5 Ways a Customer Data Platform Makes Your Business More Efficient

Think about the way you currently shop; maybe you see something you like in a shop window, research it online, add it to your basket and then forgo checking out in favour of picking it up next time you walk by the store. Most shopping experiences are a variation on that kind of process as the days of simply going into store and buying an item are long gone.

Customer data platform

Consumers want additional information prior to making purchasing decisions and the method of purchasing has also become more fluid: home or work computer, phone, tablet, in store. This presents a challenge to marketers as capturing the customer at different parts of the customer journey grows more complex, seemingly by the minute.

One thing that can help this process along is personalisation through data. Every online, and now many offline, moves that a customer takes leave a trace that can help companies create the most effective marketing strategies. Using this information efficiently through a customer data platform is the best way to make the business of marketing efficient and impactful.

Below we look at the five ways your business can benefit from a customer data platform.

Make data personal

We have touched on this a little already, but the future of successful marketing really is personalisation. Whilst some customers remain cautious about the use of data, others see how companies can use it to create positive and enriching experiences for them – businesses like FitBit demonstrate this perfectly.

By creating rich and dynamic customer profiles through customer data platforms, especially those with a single customer view feature, you’ll start to build a deep understanding of the real needs and wants of your customer base. This comes in especially handy as the customer journey becomes nonlinear – you may see that a customer is browsing a new product on your website but isn’t purchasing, at the same time you see they’re an avid social media user. You can then concentrate your marketing efforts on social media to best reach them.

Improve Customer Service

Things don’t always go smoothly but the mark of a good company, and its reputation, is how quickly and efficiently an issue can be dealt this. A great way to do this is by giving customer service representatives access to all necessary data, allowing issues to get resolved in no time. It’ll cut down on the need to ask the customer endless questions and reduce their potential annoyance if a customer service agent can access all needed information with just a few details, helping to resolve the issue accordingly.

Make Accurate Predictions

Customers don’t want to feel like they’re being spied on but if their data can be turned into genuinely useful suggestions from brands then their perception shifts.

For example, creating a ‘style library’ based on a customer’s past clothing purchases, suggesting new items that would complement ones already in their wardrobe, is likely to be seen as helpful when so many people are strapped for time and are usually looking for more of what they already like.

Netflix is a good example of this, it uses user data to create a taste match, indicating the similarity percentage, helping its users discover new shows.

Solve Pain Points

You should already have a good idea of what your customers’ pain points are – that’s just good business. But a customer data platform removes any potential ambiguity regarding this since you will be able to see exactly what the most common complaints currently are and begin to identify any impending problems.

By actively seeking out most common dissatisfactions and upcoming issues, your business can proactively address concerns, sometimes before they have a chance to make a negative impact.

Market Multi-Channel

By employing a customer data platform your business can focus on creating the best campaigns by using the data gathered rather than fretting about its delivery – that’s the easy part! This is all thanks to the platform’s functionality, encompassing analytics, campaign management and ability to send messages through varying channels all under one roof.

There’s also an in-built response loop that is fed right back into the platform for monitoring and amendment purposes so that your multi-marketing is fully optimised and targeted for the right customers.

Takeaway

Thanks to data, marketing is evolving fast. But it’s up to companies to utilise the data in a way that’s actually useful to its customers. The most successful companies will be the ones that build relationships that feel authentic and valuable as they maintain and grow a customer base.

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