This means you’re never in danger of missing out on sales opportunities because the engagement process to make them happen takes place automatically. It also allows you to build a set of predictable sales processes that define trigger activities based on customer actions. Having a single view of the customer allows you to understand more about their needs - it allows you to offer products relevant to their circumstances, increasing opportunities to upsell services and insurance products more attuned to their needs. It’s worth the effort because creating a golden record has many benefits, of which, here are 4 key ones.Ĥ key benefits of creating a golden customer record 1. The quickest and most cost-effective method to achieve this consolidation, without requiring any additional hardware investment, is by inserting a managed data integration layer. The challenge of consolidating customer and product data comes when it is held in separate locations ERP, CRM, e-commerce, finance systems, etc. The result of consolidating all accounts of a single customer down to just one record is a golden record. To achieve a truly personal experience to support regulatory processes to maximize the sales opportunity of every customer, you need to see these separate records as one. LITTLE GOLDEN RECORDS YOU TUBE SERIESThe result is a series of disjointed service, sales and marketing actions that do nothing for your reputation as an insurance provider who puts the customer at the heart of everything they do. Another example is if client A purchased car insurance and, separately, medical insurance but because the records are not exact matches, you end up with multiple versions of the customer account. Disconnected domains store this information as though they were unrelated entities. Today, your customers are interacting with you across more platforms than ever with their data being stored across multiple system within your business.įor instance client A, who has life insurance, could be the husband of client B, who has critical health insurance. But first, if you’re not familiar with the term let me explain what a golden customer record is.
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