Customer Data Platforms are the new secret weapon for marketing success in today’s omnichannel world. These platforms enable e-tail brands to create personalized, one-to-one experiences across all customer touchpoints and channels.
In this blog post, we’ll explore how Customer Data Platforms can empower e-tail brands to deliver omnichannel personalization and make customers feel like they’re shopping with a friend.
Let us get going!
What is a Customer Data Platform Anyway?
A Customer Data Platform is a single point of data collection, storage, and analysis that enables customer-centric engagement.
Typically these platforms use cloud computing to store large amounts of structured and unstructured consumer data in real-time. The beauty of this approach is the ability for brands to analyze all their customers’ information – from web browsing habits to purchase history – across any channel or device they are using at the moment. This insights-driven omnichannel marketing allows firms to communicate with individual consumers personally no matter what context they’re interacting in – online, offline, via social media, etcetera.
Customer Data Platforms empower e-tail brands by giving them an unprecedented view into their customers’ true buying behavior and purchase patterns.
How do CDPs Empower E-commerce Marketers?
CDPs provide marketers with the power and independence to manage data independently to create personalized marketing campaigns – without depending on any IT resource or highly technical personnel.
Integrating a CDN appropriately matches other systems, such as CRM (Customer Relation Management) and marketing automation platforms. This helps businesses, especially e-commerce brands, break down their siloed data, run real-time marketing analytics, and deploy tailored personalized campaigns.
Moreover, Marketers are constantly fending off technological, budgetary, strategic, and operational challenges. CDP platforms allow them to check and balance all these constraints for maximum profitability. A brand’s customers don’t know about these challenges, and they don’t bother about them either (because of no value!).
However, on the backend of marketing systems, CDPs prove to be the most effective tech stack for growing e-tail brands.
Unifying Customer Data with CDPs
The crux of using a Customer Data Platform for e-commerce growth unifies the otherwise siloed customer data. If it is centralized (and not scattered over different channels/sources/pipelines/platforms), it can be leveraged to uncover valuable customer trends, insights, and patterns – which can then be segregated into cohorts, and automation can take over to maximize the ROI.
But how do CDPs like Wigzo pull this off? Well, it begins this way;
Unifying Data from Omnichannel Sources
The first step to omnichannel customer service is collecting data from multiple sources like digital and physical channels.
The collected data can be structured, unstructured, and personally identifiable or anonymized. It is gathered in real-time to develop customer intelligence based on content consumed, purchase history, and interactions with marketing campaigns across channels.
Mapping Data to Individual Customers
Frankly, this is the differentiating superpower of CDPs that other tools and platforms can only imagine pulling off.
Customer Data Platforms like Wigzo can match the gathered data to incoming/outreach customer profiles and segregate them into custom cohorts accordingly. This way, marketers can build meaningful, personalized conversations around customers with shared attributes.
Leveraging Data for Personalized Marketing
Personalization is at the heart of growing e-commerce companies. Considering 79% of the consumers are readily influenced to purchase with a personalized offer, effective customer segmentation can help brands tailor offers suited to their taste.
A personalized marketing strategy becomes even more effective with customer segmentation based on the gathered data. For instance, Wigzo enables segmentation by customer type, site engagement, landing page segmentation, platform & device, AOV, cart profile, etc.
A customer data platform will generate new insights for AI and ML algorithms when predicting your next campaign or best product promotion.
This is when you need to act on the data you have gathered and behavioral insights generated on your customers. And CDP helps you bring that information into action. If you already have campaigns running, you can leverage this information to optimize them with time and enhance CLTV and overall ROI.
Furthermore, customer data platforms sync data such as customer transactional value, overall lifetime value, and loyalty index. This ensures that customer service staff can identify the most valuable customers and provide them with the fastest possible solution(s).
How CDPs Empower Brands to Truly Deliver an Omnichannel Personalized Experience?
The customer journey has changed. Customers are now looking for a personalized experience, not only when they buy but also during their interaction with the brand. To provide this kind of service that is aligned both on- and offline, brands need a technology that integrates data from these sources to understand how customers behave throughout their entire lifecycle.
Customer Data Platforms leverage the following values to help brands build a 360-degree personalized omnichannel experience;
- Collecting first-party data in a centralized location
- Enabling customer analytics in one place
- Creating smart customer segments
- Delivering actionable insights on different customer segments
- Deploying omnichannel campaigns in the context of analyzed customer data
- Nurturing 1:1 relationships with customers
- Providing operational marketing consistency to all customers
- Enabling real-time analytics and reporting for informed marketing decisions
One example of omnichannel personalized marketing is Nike+.
Nike+ captures all sorts of information related to running activities: distance covered during workouts, time spent exercising each day or week; calories burned; and much more. The data gathered can then be used by Nike+ users and the company’s staff members (salespeople) who engage potential customers at points such as a store location or an online channel.
Your turn to leverage CDP
Customer Data Platforms, especially those with marketing automation capabilities, can prove to be the best bet for online e-tail growth. With an intact customer data collection environment, powerful analytics, and targeted campaigns, CDPs can maximize your growth metrics in no time.
Try it for yourself!
Take Wigzo for a FREE spin and see how it can add tremendous value to your e-commerce business.