Customer Data Platform
Marketing experts agree: one of the most important business objectives is to continuously improve the customer experience. In the many industries where saturation has occurred and companies are fighting tooth and nail for customers, this objective is not difficult to justify. On the other hand, it has never been easier for customers to choose from a wide range of suppliers. A meaningful, personalized customer journey or experience can be a decisive factor in whether a customer remains loyal to a company or whether a potential customer becomes an actual customer. Delivering an optimum personalized customer experience should therefore be a top priority. The use of a Customer Data Platform (CDPs) is a good way to deliver a great customer experience.
From potential to actual customer
Today's customers assume that suppliers always know who they are, what their customer history is, what they want and, of course, expect this service all the time no matter what the sales channel. Reality is often different: few companies have so far succeeded in standardizing all of their customer data and channels in order to create an optimal customer journey. The problem is that the customer is only interested in having their expectations met. Unless this happens, they will keep on clicking and eventually take their custom somewhere else.
A Customer Data Platform – providing a consistent and uniform customer database
How can companies successfully design a cross-channel customer experience that results in a lasting customer relationship? The use of uniform customer data is crucial.
This data often comes from multiple, separate systems that have not been designed to share data. Unifying this data and combining it to create meaningful customer profiles is one of the basic functionalities of a Customer Data Platform.
CDP - data, decisions, delivery
A Customer Data Platform is a pre-configured system capable of querying customer data-handling systems via standard connectors, consolidating and standardizing the extracted data in a database and then using it for analysis, segmentation or promotional purposes. CDPs (especially Data CDPs) can also make this data available to other systems and communication channels for further processing. Standard connectors are normally available for data exports. These data transfers can take place in (near) real time.
Although some technical resources are required to integrate a CDP, they are not nearly as extensive as those needed for a typical data warehouse. This reduces time, costs and risks. The customer database integrated into the CDP from a variety of systems enables the marketing specialist to obtain a 360-degree view of each individual customer. Marketing messages can thus be delivered in a carefully targeted manner and their response behavior tracked and analyzed with great precision.
- Data collection. Individual customer data can be captured from multiple sources in real time and kept for as long as it is needed for processing.
- Profile standardization. Profiles can be consolidated at customer level. This includes associating several devices with a single person for multi-channel marketing.
- Segmentation. CDPs provide the ability to create and manage rule-based segments as well as advanced segmentation capabilities.
- Activation. CDPs have the ability to send the segments created for campaign or channel purposes to linked email systems in order to carry out email and other campaigns.
Do you have any questions about evaluating or integrating a CDP, or would you like us to delve deeper into the topic? Please do not hesitate to let us know!