This is a fair question. Let’s solve the new age dilemma of whether your brand should invest in a Customer Data Platform (CDP) or not. Marketers often hit a roadblock on whether to invest in a CDP when they have already spent a considerable marketing budget on other technologies. This is a fair evaluation which brought us to validate the existence of a CDP and it’s in the larger Martech Stack that you own.
As long as marketing data lives in siloed containers, you cannot call it full-fledged. Data interoperability is fundamental to get your marketing systems to start breathing and living. While you may have built your Martech stack from bottom up, it won’t start talking to each other until there is a central brain guiding it.
Here are some links that will help you familiarize with the fundamentals of a Customer Data Platform:
- Why every Enterprise needs a CDP?
- Real-time Integration of Customer Data With Your Marketing Technology
- Top 8 questions to ask your CDP vendor
Here is how you a Central Brain starts working for you, instead of you working for the MarTech Stack.
Unified customer identity.
A CDP creates a 360 degree profile of your customer. It stitches their behavior by gathering a multitude of data points across various touch points in the user journey. This helps a marketer change the strategy or course correct using the updated and enriched customer profile. This can further assist with the decisioning and activation of the marketing campaigns.
A CDP Enhances Customer Experience
When you know who you are targeting, you would know more about what they are looking for. This simple insight can be drawn from a unified omni-channel view of first party customer data As marketers, you are empowered to activate the data for real-time customer engagement. Additionally, intelligent personalization and automated delivery contributes to an enhanced customer experience.
Get Demand Sensing and Inventory Visibility with a CDP.
Every branch and line of business needs data. CDPs can offer use cases beyond marketing, data, and analytics. We have witnessed examples of organizations who also use our platform for customer success, sales, new product development, and inventory management.
Get your systems to talk to each other despite the existence of both, structured and unstructured data. If you have Data Lake, a CRM, and ad platform integrations, imagine the combinations in which data can be sent to you. Instead, you can standardize data and push into a central system such as a Customer Data Platform.
Learn more about how to employ a Customer Data Platform with your existing Martech stack to unify and normalize first-party customer data, improve data accuracy, target relevant leads, and market personalized campaigns makes it very important.