The key benefits of using a CDP

A Customer Data Platform is a global platform, so many departments from many sectors can benefit from it. In fact, every single customer-related department of the company will end up making the most of it.

As many different departments would use it, it is crucial for it to be accessible. This is why an easy-to-use CDP is vital for a company to be able to become customer-centric.

Customer-centric, data-driven companies

Becoming customer-centric is a priority for companies, as US companies lose billions per year due to avoidable customer switching. The current competition for market share has become more fierce than ever before, and the need to become omnichannel has forced companies willing to become customer-centric to be data-driven, in order to understand such amounts of customer data.

This is where Customer Data Platforms fit into place. A CDP is a platform where you store and unify all of your customer data (first, second, and third-party data), and, with the use of AI/ML, obtain actionable insights from your customer's 360 profile.

Here are the different benefits a CDP provides to the different departments of a company.

Marketing teams

• 360 profile: unifying customer data in one platform and in real time enables a complete customer profile, which can then be compared with the rest of customers to obtain insights.
• Hyper-segmentation: the unification of basic, behavioral, attitudinal, and socio-demographic data enables a level of segmentation never seen before, such as segmenting by buying habits.
• Personalization: with 360 profiling of customers your company can start personalizing campaigns according to each customer's needs (personalized newsletters, emails, social media content depending on segment, etc.).
• Predictive models on campaign efficiency: a CDP helps your company predict trends with AI/ML. By adding your past campaigns to your 360 customer profiles, you can predict future campaign efficiency by type of campaign and customer preferences.
• Buyer personas in real time: having your customer data unified and constantly refreshed enables a constant buyer persona for each product.
• Omnichannel customer journeys: each communication channel works differently, but customers demand a fully unified experience from brands. You can track the customer journey across channels to activate a personalized omnichannel experience.
• Forget about third-party cookies: a tagging functionality in a CDP helps you track each individual customer through your website and add this information to their 360 profile.
• Geomarketing: unifying third-party (socio-demographic) data allows the 360 profile to be much more detailed, helping you identify the areas that best match your buyer persona.
• Dynamic scoring: a model that gives a rating from 1 to 10 of each customer's engagement in real time, to see how campaigns are affecting them.
• Orchestrate campaigns: the CDP enables you to orchestrate campaigns by sending audiences, segments or profiles to your different tools (email marketing, social media, advertising, etc.).

Sales teams

• Personalized contact: contacting customers via email or phone is much easier if your sales team has a 360 profile (unifying first, second and third-party data) with all the information about your customer (behavioral, attitudinal, basic, etc.).

Logistic operators

• Demand forecast models: being able to predict demand with efficiency rates over 95% helps avoid stockouts.

Directors

• Full reports, easy to read: in the same platform, and with all the data and insights obtained, you can extract reports, graphs, and summaries of how your company is performing in terms of customer experience.
• Demand forecast models: know a year in advance the total demand your company will have in order to organize properly financially.