Updated: Oct 19, 2022
As we move into the future of work, marketers must learn to wield data more effectively to connect the dots between various systems and create truly personalized customer experiences. This is where a customer data platform (CDP) can be extremely valuable.
A CDP gives businesses a single view of their customers, essential for creating personalized customer experiences. CDPs also make it easier to activate customer data, which is important for optimizing customer engagement. Without a CDP, it can be difficult to see how one is data-driven or reducing customer friction through digital processes.
Why the CDP
To stay ahead of the curve, marketers need to learn how to use data more effectively and leverage CDPs to create personalized customer experiences. Only then will they be able to connect with their customers and create long-lasting relationships truly.
As we all know, it's cheaper and easier to keep a customer than to acquire a new one. CDPs help businesses identify which customers are more likely to leave and then target them with personalized offers and messages that are likely to keep them around.
In a study by Bain & Company, surveys found that a 5% increase in customer retention can lead to a 25-95% increase in profitability. CDPs allow you to track customer behavior to determine which customers are most likely to leave so that you can take action and keep them around for longer.
A marketing technologist is a newly emerging role, combining information technology knowledge with creative marketing skills. The role seeks to create a streamlined relationship between information technology and marketing.
The Marketing Technologist
So who takes care of the software? The marketing team can be big, even hundreds of people big. Most start as marketing analysts; then, a subset moves into marketing technology, where they focus on connecting and understanding how the marketing stack works. Marketers have to do more digital, and digital Marketing technologists may work for consulting agencies, professional services firms, or advertising agencies.
The primary focus of a marketing technologist is ensuring marketing strategies complement an organization's overall goals, collaborating with information technology personnel, and selecting the best technology vendors. Marketing technologists may assist in creating digital business strategies. Other job responsibilities can include advising clients on technical and creative issues, choosing and implementing solutions like content management or tag management systems, and ensuring systems and products' safety and trade compliance. Marketing technologists can choose publishing systems like Wix and workflow tools like Klaviyo and Mailchimp. These are easy to use and meant to be self-managed. They may recommend content marketing tools to track and analyze customer data- including CDPs.
Benefits of going technical
Higher lever marketing management has seen 10% growth faster than other careers. According to PayScale, in 2021, the annual salary of $56,851 for marketing technologists. As knowledge workers, marketing technologists benefit from the movement into remote work. Cloud applications have long touted that users can work from anywhere. Well, it's here. And you will have plenty of teammates.
The CDP Institute recently released the findings of their 2019-2020 CDP User Survey, which found that "the number of companies using a CDP has more than doubled in the past two years, with 65% of respondents having adopted or plan to adopt a CDP within the next 12 months."
Why spend more money on another platform while your marketing budget cuts? Marketers may control their sales and enhance them. The CDP gives you many data analysis capabilities, regardless of the marketing solutions you use for brand awareness. Marketers may control their sales and enhance them by gaining months to years in marketing efficiency.
Roles and Responsibilities of the marketing technologies
The main pillars of managing CDP software aren't that complicated, but they are relatively new to organizations because having access to actual data can't be new. Also, with the onslaught of data science, customer data has shifted focus- so support your data scientists. Here is what a Marketing Technologist would be doing:
Multi-channel data collection – Capture online data from various channels and offline data from physical stores.
Data aggregation, centralization, and storage – Collect data about your past customers and then analyze it.
Data enrichment and single customer view – You can get a detailed view of your customers and their transactions to give them personalized experiences and top customer support.
Understand behavioral segmentation – Dynamic customer segmentation lets you see what different groups of customers want, so you can create products or services that they are more likely to buy. This will help improve your conversion and retention rates.
Measuring and tracking customer satisfaction – Tracking customer satisfaction in real time can help you maintain high satisfaction levels for your most valuable customers.
Data analysis at various levels –You can use customer analytics and product performance reports to design better experiences and improve product assortment.
Automations & integrations to leverage data across other solutions – You can connect your marketing campaign with email marketing, SMS marketing, social media, and customer support platforms.
Marketing technologists are a recent arrival on the scene, fusing IT expertise with marketing creativity. The role strives to joined-up information technology and marketing more closely. Marketing technologists may work for consultancy firms, professional services providers, or ad agencies. It is mostly a full-time profession.
A marketing technologist's primary focus is ensuring that an organization's marketing strategies work well with its overall goals. This may involve working with IT staff and picking the best tech vendors. Sometimes, a marketing technologist may also help create digital business strategies.
In addition to advising clients and maintaining safety and privacy compliance, marketing technologists are responsible for choosing efficient solutions like content management or tag management systems.
As the world of marketing changes, so must the role of the marketing technologist. Marketers must learn to wield the data, connect the systems and personalize. Only then can they hope to keep up with the rapidly changing landscape. Contact us if you are interested in becoming a marketing technologist or bringing one to the team.