You have customer data (probably a lot of it). You have a data management platform (DMP). You have data analytics tools. So why do you need a customer data platform?
It’s a bit like asking why you need a family vacation. After all, you have time off from work. You have time with your family. You have a car. But what’s missing is the experience. Vacations create memorable experiences for your family. CDPs create relevant, personalized, memorable experiences for your customers.
CDPs do more than collect customer data. They collect the right kind of data. And that's an important differentiation. Most CDP vendors encourage a unified customer profile or a 360-degree view of the customer. When in fact, as stated, what you need most is the right data. For example, the fact that you’re reading this article right now is valuable data. It tells me what topics you’re interested in (Customer Data Platforms), whether you like to read articles online (yes), if you’re more likely to click on an in-article link or a sidebar link, and so on. We call this first-party data, data that is collected based on the behaviors you're taking, leading to what is known as behavioral data, and it is the crème de la crème of customer data.
If CDPs just collected behavioral data and nothing else, those great customer experiences would stay parked in a data center. But CDPs do much more: they can bring in advanced data science tools such as machine learning and artificial intelligence to discover hidden affinities, make personalized content recommendations and predict future behavior, and then activate that newfound intelligence in real-time marketing campaigns and omni-channel experiences. It’s the difference between me greeting you at the door by your first name (personalization via traditional data management) and directing you to the new shipment of acid-washed, bootcut jeans because I know you like bootcut jeans and acid-washed denim (personalization with a Customer Data Platform).
Of course, that’s just one use case illustrating what a CDP can do for e-commerce brands. For every brand, the customer relationship is different. If you’re Gap Stores, you’re very interested in people’s fashion tastes. If you’re Nestle Purina, your use case might center more around the fashion tastes of pets; yes, it's true. To give you a sense of the range that a CDP can offer in terms of personalized experiences, here are three ways that leading digital brands are using CDP technology to connect more deeply with their customers.
More than two million UK motorists trust Regit to help them buy, sell, and maintain their cars in the United Kingdom. With the goal of being “your digital garage,” the company provides timely reminders and personalized news whenever one of their subscribers visits their site. But when a customer pulled out of Regit’s digital “garage” and headed for Facebook or Google, Regit could no longer offer personalization with their advertising experience for their subscribers.
With the Lytics Customer Data Platform, Regit was able to integrate customers’ behavioral data directly with their Facebook and Google ads to better target their offers to customers. Personalization opportunities were now available to Regit. The result was more effective marketing, including significantly more leads for scheduled test drives, one of Regit’s most profitable services.
Email marketing campaigns can be hit or miss and the KPIs and metrics behind them can be misleading. Do more opens mean you chose the right time, the right channel, or just the right title? For Haymarket Media, which specializes in online content for time-starved healthcare professionals, getting readers to click on email offers can often feel like pulling teeth. They needed to understand not only what encouraged a person to open an email but also understand customer engagement.
Within the first week of using Lytics, however, the Haymarket marketing team saw a 10X increase in email clickthrough rates. The secret? Personalization: targeting the right person with the right offer at the right time by combining behavioral data with data science for new insights that could be leveraged in real-time across their email campaign tools.
At Industry Dive, which produces original journalism across more than a dozen industry sites, content is king. If they want more loyal readers, they need to create and recommend content that aligns with their readers’ interests. Of course, that can be challenging when you have millions of readers, some of whom are visiting your site for the first time.
Using Lytics, Industry Dive's marketing team was able to gather better insights about reader behavior and use that data to drive up reader engagement. According to Robin Re, VP of marketing at Industry Dive, “Now we have much better customer intelligence about how people are engaging with our content and can use that information to drive smarter content recommendations and better experiences.”
As you can see, CDPs allow the marketing team to take marketing efforts to the next level—without having to build an entire technology stack in your data center. In fact, Lytics recently launched Lytics View to help marketing teams implement on their own, with little to no IT assistance required. Within seven days, marketers will have collected customer intelligence that connect them with their customers like never before.
So, if you’re ready for a vacation from traditional data marketing, talk to Lytics and get a demo of Lytics View. It will change the way you see your customers for the better.
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