Why you should embrace the customer data evolution
Customer data platforms will not only save you money, it will help you achieve the ultimate goal – driving up customer lifetime value.
The Customer Data Platform is the evolution of the marketing database. It is a watershed step, improving customer identification, data management, data manipulation and deployment.
This webinar looked at:
- Reduce costs by removing data silos and platforms. CDPs remove the requirement for up to eight platforms, driving down costs and improving ROI.
- Manage data and technology more easily to deploy multichannel campaigns. Data-driven customer understanding is the key to success in today’s marketing arena. CDPs bring together all customer data into a single record and then build on that, adding every interaction, engagement, webpage visited and every mobile device.
- Predict future customer behaviour to maximise sales opportunities. Having so much customer data in one platform means you can apply predictive solutions and so influence the customer’s journey and drive up income.
- Increase conversion and drive up revenue.The wealth of data improves targeting and relevance. It also allows you to market current and future intentions of customers, not historic behaviour, maximising the opportunity offered by marketing automation.
- Put the data in the hands of the user – the marketer. For too long, marketing has been limited by a lack of access to data. Whether it is due to legacy systems, lack of IT resource or siloed data repositories, the CDP resolves this issue.
- Grow the lifetime value of customers. All of this delivers the key goal – driving up customer lifetime value. Simplistically, customer lifetime value is about selling more product quicker. But growing LTV is based on customer knowledge, which can be provided by the CDP.