5 Reasons Why You Should Use a Customer Data Platform
Top 5 Benefits of a Customer Data Platform
Reasons Invest in a Customer Data Platform?- 5 Reasons
1) Circular View of the Customer -NO MORE SILOS
By combining data from across marketing, sales, and service teams, CDPs ensure that you always have a 360-degree view of your customers. There are no longer multiple people in different departments asking different questions about your customers; because they’re all pulling from one source of information—the CDP.
This process gives you a more precise and dynamic picture of each customer so that you can tailor products and services to fit their needs. And because a CDP provides you with centralized access into that complete 360-degree view of your customer across all channels, you gain actionable intelligence from conversations occurring on social media as well as those occurring offline at retail locations.
2) CDPs extends the ability to produce additional KPIs through Integration
One of the biggest benefits of using a CDP is that they can extend any other data warehouse/data mart that you have within your organization. This extends your company’s ability to generate more KPIs through integration. It also increases flexibility and will allow for faster load times because it does not have to rely on just one centralized database.
If you are looking to integrate multiple sources, then a CDP is definitely what you need to do. A CDP contains integrated functionality with in-built logic control, connectors, in-memory processing, built-in analytics capabilities, and access controls, which ensures that all aspects of operations flow smoothly without issues when integrated.
3) Ability to mature the orchestration of the data-driven customer experience
A data-driven customer experience will not happen organically. And like any important initiative in your company, you need to properly plan for it and allocate resources accordingly to ensure success. A CDP is purpose-built technology that enables companies to harmonize their disparate customer data streams to enhance operational efficiency across all customer touchpoints or orchestrate an entirely new experience when necessary.
Using a CDP can help your organization become more agile by enabling rapid experimentation of new possibilities for orchestrating customer interactions from the first touchpoint to the last. This agility then drives deeper levels of customer loyalty as experiments are rapidly tested, validated, and scaled into becoming part of everyday operations.
4) Secure & Encrypted Customer Data Storage to ensure compliance
More and more businesses are choosing to store their customer data in cloud-based databases. But you still need to make sure that any sensitive information is kept safe—particularly if your business is subject to certain types of legislation, like GDPR. A Customer Data Platform (CDP) can ensure that all data is encrypted and stored securely.
This ensures not only compliance but also peace of mind for any business handling sensitive customer data—and helps increase trust with customers, too. The best part? Many CDPs use multi-tenancy security settings, meaning one database manages multiple companies’ data without mixing it up. Yours is never exposed, even if others are compromised.
5) Makes conversational experience possible with HyperPersonalization
Giving customers what they want, when they want it, is key to an exceptional conversational experience. A HyperPersonalized experience can only happen when businesses have all of their customer data in one place – and that’s precisely why a Customer Data Platform is essential.
CDPs create a single source of truth for your customer data by seamlessly integrating with multiple channels, formats, and marketing applications. As a result, businesses can deliver unprecedented levels of personalization across every digital touchpoint—from website visitors to mobile app users. This higher level of personalization has been proven to impact conversion rates positively.
Using a customer data platform can be beneficial to your business in many ways. These were some reasons why you should invest using one today.
Here at MUSE Digital, we help clients get results from their customers’ data every day. If you want to learn more about how we could help your business, please contact us. We would love to hear from you!