Is a Single Customer View Important?
The need for a single customer view is growing due to companies’ growing desire to see every customer’s purchase behavior across all channels. This holistic view provides companies deeper insight such as demographics about who the customer is, when the purchase was made, the channel purchased through, and the list goes on. In an article written by CDP Institute creator David Raab, he expands on the need for a customer data platform (CDP). A CDP is specifically created for marketing purposes and communicating with customers in a more personal way through customized cross-channel campaigns. Remember, data’s just data until you use it!
According to Institute founder David Raab, “The growing need for complete, accessible customer data has fueled the rise of CDP systems. Nearly two dozen vendors fit the definition but awareness of CDPs is still very low. The Institute will educate marketers about CDP capabilities and to help them take full advantage of these powerful new systems.”
A recent survey found that 90% of marketers consider an omnichannel customer view important for marketing effectiveness, but less than 20% currently have such a view. (LiveRamp, The State of People Based Marketing, October 2016). Another study found that the technology issues were the biggest barriers to delivering a unified customer view (Experian, The 2016 Digital Marketer, April 2016). CDPs remove many technical obstacles with features such as schemaless data stores, machine learning, and cloud-based deployment.
A CDP isn’t sexy. It’s plumbing. But it’s extremely important.
Read more from Raab’s article Customer Data Platform Institute Helps Marketers Build a Unified Customer View