Get more out of your marketing stack with a Customer Data Platform (CDP)
Do you really know who your customer is and what he needs? And so where do your opportunities lie? Recent research by the DDMA shows that only 20% of Dutch companies think they have a complete picture of their customers. While more and more companies indicate that they make decisions based on data, only 12% of these companies appear to be able to make the right data available to their employees in an easy way. How complete is your customer profile and can you convert the data you have into concrete actions?
The question is: how do you get the most out of your customer data and marketing tools that you already have and how do you create a customer profile that is always up-to-date and updated in real time.
The marketer's tools
What tools do you have at your disposal as a marketer? Most marketers have a number of more or less standard tools that work together to a greater or lesser extent. This is made clear with this model from Gartner: In doing so, they provide insight into the tools that marketers use in four quadrants, which sometimes have some overlap.
- The collection of tools starts with Customer Relationship Management (CRM); The CRM mainly contains demographic data of your customers.
- Campaign Management System. In this often email marketing related software you will find data related to the behavior of your customers.
- You will then see the personalization system of the website or webshop. That uses the behavior of your website visitor at that moment to show him personalized content.
- The data management platform (DMP) in the last quadrant can be found in your organization's advertising domain. This allows you to target potential customers without knowing exactly who they are.
Overlap is not yet an overall picture
Sometimes there is some overlap between the systems concerned. Or do they offer the possibility to export data from one system to another. Only: these import and export functions take a lot of time and are not always reliable. And because not every system has this functionality, you have to be creative with your data to get the most complete picture of your customers.
How do you create a Single Customer View?
We call a complete picture of your customer a Single Customer View or a 360-degree customer view. You can try to create that, for example by exporting your data for each campaign or offer to an Excel list and then segmenting it from this list. However, the risk of errors is high with this method and it is not the most efficient use of time. Another option is to purchase an Enterprise Suite that completely replaces your current marketing stack. Since you have to pay for every single module within such a system, these Suites are generally quite pricey. In addition, the interaction between the various modules does not always run smoothly, so that the entire Suite is experienced as user-unfriendly and cumbersome. Then there is only one other option left: you purchase a Customer Data Platform (CDP).
What is a Customer Data Platform (CDP)?
A CDP is an operational system that processes customer data in real time and converts it directly into actionable and targeted information. This data is available for all client-facing systems. For example:
- Social media
- marketing automation
Also, based on customer information, a Customer Data Platform easily creates segments for different service and marketing goals.
Turbocharge your marketing stack with a Customer Data Platform
By linking a Customer Data Platform to the marketing software that you already use as an organization, you basically put the turbo on each of those systems.
Take control of your CRM
For example, you can combine behavioral characteristics from your email marketing software with the data from your CRM, which is very funnel-driven. In a CRM you can normally not lose this information and you can certainly not control other systems from your CRM. This is possible with a Customer Data Platform.
Micro-segmentation in your Campaign Management
The same goes for Campaign Management, where in the profile you only have information from the relevant system at your disposal, such as: 'what do they click on?' and 'which emails do they open?' add. For example, think of information from your customer service system or your transactional system, but also your cash register system if you have a physical store. This information is also added to the profile in real time, allowing you to apply micro-segmentation in your campaign management.
Really personal content in your webshop
Personalization of your webshop is also becoming a lot more accurate. Does the Customer Data Platform recognize the visitor? Then it can use the profile data to show truly personalized content or make recommendations.
Save on your ad spend
When it comes to your advertising options, a Customer Data Platform will help you reach your target audience much better. In this domain you are of course very busy with the unknown, but by making smart use of lookalike audiences - which are based on certain profile characteristics - the chance that your ads will convert is much higher. In addition, you save considerably on your advertising budget by excluding existing customers from showing your ad.
So you see, by working with an up-to-date customer profile compiled by your CDP, your marketing becomes a lot more effective. After all, you put your customer at the center of all your communications and on all your channels.
Would you like to know more about the possibilities of our Customer Data Platform?
With a Nominow CDP you will be ready for your first campaign in a few weeks. Without saying goodbye to your current marketing tools or making major investments.
Want to know more about the Nominow Customer Data Platform? Then download the product sheet below. Or make an appointment directly for a consultation.
See our cases
An award-winning data-driven experience for the FC Utrecht fan
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