This year, digital transformation spending will reach $1.7 trillion.
Perhaps unsurprisingly, Customer Data Platforms are the #1 technology being implemented by Enterprise companies.
And 62% of companies with digital transformations led by the CMO experience double-digit growth.
Stats like that make it clear that if you aren’t already on the Customer Data Platform train, it’s time to get on board.
But what if your company doesn’t really get it? What if the term “data-driven” isn’t in the team’s vocabulary? What if 1:1 personalization, automation, and the other big promises best-in-breed CDPs make seem like giant leaps and what you need is a baby step?
The answer is that there isn’t just one way to do this CDP thing. You don’t have to go from no data to Netflix-level personalization. You don’t have to solve all your data problems before you start considering a Customer Data Platform.
That’s why we wrote our latest guide – CDP Readiness Guide: Is your company ready for a CDP? that’ll help you figure out whether your team might be more ready for a CDP than you think.
You can download your copy with the link above. Or read on to learn about the different ways Lytics helps you take baby steps or giant leaps—whatever you happen to be ready for.
Get to know your customers
The simplest job of a CDP is this: helping you understand your customers.
Who are they? What content do they engage with? What do they click on? Where do they live? What’s their purchase history?
Even without any other bells and whistles, this information can take your marketing game to a new level. Which is why at Lytics, we have tiered packages that start here. Core CDP is all about getting a single view of the customer. Understanding who they are and what they want so that you can provide better customer experiences.
And with nearly half of customers saying brands aren’t meeting their customer experience expectations, this is a pretty easy way to leap ahead of the competition and meet customers where they are.
Turn data into predictions
So, a single view of the customer is the first step. But what’s the next? If you’re not ready for automation but you want more than a single view of the customer, where is the middle ground?
Essentially, instead of looking at a customer profile and figuring out the best way to engage them, the system figures it out for you, predicting things like:
- Which customers have an affinity for certain campaigns
- Which customers are most likely to subscribe, convert, or churn
- What milestones in your customer journeys lead customers toward your goals
Automate for 1:1 personalization
Now, once you are ready for the bells and whistles—the full power of what a CDP can do—the next level is what we call Automate. The goal here is to automate delivery of the most relevant message in the most appropriate channel using machine learning technology.
Automation takes the CDP to a new level because it makes it possible to personalize customer experience for hundreds of thousands or even millions of customers (something no marketing team could do without smart technology). Instead of segmenting people by interest or geography, the system targets them individually for the things they’re likely to respond to.
This is the kind of thing companies like Spotify and Netflix are great at. They treat customers as individuals and base recommendations, playlists, what to watch, etc. on that individual’s preferences.
A CDP with automation, like Lytics’ Automate package, is designed to help you join the likes of those industry leaders, personalizing for individual customers in a way that feels seamless.
Baby steps or huge leaps…you decide
So, here’s our point: there’s more than one way to do this CDP thing.
If you’re after 1:1 personalization, we’re with you!
If a single view of the customer feels like the best first step, we’re there too.
And if and when you’re ready to take the next step, all it takes is an upgrade. No new technology learning curve. No going through the CDP research process again because you need more features. Lytics is designed to grow with you, at your pace.