Customer Data Platform (CDP) is a term that’s been around for a few years now, but it’s only recently that it’s become more mainstream. A lot of brands have started using them, but not all brands understand why they need to use this technology or how it can improve their customer experience.
- What can happen if you don’t use Customer Data Platforms?
- Why use a customer data platform?
- Find out who your customers are.
- How to deliver the best customer experience.
What can happen if you don’t use a Customer Data Platform?
If you don’t use a CDP, your ability to connect with, understand and personalize your customer experience is limited. Instead, you need to make informed decisions about the direction of your business and how best to grow it.
You won’t be able to:
- Understand the journeys customers take across their lifecycle with you, from the first touchpoint to retention and advocacy.
- Attract new customers by understanding who they are, what makes them tick and what they want from you.
- Personalize their journey through every channel – email marketing automation tools like Mailchimp or Hubspot work well for this but aren’t designed for real-time matching of information from multiple sources (CRM data, website visitors, product catalogs etc.).
Why use a customer data platform?
A customer data platform provides a 360-degree view of all your customers and prospects, allowing you to understand who they are and how to best engage with them. It also helps businesses deliver the best customer experience for each individual, increase revenue, reduce costs, improve customer loyalty, and more.
Find out who your customers are
It’s no secret that understanding your customers is key to growing a successful business. A customer data platform (CDP) will give you insights into their behavior, preferences, demographics and interests. It also gives marketers a complete view of each customer, so they can make smarter decisions about where to spend their marketing dollars.
Real-time CDPs allow marketers to see what each customer has purchased within the past few hours or days — providing valuable context for sales reps when they have conversations with them on the phone or in person.
Adobe Real-Time CDP professionals say, “Understand and act on your customer intent in seconds.”
How to deliver the best customer experience?
You can use real-time customer data to deliver a better customer experience.
- You can use real-time data to make better decisions. For example, you might want to personalize the offers you send customers based on their past behavior and preferences, or you may want to know when they are most likely to respond so that you can reach out at that time instead of wasting marketing dollars by sending emails during non-optimal hours.
- You can use real-time data in order to reduce costs by avoiding overproduction and underutilization of inventory and resources such as labor and equipment. This could mean lowering production costs by reducing waste or outsourcing labor through telecommuting programs while maintaining quality standards; increasing revenue by improving product sales with targeted promotions; using predictive analytics in order to avoid potential hazards such as equipment failure before it happens; etc.
CDPs are the future of marketing, and it’s time to get on board. If you want to know more about how they can help your business, read more blog posts on this topic online.