The Rise of Robust Customer Data Platforms – Making Data Marketing More Efficient

    Customer Data Platforms

    For data-driven marketing, getting the martech stack right can open the door to transformational customer experiences. An ideal martech environment is where a unified foundation and data framework ties all platforms together, and the entire business can benefit from the real-time informed insight.

    Consumers today create a mound of data and digital footprints than ever before. But, having a lot of data doesn’t always translate into gaining a lot of insights. Quite often, the data is not compatible or represents the experience of customers across different channels.

    The inability to utilize data makes it difficult to communicate the right message to the right customer at the right time. With data spread over multiple silos, it’s becoming a mammoth task for marketers to wade through different pools of data to access the information they need.

    Customer Experience is the new marketing battlefront. To get a 360-degree view of the customer and provide a better customer experience, companies needed a system that can accumulate data in one place and normalize it. It should also allow them to use it across different touchpoints. This is where the customer data platform (CDP) comes in.

    Also Read: How Data Analytics and Content Strategy Can Drive Effective Marketing Campaigns

    The Advantages of CDP

    The customer data platform serves as a single point of truth for customer information. They scrub the data to deliver a clean and unified record and make that data available to the marketing department and other stakeholders. This, in turn, helps create a more personal and relatable marketing campaign and deliver unique customer experiences.

    Marketing leaders believe if businesses want to create marketing campaigns that improve customer experiences, and then customer data platforms are something they need to consider right away.

    A customer data platform is like a supercharged CRM. It doesn’t just help businesses engage customers; it helps engage them in a meaningful way. Likewise, it is not just a content delivery platform; it makes content delivery much more personal and effective.

    Most CDP vendors offer solutions that can address several common challenges. Most CDPs support standard connections for source systems such as CRMs and marketing applications to collect and merge customer data from offline and digital sources and support data integration. Customer data platforms help expose data to other systems, including customer engagement platforms and customer analytics.

    Furthermore, the streamlining of data helps operations as there are fewer bottlenecks for data updates and regulatory issues.

    The Future of CDP

    If you look at customer data platforms today, getting that 360-degree view of the customer is great, but there is a lot more that can be done. The fact that there is a unified data view of the customer makes it effortless to leverage AI.

    Also Read: Is there a True Need for Purpose-driven B2B Marketing Campaigns?

    Using machine learning or AI to process enriches the data for insights, making it easier to make decisions across the company. This is especially invaluable when it comes to providing the top-notch experiences that the customers expect today.

    As with any new technology, there will be some growing pains in getting the technology right. Nonetheless, most business leaders agree customer data platforms need to be a must-have as the industry continues in this age of data and customer experience.

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    Prangya Pandab
    Prangya Pandab is an Associate Editor with OnDot Media. She is a seasoned journalist with almost seven years of experience in the business news sector. Before joining ODM, she was a journalist with CNBC-TV18 for four years. She also had a brief stint with an infrastructure finance company working for their communications and branding vertical.