How well is your CDP platform serving you?
This article is sponsored by Treasure data.
You can’t think of marketing today without exploring the world of data. Data is the fuel of all marketing for any brand looking to intimately engage and retain consumers.
As the amount of data available to marketers has grown dramatically due to the many available touchpoints and media fragmentation, making sense of data has also become much more complicated.
On the one hand, not all data is necessarily good data. Sometimes the data sets are incomplete or unclear. Sometimes they are just plain dirty and contain false information. As such, marketers need to make sure they’re investing in first-party data for optimal results.
Meanwhile, with personalization being a key part of a great customer experience, marketers now also need to make sense of all the layers of data collected and distill them into a single customer view.
What does single customer view really mean?
So, you have heard the term single customer view, which is sometimes also referred to as SCV. But what does it really mean, and why should you care?
Well, single customer views are basically dashboards with customer data from one person. This unified view of a single customer contains all of their personally identifiable information such as name, cell phone number, address, age, as well as purchase history, loyalty program activity and previous communications. . This then helps you to have a clear understanding of customer spending with your brand.
For the B2B marketing industry, which relies heavily on account-based marketing, the Single Customer View can be useful for marketers and sales professionals to truly understand who the ultimate decision-maker is and the challenges they face. . This in turn helps your organization gather information about it to develop better personas and campaigns that allow for personalization, which ultimately leads to a better customer experience.
In most cases, customer data platforms allow marketers in most industries to gain a single customer view through in-depth analysis or creating a market segment, or segmenting that that you want to examine with regard to the spending habits of each individual.
Typically, customer data platforms can help produce unique customer views as you explore your big data collection pool. But marketers should be aware that different customer data platform providers vary widely in the information they include. The way they present information and the ease of access to information also play an important role in the democratization of data in the various departments of your company.
Information such as name, email address, phone number and address, as well as demographics such as age, date of birth, gender and marital status are quite common and considered basic information. Nevertheless, it should be noted that different companies care about different types of data.
That’s why, in addition to common demographic and purchasing information, some vendors make it easy for you to customize the data that will be critical to your business and that will contain the information most important to your business.
Decipher a good single customer view platform
Before you jump into a potential new partnership, ask a potential customer data platform provider if they allow you to customize views and if they provide some simple tools to help you do so.
For example, Treasure data provides predefined codes and tools to help customize the unique customer view called “Treasure Boxes”. This allows businesses to track unique business metrics in a personalized way.
Less common are entries like “consent information” that detail customer privacy preferences and show you how your customer wants you to use the private information (or not). This is becoming increasingly vital in the age of privacy, as privacy takes center stage in communications with consumers.
Mature customer data platform vendors and providers like Treasure Data also include useful calculations based on your customer’s data and behavior in your unique customer view, such as customer current value and total revenue spent in the store. nowadays. This view also includes information on recent purchases, loyalty app usage, segments, and predictive scores.
Here are some other useful tips to help you with your partner selection:
- Is the information provided sufficient for the basic needs of your business?
- Is the information easy to find?
- Is the user interface intuitive and easy to understand?
- Can you get a good picture of an individual customer in a segment?
- Can you search all or part of the fields, or are you stuck with “fill-in-the-field” search capabilities?
- Does the CDP provider offer easy-to-use tools and codes for quick customization?
- Can you see or search for event, behavior, or travel data such as purchases, tours, or emails?
- Can you see the segment inclusion data?
- Can you see machine learning data like the best time to engage, the best channels and propensities?
The Treasure Data Customer Data Platform (CDP) enables businesses to deliver rich insights that drive exceptional customer experiences. Built on a solid foundation of data management, our CDP enables brands to securely unify customer data across silos at scale so they can better identify, engage and acquire customers.
The highly configurable platform has a comprehensive connector network that scales with your existing technology stack to sustain all customer data initiatives. Treasure Data has over 400 clients, including Fortune 500 and Global 2000 companies.
For more information, please visit www.treasuredata.com.