leads. Linking internal records to external data can be achieved through different unique identifiers such as the DUNS number, web domain or national id/VAT number. We finally connected 15 information APIs from different sources & suppliers.
With these APIs, computers rather than people manage the work. New information is fed into the system 24/7, such as e.g.:
- web information (key words on certain company website pages);
- Risk & financial information (change in credit ratings, filing of annual accounts);
- company hierarchy trees (change of ownership);
- real estate information (purpose of a location, m2).
The data is automatically updated and real-time triggers are sent out when changes relevant to the business occur in the market or within the customer base.
Customer data from different internal source systems is connected to the outside world. This presents a clean unified picture. This data is fed into the data warehouse (Salesforce) for reporting and analytics. Based on new insights and the continuous flow of information triggers, the customer is now able to spot opportunities based on relevant events. The focus on customers who are likely to need attention drives business growth and reduces churn.
To sum it up:
- reliable and clean dataset for analysis;
- updated 24/7;
- automatic flow of relevant triggers;
- focus on the right customers.
CRM teamleader, Service company
(Due to internal company policy the name is not disclosed)