Why Centralising & Unifying Data is Mission Critical
by Holly Ripley, on 14 September, 2020
In this digital age data is key for any modern-day marketer. That won’t come as a surprise. But is simply collecting data as you go enough to keep up with this rapidly evolving industry?
Before the panic starts to loom and the cold sweat sets in – take a deep breath. All hope is not lost. There is simple solution that comes with an abundance of benefits...
Centralising and unifying data is at the heart of any CDP. A customer data platform (or CDP) is packaged software that enables any modern marketing team to gather and utilise first party consumer data from multiple platforms and touch-points captured from their online activity. From website queries, online transactions and behavioural data - just to name a few.
A CDP can integrate with a variety of software and platforms, collecting isolated units of data and combining them all into one, singular base.
“What benefits does centralising and unifying my data bring to my business?” We hear you ask...
We’ll give you five:
- Creating a singular customer view (SCV)
A singular customer view is created by a CDP as it analyses various sets of customer data to build an accurate depiction of what your customer really looks like. This depiction is based on various online behaviours and activities from multiple platforms - not just one past purchase. This is otherwise known as a 360 degree customer profile.
By truly knowing your customer, with a little help from our friend the CDP, marketers can provide the right message, at the right time to the right person.
That’s right, audiences can be better segmented and communicated with on the right channels, at specific times which resonate with messaging that has complete context based on all data points. This results in a higher engagement and ultimately conversion.
- Better customer experience
By having a better understanding of your customer, it means you can offer them a better experience. With the use of a CDP, segmented customer data and profiles can be used to automate customer journey’s in real-time in cross-campaign channels. Rule-based triggers can be created to trigger channel activity that is most likely to drive customer engagement with that specific profile.
For example, personalised email, recommended purchase online or specific content based on a specific topic.
A better experience for your customer will result in a greater retention rate and less churn for you. Everyone’s a winner.
- Increased ROI
Delivering cross-channel, relevant content to a consumer results in higher engagement and greater conversion. Doing so from an automated platform, enables your team to increase productivity and efficiency elsewhere.
Another advantage of automating the process is that personalisation can be activated in real time at scale, which will give your company the advantage over competitors.
- Data governance & compliance
Congregating your data from multiple platforms into a singular database makes it easier to manage. No data is left forgotten, unmanaged or going to waste, meaning you better manage and maintain governance and compliance.
- Optimise analytics
By centralising and harnessing your data you improve speed and accuracy of reporting. From customer intelligence insights to channel performance metrics a CDP can provide a powerful source of insight.
The CDP is the gift that keeps on giving. The more data that is harnessed by the CDP, the more the system is able to learn and improve insights and data accuracy going forward.
You’d better believe centralising & unifying data is indeed, mission critical.