Why integrating customer data is key for a future-proof Martech stack.
CDPs are the missing piece to unify your Martech's scattered Data
If your customer data is scattered across different solutions and departments, you’re unable to track customer behavior across your channels and touchpoints. This is a serious problem if you’re looking to better understand what drives your customers, and don't know where to start to deliver the experiences your customers expect. This how-to will highlight the most important steps to take in order to ensure your Martech architecture is future-proof.
According to chiefmartec.com, the average enterprise uses up to 91 marketing technology, or Martech, tools.
Martech stack produces a lot of valuable (yet siloed) data. In many cases, the value of one system’s data shines the most when it’s combined with that of another platform (instead of remaining siloed). For instance, tracking the progress of a lead who opens an email becomes infinitely more interesting when you find out in your CRM that the lead is now a closed-won opportunity.
According to a 2020 Gartner Marketing Technology Survey, marketing leaders reported leveraging only 58% of their Martech stack’s potential last year.
This stats highlights the problem that many CMOs suffer: limitations created as a result of the data silos across their disconnected Martech stack.
So, how can I future-proof and get more potential out of my Martech stack?"
To get more potential out of their Martech stack, leaders need to look at solutions capable of integrating the data generated by the stack to enable getting deeper insights and eliminating data silos. This will allow organizations to further develop their digital maturity and use such as automation, personalization, etc.
Recognize that your Customer Data is scattered
When businesses lack an overview of where their data is, most people try to expand the features of their existing systems beyond their actual capabilities and miss out on valuable insights.
This happens because:
Companies don’t really understand what’s causing complications in the customer journey.
Companies have tried to understand the results of their marketing expenditure and failed to prove its value. They usually find data to be the key obstacle
Companies don’t really have a comprehensive data strategy in place.
And most companies don't even realize what exactly they’re are missing out on.
The result of this disconnection are independent campaigns executed through multiple 3rd party solutions. Each campaign execution system uses its own source of data which leads to siloed customer data, fragmented customer profile and disconnected customer experiences.
But what happens if you don’t take action and just keep doing what you’ve been doing?
The answer is very obvious; nothing. Additionally, your ability to meet increasing customer expectations will keep falling further behind, with more and more customers disengaging with your brand. Data is an important ingredient for creating unified commerce experiences for your customer.
Solving your scattered Customer Data problem, together
Many companies ask themselves (and us) the all-important question: How can we keep up with the competition, and preferably even outpace them?
Data is revolutionizing the way we all do business. Every organization now also deals in data and needs to have a robust data strategy in place to ensure this done properly. However, less than 0.5% of all data is actually analyzed and used, offering huge growth potential for organizations when trying to leverage this key strategic asset.
Our goal is to support every client that reaches out to us, which led us to the following initiative; We can help you create a single point of truth for all your customer data. This grants you a full view on your customers and allows for actionable insights, which in turn ensures you can keep up with your customers’ expectations and continue to grow your revenue.
A Customer Data Platform and Data Strategy are essential tools in the process of unifying your customer data.
Learn how to supercharge your Martech stack with CDPs
A CDP collects all data from online and offline sources in real-time, from both known and anonymous visitors engaging with your brand across and channel, and is able to match all these interactions with a single customer profile. This creates a 360 view of all users that interact with your brand across any channel and captures the development of your relationship along the customer journey. This greatly increases both the amount of data you gather and its usability, as it’s all centralized in a single platform.
Key Features of Customer Data Platforms
The main features that make CPDs the key missing piece to unify and enable the usability of your customer data are:
All data sources (including online and offline marketing channels) are centralized within a CDP, breaking data silos and creating a unified single customer profile. The data is updated on the CDP on a real-time basis with new information coming from these sources. The data is therefore unified on a single system for its analysis and activation.
Which products are each customer interested in? How long ago did they engage with the brand? What was their last purchase? Did they buy through a link in an e-mail? Previously, answering these questions was near impossible, as this data is commonly scattered across different channels without a way to link customer information to individual identities. A CDP provides these answers and enables you to personalize your communications, greatly improving relevancy and timing, to meet the needs and wants of your customers.
Including ads, website, e-mail marketing, offline channels, etc, and the triggers needed to launch marketing campaign. In addition, the data of the engagement generated is collected back into the CDP, closing the loop between marketing spend and marketing generated revenue.
In the era of connectivity, more and more customers are using new channels to engage with companies such as voice search or IoT, the amount of channels that customers use will continue to grow. CDPs will be the key to connect these channels easily with your stack and data sources.
We can support you in crafting a digital strategy to reach your customer in a more effective and efficient way and implementing the right CDP solution for your business. Here's what we can do for you:
Define your strategic data assets and data audience.
Gather the required data and implement new collection methods.
Get the most out of predictive analytics and machine learning.
Select the right technology, data infrastructure, and key data competencies for your specific wishes and needs.
We have helped companies like Carlsberg, Sligro, Kawasaki, ForFarmers create the best Digital and E-commerce Experiences for their customers and we can do so for yours.
QUESTIONS ON CUSTOMER DATA PLATFORMS?
We help you develop a digital strategy to reach your customers more effectively and find the right CDP solution for your business.