Data is at the heart of customer experience and growth. But what does that mean for your business? And how do you get started? Take a look at the basics of data and what a customer data management platform can do for you.
Real-Time Information
Real-time information is the most valuable data because it is the most current. Real-time information can be used to make business decisions, such as:
- Targeting ads, promotions, and offers based on a customer’s real-time behavior. Suppose a customer searches for a product on your website but does not buy it immediately. In that case, you can target them with ads about that product or related products in order to convert them into paying customers.
- Customer service agents know when customers are looking for help or have questions so they can be ready to answer them immediately.
Personal Information
A customer data platform can provide quite a bit of personal information about your customers. It’s likely that you already have a lot of this information, so you may not need to add much to your database if you choose to use a CDP.
However, there are some things that only a CDP will be able to give you.
A customer data platform is able to supply the following information:
- Full name (actual name)
- Address (home address)
- Phone number(s) (business and cell phone numbers)
- Email address(es) (emails for both business and personal use)
Profile Information
This information is provided in a standardized format and can be easily accessed at any time. This allows you to understand better who your customers are, what they like and dislike, where they live, and more.
- Age
- Gender
- Location (both country-specific and geographically)
- Customer preferences (e.g., favorite color)
- Customer interests (e.g., hobbies)
Behavioral Information
Behavioral information is the data that shows what a customer does. This could be anything from what they buy, how often they buy it, where they purchase (e.g., online vs. in-store), and other similar behaviors.
Collecting this information and analyzing it with other data sources allows you to create a profile of your customers’ habits and preferences. This can used to inform future marketing efforts or product development—it all depends on what kind of business you’re running!
Purchase Information
Purchase information is about what products or services a customer purchased when they’re purchased and how often.
This data can help you understand your customers better by showing you what products or services they like most, how frequently they purchase them and any trends that appear over time.
Adobe Real-Time CDP states, “Build on privacy-safe strong partnerships and share first-party data always.”
Customer data platforms are a powerful tool for extracting valuable insights from your customer data. They allow you to track your customers’ behavior over time, which helps you understand how they use your products and services, which can lead to new ideas for improvements or product lines. The best part of all is that they make it easy! You don’t have to do any heavy lifting—just connect all your sources of information into one place and let the platform do the rest.
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