The data fuels the digital commerce of the twenty-first century. For this reason, customer data is invaluable to customer-focused businesses. The Customer Data Platform (CDP) enters the picture at this point. CDPs enable you to obtain valuable insights about prospective customers and prospects. Thus, you can more accurately anticipate the next phase of the customer’s voyage and develop strategies to nurture and retain them. Let’s delve deeper into CDPs, their benefits, and the best platforms for your organization.
What’s A Customer Data Platform (CDP)?
Before moving forward, let’s review the fundamentals of CDP. A customer data platform (CDP) is a marketing system that accumulates customer information from multiple marketing and other channels. In addition, it stores information about customer interactions with your service and product in a database containing individual profiles for each customer. Customer data platform companies aid businesses in enabling customer modeling and optimizing the timing of targeted campaigns such as messaging and offers.
How Do CDPs Help Companies Grow Their Customer Base?
Customer data platform companies offer numerous benefits to businesses. In addition to providing a comprehensive view of your customers, CDPs offer the following additional benefits.
Keeping Customer Data Organized
Collecting, organizing, and using the data of your customers is the entire process of customer data management. CDPs aim to make this multi-step procedure seamless by organizing the data in a usable fashion. Although it may take some time to set up a CDP, once it is operational, you don’t need to worry about its maintenance.
Customer Analytics Data
Customer data analytics enables you to comprehend customer behavior, making more informed business decisions regarding product development, marketing, and sales. Collection, organization, storage, and analysis are the pillars of customer analytics. Individually, these components may not be useful, but combining them using a customer data platform allows you to generate potent customer analytics. Furthermore, CDPs will be of great assistance in helping to improve customer loyalty and retention rates.
Improved Data Privacy
The world is more aware of consumer data protection and privacy; therefore, you must respect customer data privacy. A customer data platform restricts data collection for marketing purposes and safeguards data privacy.
Every organization’s primary objective is to increase revenue. If you use a CDP correctly, it will increase revenue through intelligent targeting and improved customer satisfaction. In addition, as it provides a comprehensive view of the customer, you can deliver the appropriate marketing message at the appropriate time. All of these will result in increased customer engagement, higher conversion rates, and revenue growth.
Optimized Campaigns & Long-Term Insights
Using a CDP, companies can also obtain insights into specific campaign performance. You learn how to improve your campaign strategies as it lets you observe the effectiveness and results of the campaign. In addition to solving immediate marketing issues, it will benefit you over time by helping you save money and develop better campaigns.
If you use CDP to store customer data, you don’t need to worry about the GDPR compliance of various platforms or tools. In addition to allowing your company to anonymize contacts, it supports data portability and requests for data insight from the source platform. Even though there are numerous customer data platforms, here’s a list of the top platforms with the most advantageous features.
Best Customer Data Platform
As we curated, the best Customer Data Platform are listed below.
Using BlueConic CDP, businesses can convert customer relationships and achieve their revenue goals by accessing first-party customer data anywhere and anytime. It can convert collected data into actionable attributes and preserve them in a centralized customer profile. This platform represents each customer with a unique identifier and provides you with high-quality data to improve business outcomes. Here, you can also create multi-dimensional segments and deploy predictive models.
Real-time customer data are extremely valuable for the marketing team. For guaranteed success, Salesforce lets you unleash it. This platform saves time and money through engagement automation, intelligent segmentation, and real-time activation. It integrates all required data to provide a comprehensive view of each customer. This software’s scalability also makes each interaction personalized and cost-effective. With the help of its AI-powered analytics, you can make better, more intelligent decisions in less time. This software lets you enrich your customer profile by activating first-party ad data and your AI integration.
Autopilot is one of the best providers of a unified platform for customer data, marketing channels, audiences, and data analytics. With a 360-degree view of each customer, you can find and target the most valuable audiences. This CDP connects your customer data with platforms such as Facebook, Shopify, Zapier, WooCommerce, Recurly, and HelpScout. Then, examine the insights on the dashboard and take action using the analytics and reports provided.
Segment is a customer data platform that lets you collect, cleanse, and activate your customer data and route it to multiple integrated destinations. Its popularity can be attributed to its effortless setup, real-time monitoring, and customizable dashboards. Using its robust integrations, you can easily incorporate a new service into your company analytics, a key feature of this platform. In addition to these features, you can take advantage of custom data pipelines, manual analytics, the importation and conversion of customer data, and cross-channel engagement design.
