In the wake of the pandemic, the commercial world is filled with uncertainty. Several businesses, including small to large scale, are constantly looking for methods to survive in this challenging period. More than ever, organizations are pushed to be more efficient and productive in landing lucrative customers and boosting conversation rates. These approaches will eventually lead to CDP Customer Success.
Leveraging CDP (Customer Data Platform) is one of the potential to support the objective. CDP acts as a crucial part of account-based selling, encompassing marketing, lead conversion, sales, and customer success.
Here’s a comprehensive insight into the various segments, including potential areas where CDPs can add value, key features, and the CDP maturity model.
With so many data tools available in the market, marketers may need a CDP for various reasons. Below are some of the common reasons organizations and marketers may need a CDP and how they can benefit.
CDPs are an innovative software solution that is creating a real splash in the marketing and sales sector. The CDP plays a significant role in collecting, unifying, and aggregating the consumer data available. This typically means that multiple data types across several touchpoints are gathered. The types of user data collected and organized are:
Unified Customer Data
A huge part of the marketers is currently responsible for synchronizing data from several sources and organizing it in a specific way that provides insights on customer behavior. A CDP takes the responsibility of automating the process and letting the marketers focus on creating effective marketing strategies.
Actionable Customer View
A CDP provides an accurate, comprehensive, and persistent customer profile that brings more engagement. It also organizes the raw data in a more actionable and meaningful way for marketers to make an efficient and informed decision. With an actionable customer view, the system minimizes inaccuracy, redundancy, and excellent services to maximize any marketing strategy potential.
Outbound Media Optimization
This CDP stage involves personalizing, triggering, and pushing messages to customers through owned media channels like direct mail and email other contact centers. Handling outbound media channels and optimizing them is the most sensible approach as they are proven to be an easy way to drive more responses and engagement.
Digital Media Optimization
This is the next stage where surfing the analyzing the first-party data, and defining the target audience occupies a significant role. These insights are then used to drive smart targeting of off-site and paid digital media activities. With real-time decisions and context on top priority, customer insights can drive more innovative activities.
Owned Media Optimization
Owned media optimization is all about boosting personalized real-time digital experience with respect to customer activities. It also supports in attaining a seamless integration between content marketing and eCommerce. The best example is dynamic merchandising based on on-site navigation, search terms, and conversion events.
This stage in the CDP model emerged through solid research. Over 91% of the CDP owners tend to integrate their eCommerce stores with their content hubs and prominent websites.
Cross channel orchestration is the next stage that brings together all the previous stages to deliver a seamless online and offline experience.
Advanced analytics is the final stage that brings a new level of sophistication, intended to increase the scale, speed, breadth, and precision of the marketing campaign. Segmentation and personalization are driven in real-time through artificial intelligence and machine learning rather than simple rules created by humans.
Stages 2 and 7 focus entirely on the data insights and analysis, while stages 3 and 6 are all about activation. Overall, these abilities make the CDP a most sought-after solution for deeper insights and enhanced abilities to deliver the best experience as an outcome. This was all about CDP Customer Success.