“The aim of marketing is to know and understand the customer so well, the product or service fits him and sells itself.” – Peter Drucker defined in one sentence what a customer data platform truly allows marketers to accomplish. That is, a deep level of customer understanding that allows a product to be empathetically matched to a customer to the point that the product will “sell itself”. Marketers have always used the latest and greatest technology to develop a better understanding of their customers. Today marketers have to manipulate and transfer data through multiple platforms to try and systematically segment and target customers while also appropriately matching products that make sense for those customers. A true customer data platform solves these issues in a major way.
A customer data platform (or CDP) is a data management system that cleans customer data, connects customer data touchpoints, and combines those touchpoints into a platform that can easily be used by marketers to segment their customer base. At the same time, they can offer deep and meaningful personalization to the customer.
The idea here is to have a 360° view of the customer, but there has never been a data management tool that could live up to that need. Most customer segmentation and marketing automation tools focus on what to do with customer data. Customer data platforms focus on the data itself. If customer data is not clean and unified, marketers will find themselves trying to adapt their marketing tools to cover for data inadequacies that restrict a true view of the customer.
Customer data platforms are primarily used to integrate, clean and house first-party data. Historically, this data has been managed within multiple databases, making it impossible to create a unified view of the customer, or at the very least, requiring heavy technical lifting.
Modern markers are implementing increasingly more data-driven marketing strategies, however, that doesn’t mean they enjoy the data wrangling necessary to fuel those strategies. Marketers do not want to aggregate, clean, and combine data. They just want to use it. Despite all of the customer data solutions out there, none of them come as close to offering what marketers dream of like QuickPivot’s customer data platform.
A unified view of the customer comes from a unified customer database. Managing all of this internal data becomes extremely cumbersome on marketers, By the time they have made their way through all the data, it may be too late to implement a plan that would turn data driven insights into action. The unified database management aspect of a customer data platform alleviates this issue by allowing marketers to make data driven decisions that lead to timely and personalized customer interactions, ultimately increasing the lifetime value of the customer and the company’s ROI.
Superior customer segmentation means that the marketer can offer the most granular and targeted customer experience without having to continuously try and make customers fit into their predetermined molds. True customer segmentation is derived from the customer themselves. This means that marketers need a system that offers unified, and personalized data views. Well, guess what! A customer data platform is the marketer’s solutions to true customer data segmentation.
Marketers need the ability to make real time adjustments. They need to be able to implement data driven, personalized experiences, but they also need to be able to implement reactionary experiences based on live data and newly developed customer touchpoints. A CDP not only allows marketers to get closer to their customer and understand buying behavior, making it easier to personalize marketing communications and provide the right offers to the right customers.
If you would like more information on what a customer data platform could do for your company, sign up for a demo today. That really is the best way to see how your company could benefit from the implementation of a CDP.