SALESmango is an AI-powered customer data platform that lets you maximize first-party data to develop your organization to its full potential. It gathers information from multiple touchpoints and sources to create a comprehensive customer profile in an ongoing customer database. You can easily manage structured and unstructured customer data on this platform using a single customer identifier. Personalized omnichannel communication based on customer preferences and behavior is another feature it lets you use. You can also use its AI Predictive Analytics feature to find your next move.
Due to erroneous data, business organizations frequently fail to perceive the actual digital experience of their customers. Heap Analytics can comprehensively view all user actions on your website or product. The behavioral data gathered by this customer data platform will help you improve your business by enhancing the user experience. It also includes intuitive visualization tools enabling teams to locate the required insights rapidly.
CareCloud generates a true 360-degree customer view by collecting online and offline customer data, strongly emphasizing retail and e-commerce. Native apps enable you to filter target audiences and promptly execute email, SMS, and PUSH campaigns. Using automation workflows, the entire customer journey can be automated. The pre-made workflow bundle significantly benefits because it expedites the automation process. Robust analytics and prediction capabilities enable you to remain on top of customer data and correctly monetize it – a major advantage of CareCloud is native RFM segments supplemented with suggested actions to increase CLV and retention rate across the entire customer base. The Loyalty Engine is an additional sweet app that lets you set up a custom program based on points or membership levels in a user-friendly environment. CareCloud is an ideal CDP for businesses wanting to monetize the platform’s data directly without external marketing systems.
Customer retention is crucial for business expansion. WebEngage is an integrated, full-stack retention operating system that also functions as a robust customer data platform, personalization engine, analytics engine, and cross-channel campaign manager. Bringing data and analytics to the forefront assists you in establishing a robust data culture, allowing you to create marketing strategies based on the insights. With marketing campaigns, it is also possible to transmit the right message to the right audience.
Tealium AudienceStream is an ideal CDP for businesses that wish to collect fragmented data from multiple sources on a single platform. It assists you in making strategic decisions by providing you with predictive Machine Learning-based insights. In addition, this customer data platform incorporates consent management and regulatory compliance to keep your company compliant with the law. With Audience Emotional Intelligence, it can also easily identify visitor behavior patterns and increase customer interaction. You can incorporate any system tool using one of its 1300+ comprehensive integrations.
Do you wish to create 1:1 marketing campaigns for your customers? If so, choose BlueVenn. This customer data platform integrates all customer touchpoints to provide a unified, duplicate-free customer view. It is simple to visualize the customer’s voyage through accurate logs of each click, view, visit, transaction, like, and engagement activity. The unified view will eradicate all data silos and ensure all teams can access the information. Additionally, it facilitates centralized management of customer preferences and consent.
CustomerLab is a no-code customer data platform provider that can gather first-party data across websites, CRMs, and servers. In addition, it integrates all data to create a unified customer profile and transmits the synchronized data to any MarTech tool. It is also possible to create granular user segments based on characteristics and events. This CDP can benefit you whether your company is in the eCommerce, SaaS, agency, B2B/B2C lead generation, or SMB industry.
If your organization comprises modern data teams, you should choose the Jitsu data ingestion engine, which is entirely scriptable. You’ll only need a few minutes to create a real-time data pipeline on this open source CDP. Over 140 external data sources, including Google Analytics, Google Ads, Facebook Ads, Redis, Amazon Ads, and Amplitude, are supported. It indicates that this platform can generate 100% precise customer profiles. By analyzing the IP address, Jitsu can filter malware and determine geolocation. It can also route data to various destinations, such as Google Analytics, Facebook Pixels, and prominent databases. Since Jitsu is an open source and self-hosted solution, it can be deployed on your preferred cloud hosting platforms. It supports Docker deployment as well.
Consider The Following:
The Bottom Line:
Moving to a customer data platform is preferable if you’re having difficulty managing multiple legacy systems for customer insights or not seeing the intended results. These platforms serve as a centralized hub aggregating data from multiple sources into a single database. As a result, your company can develop a customized digital marketing strategy using the vital data collected by CDPs, such as user feedback, customer service data, and campaign metrics.