How to optimise the insights from your customer data platform
A Customer Data Platform centralises all of your customer data, from both online and offline sources – such as website, social, CRM, call centres and marketing costs – as well as capturing multiple device data. Such copious amounts of rich data empowers marketers to scale data-driven decisions across the customer experience.
Although other data solutions, such as customer-relationship management (CRM) and data management platforms (DMPs), do help companies centralise their data and manage segmentation, they lack the automated decision making functionality, and the ability to personalise at scale, that really make a CDP special.
This is where the Customer Data Platform differs, by acting as an operational solution that utilises your existing systems, it helps marketers identify their biggest problem areas, and accelerates their informed data-driven decision making.
But just having a Customer Data Platform is not going to make all the difference. Marketers have to be able to optimise their use of this platform to get the most out of it.
Here are 4 steps to making the most of your CDP:
1. Data foundation – Building a rich view of your customer
By ‘feeding’ the platform with different data sources, a Customer Data Platform is able to combine all your data, and produce a single customer view of your end-to-end customer journey. This granular detail can then be used to build meaningful customer profiles, based on behavioural clustering, which is accessible across your organisation.
2. Decisions – Mine data to identify actionable insights
The Customer Data Platform assigns customers scores based on their engagement and potential value to the company. Machine learning is then utilised to set rules that match customers to personalised messages, offers and experiences, in order of customer value and the likelihood of their engagement.
3. Design – Crafting the right experience
Take advantage of your advanced clustering by automating the correct content, to be pushed to the right customers, at the perfect moment. The real benefit of this comes from the ability to look at the customer journey as a whole, and understand how your crafted experience increases conversions. In contrast, other data solutions only enable you to look at marketing results through individual channel silos, limiting the cross-channel benefit your personalised content can have.
4. Distribute – Delivering a seamless experience
In the same manner, use your Customer Data Platform to power data-driven, multi-touch attribution; with the help of predictive models that determine how changing one channel’s marketing spend will affect other channels. The CDP also provides you with valuable insights which can be used to personalise your customer journey. Use machine learning and AI, to target the right customers at the right time, based on their specific interests and behaviours. You can also seamlessly integrate your platform with existing marketing software, from email automation to portfolio PPC bidding platforms. All of this ensures you are taking action to engage customers, and drive quantifiable results.
With the role of marketers becoming ever more reliant on data, it’s important to stay ahead of the curve. The Customer Data Platform empowers marketers to own their data, helping them accelerate their decision process and craft more personalised messages and, ultimately improving the customer journey. Following the above steps to optimise the use of Customer Data Platform will help marketers achieve these results.
If you would like to learn about Customer Data Platforms, contact us at firstname.lastname@example.org