How adding a customer data platform to your marketing stack will unlock cross-sales and up-sales
Using different apps gives you a lot of flexibility but can break your metrics when customer journeys cross between them
Marketers are always looking for ways to improve their campaigns and unlock new sources of revenue. One way to do this is by adding a customer data platform (CDP) to your marketing stack. A CDP will allow you to collect and combine data from your marketing channels to understand your customers better and create more targeted campaigns. Additionally, a CDP can help you identify valuable customer segments that you may not have been aware of before. So if you're looking for ways to improve your marketing efforts, a CDP is worth considering.
What is a Customer Data Platform
Customer Data Platforms allow marketers to capture and integrate all of their customer's information to be more effective in targeting them with ads, offers, or other communications to increase sales. The result is an organized profile of each individual customer journey within the database based on shared data going back out into other applications used by business owners and aligning information amongst teams working closely together.
Where CDPs fit in your technology stack
The CDP is essential software for eCommerce retailers. It helps centralize all your customer data where your marketing team and sales team can take advantage of whether connecting the data from the smaller stores or online. I have seen many startups start by selling on Shopify and then add Klaviyo, which also collects historical data on your customers so that you can segment and nurture customers with themes and relevant content. If you do this right, you can begin to generate sales from just this.
A CDP saves the day when you start marketing on other platforms such as TikTok and LinkedIn because your CDP has integrations that allow you to add the channels and start measuring. If you are a retailer planning an eCommerce business, then eventually clicking through all the reports on the different apps to get a sense of what is happening with your customer becomes cumbersome, and requests are slow to fulfill in terms of reporting changes.
Also, data shows that if you sell over fewer channels, you may not get the promised value of a CDP. Stores that have not expanded yet may take advantage of orchestration across channels.
The complexity of your company's data makes it difficult to keep track. You need a customer data platform with analytics that can help you connect all the dots so each brand has access, not just one manager who may or may not know what they're doing!
The data landscape is a complicated place. There are many brands, databases, and applications that must be integrated for your company's marketing team to see how customers feel about each product line or campaign type. Especially when you have different locations all running on different platforms with their own sets of information available (which can sometimes make things difficult). Good thing times are changing fast. Now data becomes manageable again. Thanks largely to new technologies running on artificial intelligence, like CDPs.
Investing in a CDP is an excellent way for any company, especially startups focused on selling online through Shopify and adding more revenue with Amazon sales. CDP software services have become easier to use with better designs. So business operators have to control the customer data and hands-on experience setting up campaigns for look-alikes.
How CDPs solve specific cross-sell and upsell challenges
Data siloes cause disparate data from touchpoints usually associated with marketing – such as a CRM system, an email campaign, or customer surveys -to be stovepiped. This leaves your organization at the mercy of its various business applications and prevents you from taking full advantage when it comes time to convert on cross-sell opportunities. By having all relevant information in one place, real-time decisions are easily without delay from gaps between updates across applications.
When customer data is combined, these sources tell a story about a customer's journey. They are a rich set of signals. For a marketer to understand the detailed nuances of each journey, there must be a seamless integration of all data sources, including survey data, and integration must be in real-time.
Connecting data and meshing it together doesn't yield results just like that. There's a lot of work ahead, but we can get started by connecting our survey responses with customer behaviors across different sources, such as surveys they've filled out online or phone calls made through their mobile device's microphone. Once these two pieces are put into place, there will be new insights into how customers experience brands over time.
The last stage of using your CDP as a recommendation engine is making sure that customers receive the right information in their preferred channels at just-in-time. This requirement means there needs to be logic capable of quickly determining which cohort they belong to for any given campaign, whether through SMS messages or email advertising; you'll also have access to this essential capability!
A recommendation engine works by collecting data, storing it, analyzing it, and filtering it. Because of the sheer complexity of these tasks and the enormous quantities of data they handle, a CDP is a must-have for a recommendations engine.
Cross-selling with better customer segmentation
Instead of choosing one product that will work for everyone, it may be easier to suggest an additional item. Adding SKUs that compliment the core offering may add some revenue and sometimes makes both products sell well.
The disadvantage with standard recommendations is you need a lot of data, or the limitations will leave you frustrated in terms of what can be available things like what's currently available can only tell us 25% about potential customers since our database doesn't go back very far sometimes I find myself getting frustrated when trying different tactics until someone told me these. Customers are expecting personalization, so you need offers that it a specific target audience.
Marketing is about more than just knowing your customer's purchase habits and preferences. With a CDP in place for marketers to access all of this information on customers and deeper insights into their various personas--you can truly understand what makes each tick! The best part? You don't have to take any steps; it simply happens behind the scenes so that when relevant ad campaigns do wonders at generating sales or leads from potential clients who might not otherwise see them if they were browsing online without ads.
Upselling with real-time insights
CDPs are specifically designed to connect and unify, creating a single source of customer intelligence. For an eCommerce store's recommendation engine to work well, it needs data that an online shopping site conveniently has in ample supply--namely, recommendations based on past purchases made by each shopper as well as timing details about these same individuals' behavior patterns when browsing through different product categories or looking up specific items.
The data on customer behavior helps understand why certain customers choose to shop at a particular store or online. For example, two working-age women may have gone grocery shopping and used the same discount code but one ordered milk. At the same time, another bought wine from their favorite supplier - does this tell us anything about what they were likely purchasing? These consumers may differ significantly enough based on only demographic information (like age)to make them appear different when it comes down to just being able to buy products digitally through eCommerce sites versus your retail store.
We can try some of these demographics.
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Marketers are always looking for new and innovative ways to improve their campaigns. One way to do this is by adding a CDP to your marketing stack. Collect and combine data from your marketing channels to understand your customers better and create more targeted campaigns. Additionally, a CDP can help you identify valuable customer segments that you may not have been aware of before. So if you're looking for ways to improve your marketing efforts, a CDP is worth considering. I'd be happy to help connect you with these initiatives if you reach out to me. Thanks for reading!