A Complete Guide to Customer Data Platforms
Marketers have recently started realizing the importance of collecting and analyzing customer data to form business insights and deliver actionable insights.
Many companies face the problem of disconnected customer data. Indeed, it can be extremely time-consuming, expensive and difficult to piece together strings of data from multiple sources into an accurate story of what the information is telling.
Fortunately, Customer Data Platforms (CDPs) are here to solve this problem. CDPs can solve most of these problems that businesses face and give them a clear view of what they need to know.
There’s a lot to learn about CDPs, so let’s get started.
What is a Customer Data Platform?
Few digital marketers realize that a customer data platform is an important part of marketing until they see a competitor take advantage of it. It makes them think, what is CDP? A customer data platform is a unified customer database that provides the tools to organize data across different touchpoints.
It is a packaged software available to all other marketing systems as an end product. It helps your organization validate the importance of your customers in any marketing system.
The basic purpose of a CDP is to create customer profiles by generating data from numerous resources. It helps you form strategies that increase your conversion rate by evaluating the demands of your target audience.
The main job of a CDP is to convert data into centralized customer profiles. It would be helpful if you learned more about customer data before understanding a CDP. Customer data is the information that consumers leave behind when browsing the Internet. They leave behind clues for marketers to evaluate and generate content from.
All social media and software content is derived from search results and consumer queries across the internet. In summary, customer data allows marketing systems to thrive using its capabilities.
Capabilities of a customer data platform
Here’s how customer data platforms help sales and marketing operations.
- As a marketer, you can use CDPs for predictive modeling.
- Content marketing is also an important property of CDP implementation.
- It improves marketing performance.
- Uses integration of internal and external sources to generate centralized customer profiles.
- An identifier managed by the marketing manager that makes it easy to link and combine customer data.
- Enlarges the view for a better customer and consumer approach.
- CDP is ideal for building a segmented customer base,
- It also helps you evaluate your moves for a better customer experience on your website.
How to Successfully Implement a CDP
Some marketers believe that efforts to implement and generate CDPs are improbable and unreliable. But it happens when they focus on the wrong perspective. Here are some effective ways to easily implement CDP.
Set customer data goals
Focusing on data aggregation and integration is the main aspect of a CDP. for example, a customer data platform can easily point to dirty, uncleaned data from poor resources. Having a CDP indicating poor data quality is the last thing you need if you’re trying to score for a better customer experience.
It would be best to manage all the imported data professionals for the CDP implementation to be successful. If you encounter messy databases, you need proper tools to simplify data integration.
Determine all customer data sources
A CDP cannot be implemented without the right resources. Unlike knowledge, customer data platforms are not accessible automated processes. You have to jump through various hurdles for accurate data entry and integration. Keeping a good eye on the specified sources will help you better implement your CDP.
When you map specific fields for data mapping, it allows better validation for futuristic analysis. Since these platforms operate on customer data, it is important to research Integrated API in these platforms for efficient data exchange and transmission.
Check the status of your data
Keeping in mind the requirements of an external business partner or customer who refuses to share all of their data with CDP, you must make other arrangements for accurate implementation. In such cases, you may consider a hybrid solution for implementing CDP. In which, you will use additional data virtualization for complete data silo conversion.
Unify your data sources
Once you’ve defined your overall goals and managed your customer data sources, it’s time to combine them with the right approach. You don’t have a clear picture of all crucial data sources, and irrelevant information will lead to inconsistencies and an inaccurate view of your user’s experience.
Use computer support
No area of work can deliver the best result without a manager. For example, in the case of CDP implementation, you need an IT manager for support and tagging schemes in CDP. Overall, a CDP manager would be responsible for consistently executing programming for better onboarding and accurate generation of centralized customer profiles.