Businesses today are awash in more data than ever before, ranging from transactional, demographic, and virtually infinite amounts of behavioral data. Typically this data is stored in silos, whether organizational or technological, making it very difficult for companies to provide consistent customer experience across various channels and consumer devices. Customer data platforms (CDP) can serve as the hub of customer experience efforts, collecting and bringing together 360-degree customer data from email, social media, advertising, CRM, loyalty programs, in-store visits, internet of things to name a few. All this data enables a deeper understanding of customer behavior far beyond sales and helps gain insights into their motivations, likes/dislikes, and tendencies.
With such a deep understanding of customers, a CDP with the appropriately connected martech platforms can enable real-time delivery of consistent messaging and experiences to customers across all channels. It also provides marketers the ability to precisely target buyers and personalizes these experiences to improve conversion and acquisition. The extended knowledge of each customer over time and across many channels comes the opportunity for organizations to build lasting relationships with customers, improve trust and in turn, increase retention rates. As the cost of acquiring a new customer is greater than retaining an existing one, so retention should be the top priority for all marketing departments. Keeping this in mind, a distinguished panel comprising CIOs, CEOs, CTOs, analysts and the Marketing Tech Outlook editorial board, has reviewed companies that provide best-in-class CDP solutions that improve customer experience.
In this edition of Marketing Tech Outlook, we present to you the “Top 10 Customer Data Platform Solution Providers - 2019.”
