As the need for core customer data increases to astronomical levels, organisations still struggle maximising the use of data for personalisation, analysis and other business needs. The rise in interest of customer data platforms to collate and manage customer information for better personalisation and get a ROI in data, has never been higher.
Majority of customer data platforms (CDP) function very similarly. Firstly they consume customer first party data from multiple sources in real-time and establish information such as devices, emails or demographic information. Secondly CDP's allow customer data to be collated on an individual level, connecting variable attributes to identification. Lastly CDP's allow companies to segment customer data and share these details through reports and marketing solutions to personalise content for structured and targeted marketing campaigns, through digital ads, email, and various other monetisation channels.
Identifying Your Company Goals Before Using A Customer Data Platform
Customer data platforms operate a whole host of features and functionality but generally fall into four categories; spending money on ads more efficiently, increasing and improving marketing strategies, reducing technical costs and, gleaning a deeper insight into data. When searching for the best customer data platform for your business you must have an understanding of the goals you want to achieve and, ensure that the whole organisation is aligned to those objectives for the customer data platform to work effectively.
Buying Or Building A Customer Data Platform
Purchasing a pre-built customer data platform solution developed by industry experts is considerable advantageous, making it easier to gain a wider range of insights into multiple different areas instantly. Having an expertly made system makes solutions for businesses very simple with tried and tested software.
Alternatively, creating a custom built customer data platform requires a lot of investment in technology and experts resulting in higher costs, not to mention the time invested in building the ideal solution.
Personalising Content Effectively To Open Up Wider Marketing Opportunities
By strategically sending out data to various marketing channels, customer data platforms allow companies to deliver personalised offers, promotions, content and experiences to specific audiences. For this to happen effectively, you need to be able to analyse data from various touch points in the customer data platform and, automate the marketing strategy for your specific audience, in order to send the correct information.
Contact Evolok today and find how our Customer Data Platform solution can help you target those missed marketing opportunities providing greater insight into your customers preferences and behaviour.