The digital age is all about customer identities which provides you information about your customers including who they are, what they like, where they reside, etc. Identity is the core of doing business which makes it must for businesses to manage it in such a way that it can serve maximum benefits. Did you know, as of 2014, there are around 3 billion online users and the number keeps growing with every passing year. The involvement of internet into our daily lives along with the convenience of staying connected with internet 24/7 hours, has allowed customers to connect with businesses using a single click to get whatever they want.
With the number of online users keeps increasing daily, it is the identity that helps businesses to identify individual user. The personalized experience is offered relating to the identity of the customers. With competition keeps increasing every hour, personalization holds the key to make your customers stick around and for personalization, identity plays the main role. Without identity you wouldn’t be knowing who are your customers and what they are expecting from you, thus you won’t be able to offer them the personalized experience.
Managing customer identities also helps you to have smooth functioning in between cross departments. You can align your business services to the customer identities resulting in a seamless experience. Businesses who are customer focused and manage customer identities efficiently are most likely to turn their first time customers into loyal customers. But for those who are still not serious about managing customer identities, it will become difficult to nurture their visitors into loyal customers and respond to queries.
Businesses are spending on digital marketing like never before. Did you know around 61% CMOs admitted increasing digital marketing spending from 10 to 11% from the total revenue but absence of customer identity will make all these efforts go in vain as you wouldn’t know whether you are targeting and reaching the right audience or not.
With personalization efforts become individually to convert end user into customers, the direction will be given by the digital identity of customers. The lack of customer identity, businesses will fail at strategizing and executing their programs. With the right customer identity management tool, businesses can easily create and manage customer identities and understand customers with the help of first party data and valuable customer insights. Customer insights help businesses to reach out to the right customers, at the right time with the right approach resulting in higher sales. Again, the importance of a CIM solution is not just limited to businesses, but it also makes the customer experience on your website smoother and hassle free.