Treasure Data: The Future of Customer Centricity
When I came back to Treasure Data as CEO in June of 2021, I articulated a new vision to our team. Previously as CTO I had noticed the potential for customer data platforms (CDPs) to unlock the power of customer data across the entire enterprise. I’m excited, today, to be publicly announcing the first step toward that vision, and the first of many solutions that will help teams like Service, Sales and others shape customer centricity across their entire company.
We live in a world where businesses have more digital interactions with their customers than ever before. Since March 2020 a huge shift occurred and a new age is upon us—it’s the Age of the Digital Customer! Customers are now, more than ever, interacting with brands digitally. Many organizations have been forced to take a giant leap forward in their digital transformation, many making what would normally amount to five to ten years of progress in just a few months. The growing pains are substantial for this type of acceleration, but so are the opportunities for the businesses who do it right.
What does it look like to “do it right” in today’s fast moving, high-demand online environment? Consider the following:
- Nearly 80% of American consumers point to speed, convenience, knowledgeable help, and friendly service as the most important elements of a positive customer experience.
- 63% of customers say they would share more information with businesses who provide a great experience.
- 86% of buyers will pay more for a great experience.
The key to customer-centricity now and in the future is to truly know and understand your customers, and then to use that knowledge to build business strategies and personalize every single interaction so that each customer feels like the one and only.
As with many aspirational trends, this is much easier said than done. The business executives that I speak to daily are eager to meet the moment with a truly exceptional, customer-centric experience, but they’re blocked on many fronts by things like:
- Chaotic customer journeys that cross channels, devices, teams and systems
- Siloed technologies that are optimizing within the limited boundaries of that technology, creating a disjointed and dissatisfying experience for everyone
- Increasing security, privacy, and data governance requirements limiting usage and availability of data
These are no small challenges. The good news is that the solution to each of these challenges is actually the same thing—reshaping customer-centricity with the power of data to drive exceptional experiences. To make it happen, businesses need a new infrastructure layer of customer data that is scalable, smart, and open so it can serve every team, every system and every customer, enterprise wide.
At Treasure Data, we’re thrilled to be taking the promise of a customer data platform (CDP) enterprise-wide, beyond the traditional marketing applications. Previously, we’ve given marketing organizations the solutions they need to personalize in real time, analyze and optimize their strategies and manage global consent and privacy. Now, we’re expanding our vision of customer-centricity through data to include CDP solutions for Service, Sales and more.
We’re motivated by results like the ones we’ve been seeing at customers like global beverage leader Anheuser-Busch InBev, who wanted to dramatically improve customer centricity across the over 40 countries it operates in. Our solutions have helped the company centralize its customer data, which has empowered its teams with critical insights leading to better experiences and more secure data governance.
The applications for one, unified source of customer data are endless and we’re proud to envision and act on those with leaders like Subaru, who is unifying its entire customer journey from digital touchpoints like its website, emails, and advertising, to its showroom floor and service center. By unifying these previously disparate pieces of data, Subaru is now able to power each conversation, to predict which customers are ready to buy, which car model is the best fit, which service is needed and how and when to communicate with them.
Stories like Anheuser-Busch InBev and Subaru are certainly incredible. The best part is that we’re really just getting started. The entire Treasure Data team and I envision a future where the one, smart customer data is an enterprise-wide infrastructure that unites every single team, system and tool, empowering a truly efficient customer-centric machine to drive leading businesses forward into the future.