For decades, corporations have struggled to achieve a 360-degree perspective of each consumer. Breaking down data silos and providing a consistent user experience continue to be top priorities. However, just a few brands have been successful in putting it into effect. According to a Forbes survey, it takes more than a week for 47 percent of marketers to analyze and quantify the efficacy of their marketing activities. Another 47% will take three to five days. That’s a significant window of opportunity for immediately improving a customer’s experience through effective CDP.

What is the purpose of CDP?

Customers today have high expectations of businesses. They’ve had good personalized service before, and you’ll need to deliver it if you want to maintain their competitive advantage. A unified customer experience across platforms, suitable recommendations, and personalized messaging are essential for today’s customers.

Only a few companies are capable of delivering these types of experiences. However, you have a problem if you can’t meet your clients’ high expectations. Customers who believe you don’t care about them will take their business somewhere – and they won’t return. It will be far more challenging to reclaim those consumers than to attract their customers in the first place.

This is why having accessible, well-maintained, and insightful consumer data is so important. And today, thanks to a good CDP, it’s doable. It’s just a matter of gathering the right information.

Significance of CDP

CDP’s goal is to promote intentional and complete communication, as well as follow-through and progress.

CDP is about more than a customer’s lifetime value’s longevity. It’s also about how your company uses its mission to attract customers, impress them, engage them, and generate active growth through referrals and word of mouth.

Create detailed customer profiles to discover clients who are primed and ready to participate in referral programs, as well as those who aren’t and where the most significant differences exist. To address those differences, you can develop marketing strategies and programs and a robust and predictable client retention funnel.

A CDP can deal with the following sorts of data:

1. Events: Behavioural data generated by a user’s actions on a website, in an app, or on a mobile browser during a session.
2. User Attributes: Names, addresses, phone numbers, birthdays, and other personal information are examples of customer qualities. Machine-learning-powered predictions, such as likelihood to purchase, can also be stored in advanced CDPs.
3. Transactional Data: Purchases, returns, and other information from e-commerce or point-of-sale systems.
4. Campaign metrics: These data include engagement, reach, impressions, and other campaign-related analytics.
5. Customer Service Data: Live chat data, quantity, and length of interactions, frequency, NPS scores, and other data from CRM systems are all examples of customer service data.

The Advantages of a CDP

There are various advantages to using a full-service CDP:

1. Data-driven Customer Engagement: Using the correct CDP, marketers can gain access to previously unavailable data—this aids in the segmentation and customizing of their audience.
2. Campaign Measurability: Growth marketing teams can generate the correct KPIs for acquisition, conversion, and customer attrition using a 360-degree customer experience perspective. It assists them in identifying methods to strengthen their marketing campaigns.
3. Improved ROI and Competitiveness: Knowing which activity, channel, and time to reach customers is the most effective way for marketers to stay ahead of the competition. They can better budget and cost-optimized campaigns for a higher return on investment.

Service Environment Applications

Patients and customers are expecting more personalized and relevant experiences from service-oriented businesses. The CDP-powered omnichannel strategy may significantly affect the consumer or patient experience while also increasing engagement and loyalty.

Some instances are as follows:

HealthCare

CDP is becoming a differentiator in how effectively healthcare firms can connect patients and inspire healthy behavior as they embark on omnichannel journeys. Providers may obtain new insights from data using digital tools in CDPs and design comprehensive customer experiences that make it easier to select health plans, book appointments, fill prescriptions, connect with practitioners, and stay on track with wellness from any device or channel. Data can be used to tailor and improve the journey, such as providing reminders to patients to take their medications on time. CDPs will be critical in capturing disparate data from various points along the healthcare consumer journey.

When it comes to health decisions, consumer journeys and interactions are far more complex than retail, and the stakes are considerably higher. However, CDP technology can create significant improvements in the customer experience and substantially influence consumers’ lives, whether through cost savings or preventing a trip to the emergency room.

Travel and Hospitality

Let’s take a closer look at using the CDP application in the Travel and Leisure business for a family planning a vacation cruise. Certainly, using CDP technology, the cruise line can deploy and track omnichannel marketing outreach and log possible interests and questions. When a family joins up for a trip, the platform sends a welcome kit by mail and email, as well as an invitation and instructions for installing the cruise line’s mobile app. Similarly, the web and mobile app provide links and videos about what to expect on the cruise, what documents/passports are required, and what to pack. Daily countdowns and entertaining details are used in proactive pre-trip mailings to promote excitement.

When traveling, the family can use the mobile app to keep track of events, destinations, and positions via GPS and link maps and activities. Attractions promote themselves at important times leading up to and at destination locations. Friends and relatives can use the smartphone app to hook up in groups and track their activities. Pre-payment and discount offers are possible with digital payment services. The loyalty program and digital payment encourage customers to plan their next voyage. Business intelligence analytics reveal which services are most popular and by whom, allowing for more personalized encounters. Overall, the personalization and timeliness of these omnichannel communications add value to the cruise line while providing a great customer experience.

Use Cases 

1. An online-to-offline link

To construct an accurate client profile, combine online and offline activity. When customers enter a physical store, you can recognize them based on their online activity.

      2. Segmentation & Personalization of Customers

Customers should be segmented based on their behavior (RFM, LTV forecast) and then given a customized, omnichannel experience throughout their entire customer lifecycle.

      3. Customer Predictive Scoring

Predictive data can help you enrich your client profiles (probability of purchase, churn, visit, email open).

      4. Lookalike Advertising & Smart Behavioral retargeting

You can use insights from research to launch robust acquisition and retention (lookalike) campaigns outside of your website, thanks to integrations with Facebook Ads, Google Ads, Analytics, and Doubleclick.

      5. Recommendations for Products

Create and deploy different suggestion models such as “similar items” or “customers also bought” to promote engagement, enhance brand loyalty, sell, up-sell, or cross-sell your products or services, and give the most incredible shopping experience.

      6. A/B Testing and Conversion Rate Optimization

Transform the look of your pages in a matter of seconds. To boost your ROI, use our smart website overlays or send cart abandonment emails. With the automatic A/B testing feature, you can create several designs and see which one performs better.

      7. Automated Omni-Channel Marketing

Personalized and timely messaging sent to your consumers’ preferred channel will dramatically improve your chances of acquiring and keeping a loyal client throughout the customer lifecycle.

     8. Improving Email Deliverability

Increase the number of people who open their emails. You may utilize an AI-powered system to calculate the best time to send emails to each user based on their email opening patterns and then reach out to them at that moment.

     9. Review Enhancement

Personalized omnichannel communication and NPS survey analysis can help you get better and more online evaluations from your customers.