7 Key Benefits of Identity Resolution
According to Gartner survey 81% of marketers expect to compete mostly (or entirely) based on customer experience, this is up from 36% in 2010. With data growing exponentially, 90% of the online data has been created in the past two years; it would be easy to say that it is a data jungle out there. Marketers have come to realize that their consumers are interacting with the business using various devices and channels, leaving behind different identifiers. They are also maneuvering between multiple devices, touchpoints and screens. This poses one of the biggest challenges to get insights from fragmented data, to engage with their consumers in real-time. To deliver a memorable customer journey experience, they (brands) need a unified, reliable, and real-time single source of truth to uncover actionable insights for in-the-moment engagement. The best way to do that is through an identity resolution management, like Reltio Identity 360.
Reltio Identity 360 is, therefore, the base for uncovering insights – to connect data to profile ever so succinctly with connected graph technology, organizing it by consumer relationships and interactions (with the brand) converting them into actionable insights. It gives you the means to implement an identity resolution strategy by connecting multiple identifiers across devices and touchpoints with data points collected along the way in real-time. This, in turn, allows you to build a connected, omnichannel consumer experience, so your brand can reach the consumers when and where they are most likely to engage along the sales funnel.
The time to capture loyal customers with exquisite experience is now, and Identity 360 opens many avenues for companies to improve. Leveraging the benefits of identity resolution (ID resolution), Identity 360 empowers your brand with clean, connected, consolidated data. The opportunities are endless when it comes to maximizing the benefits of an identity resolution like Reltio Identity 360.
1. Single Customer View = One Person = One Profile
ID resolution aggregates, refines, reconciles, and relates identity data from hundreds of sources to create a single source of truth for any person profile (customer contacts, consumers, clients, patients, employees), allowing marketing to know who they are engaging with. This single customer view streamlines the collection of data points for each individual customer. It also enables the brand marketers to continuously improve and update their knowledge of the consumer to be used organization-wide in all business units as well as product lines.
2. Personalized Customer Experiences = Greater Revenue
In a world that has become exclusive and particular where 66% of consumers expect personalized consumer engagement. Identity 360 provides one trusted customer profile across all channels and applications, allowing brands to personalize omnichannel customer engagement for better customer experiences and greater revenue. It allows companies to connect with more customers at more key moments, establish policies and procedures for effective action on customer feedback, and invest in core capabilities needed to collect and act on feedback.
3. Happy Employees = Happy Customers
Identity 360 empowers your customer-facing employees to deliver exceptional experiences across channels with unified customer profiles. They did not have to scramble with fragmented customer data across functions, channels, regions, and systems to get trusted information to serve or delight the customer in-the-moment. The business impact is higher client satisfaction scores, reductions of 10% to 20% in cost-to-serve, revenue growth of 10% to 15%, and increased employee satisfaction.
4. Know Each Person’s Network = Trust = Growth
People don’t live or operate in isolation, in fact, 92% of consumers believe suggestions from friends and family more than advertising. Understanding relationships and hierarchies across people and households provide you with a complete picture of how an individual customer – network, products, services, and more related to one another. Identity 360 helps you identify your influencers, your actual user in the households, and new opportunities to sell and serve.
5. Focused View For Each Function = Organization Growth
Identity 360 allows dynamic and contextual profiles to filter out the noise to help functional groups such as marketing, sales, service, and support find the insights they need to make fast data-driven decisions.
6. Contextual Marketing = Efficient Spend = Hit Your Targets
Identity 360 enables direct-to-consumer contextual marketing increasing business agility giving high conversion rates and a better return on marketing investments. Overall, it helps make the value chain efficient, improving sales and sales ops productivity, thus increasing sales and reaching the targets.
7. Governance = Simplified Compliance
The most effective way for companies to ensure security and compliance with regulations such as GDPR and CCPA is at the very beginning of the customer experience relationship. With Identity 360 brands can set policies to enforce stringent standards and rules on data coming from external systems. They can simplify compliance by using Reltio’s Identity 360 to support GDPR and CCPA regulations. Brands can also reduce risk by accelerating their ability to detect fraudulent transactions with a single source of truth for customer data and their transactions across channels.
Unlock a complete 360-degree view of consumers = Get Identity 360 NOW!
Customer experience is now a top priority for businesses. And, a single person’s identity is mission-critical for happy and loyal customers who love engaging with your brand. Reltio Identity 360 can help companies make better and faster decisions with consolidated, clean, and connected profiles. Get Identity 360 for free, start immediately, and scale up as needed.
Reltio Identity 360 is available in free, premium, and enterprise 360 packages. See our package and pricing to select the option based on your business needs. Soon enough your brand will be experiencing the benefits of identity resolution and achieving a connected consumer experience in your omnichannel marketing campaigns.
