Multinational organizations often confront ambitious proposals for global CRM rollouts that promise to power their marketing ecosystems. These proposals are typically rebuffed by difficult questions around ROI or are prematurely terminated owing to reactive corrections of marketing strategies.
Others, that manage to clear the budget approval and allocation viability gates falter in selling their global vision to their local counterparts. The few who hit the finishing line often struggle to assimilate the massive amounts of consumer data and its implications. These organizations cave in under a self-fulfilling prophecy of “big data cannot be tamed.”
The few who excel in justifying their investments have probably paid close attention to the following consideration in their CRM strategies: Is a “Single Consumer View” your holy grail?
Every marketing organization aspires to have a single view of their consumer — to track interactions across channels, identify behavior patterns and build correlations to influence multichannel strategies. “The insights that every tracked consumer engagement can provide, is like gold-dust,” they claim.
This carries an implicit assumption that all consumer-led interactions — voluntary or involuntary — have a strong bearing on their purchase behavior. Given that consumers themselves are unaware of their numerous engagements with brands and their touchpoints, it's safe to say this assumption is false. In addition, consumers often vacillate at all points in the fabled purchase cycle, and interpretation of this behavior at face value leads to contradictory insights.