Top Tips to Optimize Your CDP Platform
An ideal Customer Data Platform captures data from both online and offline sources. It can capture data from websites, social media platforms, CRM, call centers, and mobile apps to name a few. A plethora of data enables marketers to make data-driven decisions throughout the customer journey.
However, even though other data solutions such as customer relationship management (CRM) and data management platforms (DMPs) can centralize data and segment them, they don’t provide capabilities such as automated decision making and personalization that CDPs offer.
Customer Data Platforms differ in this regard. In addition to acting as a tactical solution that leverages your existing systems, it can assist marketers in identifying their most significant challenges and accelerating their data-driven decision-making.
Even so, having a Customer Data Platform won’t ensure success. Optimizing this platform is key to getting the most out of it.
Optimizing a CDP to its fullest can be done in four steps:
1. Rich customer insights – Building a data foundation: Customer Data Platforms create a single customer view based on the products and services your customers consume after feeding them all the information they need based on various data points collated from different sources. By leveraging behavioral segmentation, you can then construct meaningful customer profiles accessible across your entire organization.
2. Decisions – Adopt an actionable approach to data mining: Customers are assigned scores based on engagement, relevance, and value. After that, machine learning sets rules that determine which messages, offers, and experiences to send to customers based on their value and likelihood of engaging. You should mine and feed the CDP with the right and relevant data to get the best out of it.
3. Design – Crafting the ideal experience: Automate the appropriate content to push it at the perfect time to the right customers using your advanced clustering technology. By doing so, you can see how your crafted experience increases conversions by looking at the customer journey as a whole. On the other hand, other data solutions only allow you to examine marketing results through the lenses of individual channels, limiting the effectiveness of your personalized content across channels.
4. Distribute – Improving user experience at every step: You can use the Customer Data Platform to support data-driven, multi-touch attribution using predictive models to forecast the impact of marketing changes on multiple channels at once. You can also use the CDP to personalize your customer journey based on the insights you obtain from it. Using machine learning and AI, you can target the right customer at the right time, based on their particular interests and behaviors. Besides integrating with existing marketing software, your platform can also integrate with PPC platforms for portfolio bidding. By implementing all of these strategies, you ensure that you engage your customers and drive positive results.
How Can a CDP Help You Upscaling Your Business?
According to Gartner, despite the increasing competition between companies for maximum personalization, 74% of marketers struggle to upscale their customer interactions due to personalization issues.
All the client data from the Customer Data Platform is integrated into one program and is managed easily by the platform. The information of each customer is separated into segments and assigned an ID number. CDPs are capable of:
- # Obtain data from any source;
- # Gather the data in all its details;
- # Infinite storage of the data;
- # Personalize it by creating profiles; Other systems can access the data
Thus, the CDP creates a ready-made customer database, so it’s easy to see customers as individuals, not just numbers. Improved technological processes allow us to establish relationships with our customers, putting trust and relationships back at the business center. Ultimately, the end-users matter most and the people we should be attempting to reach and connect.
The Final Thought
Marketers must stay ahead of the curve as it becomes increasingly important to rely on data. By letting marketers own their data, the Customer Data Platform helps them improve the customer journey by improving their decision processing and crafting personalized messages. The steps outlined above will help marketers achieve these results by optimizing the use of customer data platforms.