6 Benefits of Customer Data Platform you must know
Written by
Mariam Hazrat

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6 Benefits of Customer Data Platform you must know

Published : September 30, 2020
Benefits of CDP 1

As marketers we all want our brands to build long-lasting relationships with customers. This is exactly what we expect our teams to achieve. But how can you really build these relationships until and unless you provide your teams the right tools or I would say platform to know your customers and keep them engaged?

You’re loaded with customer data but if they’re not actionable then it’s nothing more than a heap of wasted opportunities to engage your customers.

So here’s where the Customer Data Platform (CDP) plays its part. All the information CDP gathers from the multiple customer touch-points is placed at your fingertips, absolutely ready to be used. The insights make it easier for you to keep your customers satisfied and engaged every time they interact with your brand at every stage of their customer journey.

If you’re reading this you already know that a CDP gives you a 360-degree view of every individual customer. This is the formation of individual customer profiles that CDP creates on the basis of the information it gathers.

Of course there’s much more to this. So let’s tell you exactly what CDP brings to the table.

  1. Breaking the data silos – You probably already have a tool to give you a 360 degree view of your customer. Chances are that all this data is stuck in different platforms.  But what you don’t have is a platform that breaks these data silos and connects all your marketing platforms.  Enters CDP. It gathers data from all sources in any format, puts it together for you and gives you the right insights to plan all your marketing campaigns.
360 degree view of your customer
  • Customer Segmentation – Once all the customer data is at one place, the next thing in line is to profile and segment customers (that too detailed) and adding even more value to your offerings.
  • Tracking customer journeyCDP goes much more beyond simply giving you insights on your ads or say email campaigns. Every customer interaction in terms of how many times your customer viewed a product, number of times your website was visited, which part of your app they’re engaging with the most, and many more questions that we marketers have to tackle on a daily basis is answered by CDP.
  • Real-time information – It’s one of the best parts of having a CDP. It keeps all the data of your customers updated in real-time. This is what enables marketers to keep at par with the changing customer preferences and offer real-time solutions to every customer problem.
  • Personalized Journey – Most of the companies today recognize the importance of a personalized customer experience. Today’s customers expect brands to offer them an experience that is unique to them. This goes on to show that you care for your customers and you exactly know what they need, when they need it and where they need it. This has made personalization a key strategy for marketers in every Industry today. All said and done, the only way you can personalize your customer’s journey is if you have enough data about them. This brings me to my point. CDP is the way to get the all the data (the right ones) you need to be tuned-in with your customers’ needs to make them stick to your brand.
flowchart of possibilities of Personalized Journey
  • Increased Revenue – Let’s get down to the real deal. Let’s talk numbers. The bottom line for all your marketing campaigns is to get revenue for your company. I think it’s safe to say that any marketing tool is as good as the monetary benefits (In addition to other qualitative benefits) it gives you. All these points I talked about till now boil down to the fact that every business wants to be a customer-centric one and at the end it’s those repeat business from customers is what churns your company’s financial wheels. This is how CDP benefits you. With your data in one place, you exactly know the ‘Next best offer’ you need to make to your customer. Once you know that, rest assured you’re ready to make your customers click right on purchase.

All in all with the right Customer Data Platform in place you can be sure to not miss out on any customer milestone. The hype about Customer Data Platform seems worth it, doesn’t it? You are already on the right direction to make you and your customer’s life simpler, so take the next right step and Schedule a Demo with us to actually see the benefits of CDP.

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