A CDP ‘s 5 Secret Powers of Customer Data Exposed
How a CDP Connects the Dots Between Customer Data and Marketing Campaign Orchestration
Data has become the most valuable asset of any business, and customer data is the most useful data of all. Accurate and comprehensive customer data is critical to the entire marketing process. It can help a brand differentiate itself from the competition. The key is knowing which customers, which products, what messaging, and what time to approach your marketing to be the most effective. And, the five secret powers of a CDP will help you hit these targets.
1. The Right Target
It’s no secret that marketing teams need to know as much about their customers and potential customers as possible. From simple questions like- who are they and where are they. To more complex ones like- what sorts of products and services do they like, how do they make their purchases, or why are they seeking a particular product or service. Marketers want to find repeat and loyal customers. They also want to learn what learn marketing campaigns resonate with them. There’s so much focus on whom to target and why often we overlook a large piece of what your data tells you.
Customer data is also informing marketing teams about who is not to approach. Learning to listen to this piece reduces waste, inefficiency, and surplus marketing spend.
2. The Right Message
The most effective marketing campaigns are always accurately targeted. However, that level of personalization requires deep knowledge of customers and their preferences.
Just knowing that someone drives a particular car or lives in a specific area isn’t enough. Customers need to feel as if they have been reached and understood. Yet, that understanding requires messaging that resonates with each customer- as if tailored just for them. This connection is critical to ensuring a seamless customer experience and fostering a long relationship.
3. The Right Time
Even in marketing, timing is everything. Suppose the timing of a message is off. In that case, that message—no matter how accurately crafted—will miss the mark.
Businesses need to truly understand what their customer data is telling them about previous purchases. When they do, marketing teams can accurately identify when a customer is ready to connect—and most likely to respond positively to their marketing message.
4. The Right Place
The retail environment has become complex and multi-channeled. Some customers still prefer physical stores, while others like to elicit information by talking to a representative on the phone. Still, others prefer to shop online, and of those, some prefer their phone to their computer. A few will do a mix of those things, or perhaps all of them. And even newer avenues of engagement are emerging.
This complexity means that marketing teams have to deliver the right message at the right time and the right place, and through the right channel. Again, data should inform marketers how to interact with customers. In other words, m arketing communication must serve its purpose but also suit the customer’s preference.
5. The Right Impact
When customer data is properly collected and analyzed, it can have a tremendous impact. It should inform the right message, target, time, and channel. Marketing teams can ensure their messaging and campaigns have the desired outcome with a comprehensive, accurate, and current view of customer activity. Then they can better target marketing campaigns to ensure continued successful results.
Marketing done right is getting the right message to the right customer at the right time and right place. Also, demonstrating that message is working. Customer data drives all these factors. Using the right tool (a customer data platform) to ingest all that data from diverse sources, process that data, and use it to develop meaningful messaging is the key to that marketing magic.
For more questions on what a CDP is and what it can do for you, check out our CDP Buyer’s Guide.