New data is coming from everywhere. And the Flood of diverse informationwhether consciously queried or generated during the customer journey, will not stop. Because the use of any data is the basis for comprehensive, precise and effective marketing.. But how do you use the data wisely for your own marketing? To Data acquisition and data collection there is a plethora of software tools. This oversupply can quickly lead to confusion. What is really needed? What are the Differences between CDP and Marketing Automation? What functionalities do these two areas offer - and are both needed?
In order to be able to discuss these legitimate questions, the following article provides a compact overview of the various features, potentials and functionalities and explains the success strategy of "Team CDP & Marketing Automation"!
CDP: What is that?
The abbreviation CDP, derived from English, stands for "Customer Data Platform" and describes a software application that Customer information from many different sources collects. This data is sorted uniformly and sent to one place, the CDP, compiled. The Customer Data Platform is primarily designed for marketing, which uses the Improvement of the Customer Journey anpeils. But also for other purposes, such as the Distribution, this data collection platform can be used effectively.
There is often a need for explanation in the Functionality of the software application. A CDP works with so-called APIs. An API (Application Programming Interface) enables software applications to communicate and interact with each other. Figuratively speaking, it can be with a bridge or contract compare. The API is thus a defined access point between applications or databaseswhich can then use each other's functionalities, data and business processes.
Due to the fact that the CDP the building blocks of many different data of a contact, a profound Analysis possible. Most CDPs are offered as a single Software as a Service model (SaaS). This means that users and users be able to access cloud-based applications. In some CRM, marketing automation (e.g. Emarsys) or customer experience cloud applications (e.g. Bloomreach) is a CDP already included and uses the collected data to enable a successful Customer Journey. In addition, there are specialized providers who work with other Integrate marketing applications via API.
CDP: The secret superpower behind customized marketing
The basic task of the CDP is the collection of first-party data. That is, a CDP focuses in particular on data that is the own company raises. Thus, information from the CRM, ERP, sales, marketing and, where applicable, legacy customer data systems processed. This then results in a "golden" data set, which is sorted by ID key and precisely assigned to each contact. A Customer Data Platform (CDP) therefore unifies all the Real-time customer profiles in one place. This also includes information such as surfing behavior within the website or data from the Social media channels. This provides a comprehensive view of the contact, which makes it possible to facilitates companies to create personalized Marketing Strategies to develop and specifically address the needs and preferences of their clientele.
If you are a connoisseur of the subject, you know that the Data storage is a decisive point. In the case of data lakes or data warehouses, often the Pure raw data stored. However, you can't really work with these in marketing - and if you can, yet only very cumbersome. In view of this, the CDP the data in such a way that it can be used directly for the Marketing goals can be used and every employee or department can view and understand them. Another function of the CDP is, as already mentioned, the trouble-free coupling with other systems.
Various predefined interfaces can use the data from other systems and integrate seamlessly into the platform. This makes the Data processing efficiency increased and companies can benefit from a benefit from a more comprehensive data poolto create even more accurate and meaningful customer profiles. This seamless integration enables Holistic view of the clientele and helps to further optimize the marketing strategy and to understand the customer even better.
CDP the sleuth: What data is analyzed here?
- Campaign data: These include, for example, UTMs that can be used to track where users have accessed content. But also the number of downloaded newsletters or clicks are included here.
- Customer Care Data: How often did the customer request support or use live chat and what were the concerns?
- Offline data: Data on the number of store visits or store purchases is collected here.
- Click Stream Data: This point refers to web and app tracking data, through which an insight into page views and session length can be obtained.
- Behavioral data: How does the customer behave? How many checkout steps does the contact usually take? Which products do they add to their shopping cart?
- Transaction data: Here the product data of the purchases are collected.
- Customer data: Finally, the personal data. This includes gender, age, name, email address, etc.
And what's it all for?
Data is important! And having them collected in one place is efficient! Through a CDP you manage to keep your perfectly segment and address the target group. The CDP allows you to filter the data by a wide variety of segments and to the right clientele in this segment address. It also gives you the opportunity to customize your Leads to evaluate, Retargeting or to run a lookalike advertisement.
In addition you can Send personalized product recommendations and your Conversion rate and Online evaluation improve. All in all, this allows you to keep strengthening your customer loyalty throughout the customer journey.
But isn't that the same as marketing automation?
The sentence "Send product recommendation" may have made you wonder. Isn't this one of the marketing automation tasks? Yes and no is the correct answer here. But before going into that, a precise definition of marketing automation might be helpful:
Marketing Automation: Efficient Customer Management
"Marketing Automation" means even in Times of Artificial Intelligence not that it replaces marketing teams. Nor is it a extremely complex, intangible, technological phenomenon.Marketing automation describes a principle and a toolset that significantly simplifies the work of marketers. Here, not only are prefabricated e-mails sent out, but also automated Workflows (sequences of steps) are created to simplify any marketing task..
In particular, constantly recurring work steps can thus be defined in the marketing automation tool, with corresponding target actions are linked and finally automated.
This can be used wherever processes can be standardized to a high degree and then technically automated. Used Marketing automation especially for Email marketing, lead generation, lead nurturing, lead management, campaign management, SMS Marketing, Landing pages and segmentations. Here, marketing automation can help to accompany each individual customer along the customer journey and thus keep customers continuously on the ball.
The success strategy of "Team CDP and Marketing Automation
Many companies use a Marketing Automation Systemto link different channels and thus carry out targeted marketing campaigns. However, combining CDP and marketing automation is a consideration you should take into account. Because it enables a even more targeted marketing and can also be valuable for sales.n.
A CDP system brings together contact information from all areas and provides a 360-degree view of each customer. Marketing automation software, on the other hand, merely collects customer information from its own system and uses it to optimize campaigns.
When CDP and Marketing Automation are used together, one gear meshes with the other and sets in motion a continuous improvement in the processes and effectiveness of marketing. Your employees can thus focus even more on innovation and, if necessary, direct customer contact.
Together they are better than apart
When you look the facts in the eye, a Marketing automation tool only half as effective without the CDP's analytics data. The two tools build on each other and thereby achieve their best possible strength. The success strategy of the CDP and Marketing Automation" team is the Cooperation of functionalities and data. And you no longer need to be afraid of the mass of data because of this partnership. A win-win situation for all involved.
If you have any questions about CDP and Marketing Automation, the tools or the implementation, just get in touch with us. We will be happy to help you.