Sales professionals are always looking for an edge. They want to be able to close more deals and increase customer loyalty. A CDP can help them do both of those things. But what exactly is CDP? This blog post tells you everything you need to know about CDP sales solutions.
CDP Sales Solutions Explained
CDP Sales refers to promoting and selling products or services to customers through the use of a customer data platform (CDP).
A CDP is a software application that enables businesses to collect, manage, and analyze customer data from multiple data sources to better understand and engage with their customers.
The Benefits of Customer Data Platforms
By integrating all of your customer data (both structured and unstructured), CDPs provide a holistic view of your customers. This improves your CX.
CDPs provide a complete 360° view of your customers from data collected from every interaction they have with your business, including email, social, loyalty, and in-person. This customer view allows you to deliver highly-targeted and personal customer experiences that increase engagement and customer retention.
CDPs allow different teams to see the same information, working together more efficiently. By seeing who’s interacted with a customer or who hasn’t, they can more appropriately allocate their resources.
With CDPs, businesses can deliver consistent messages and integrated customer engagement.
CDPs offer businesses the ability to target individual consumers, personalize their experience and improve retention rates. By personalizing the customer experience, businesses can increase revenue.
CDPs not only collect customer information directly, but the data they provide is more reliable and up to date than data from any other source. Having all this information in one place and using it to make informed, strategic decisions can revolutionize your marketing efforts.
CDPs provide marketers with a centralized platform of reliable and integrated customer data. This data can be used to make better, more informed decisions about marketing programs and campaigns. Additionally, access to this data can inspire new marketing programs and ideas.
How A CDP Works
CDPs are systems that collect customer data from offline and online data sources and consolidate it into a single profile.
What are the main features of a CDP?
1. CDPs – Data Ingestion
Firstly CDPs bring data together to be connected to a person and a single record. CDPs gather data from multiple sources through the CDP’s integration library.
With so many different types of marketing systems out there (Salesforce, marketing cloud, BI, etc.), a CDP can ingest data.
2. Identity resolution
Previously, if you tried syncing your contact lists from your Palm Pilot to your Microsoft Outlook, you created duplicate entries.
Imagine having to combine 40 different sources of data.
With so many versions of the same prospect or client (i.e., John Doe, J. Smith, John Smith, etc.), CDPs are vital in unifying and consolidating these customer identities into one. This is key to maintaining accurate information and avoiding any confusion and inconsistencies.
To have a full view of your customers, it’s important to have all your systems integrated. This way, you can combine all the various identifiers you have for a customer, such as their email address, phone number, and name.
3. Data processing
CDPs are extremely useful for converting, purifying, and improving data. They have a user interface that makes it easy to use them, or they can be used with code.
Imagine having multiple systems where each uses a different format for location, such as one using zip codes, another using the full country, and another having first and last names.
To truly understand its customers, a company like NIKE must integrate data from multiple systems. For example, their app tracks users’ running habits while their purchases are stored in a different database.
4. Customer segmentation
A CDP’s strength is its ability to target very specific audience segments.
CDPs are a powerful tool for identifying profitable audiences to market to. With CDPs, you can create case-specific audiences and exclude people from an audience. This allows you to focus your marketing efforts on the most profitable segments of your customer base.
If a customer is unhappy with your service, don’t send them an email asking them to leave a review. Instead, wait until they are happy with your services before asking for one.
5. Data collection and syncing
1. Use a CDP to get your data working for you2. Send data out to other applications with a CDP for “data activation “3. Use a CDP to make your data actionable4. Get more out of your data by using a CDP5. Use a CDP to improve sales and prosper your business.
Organizations need to use customer data platforms (CDPs) which include a Composable CDP to increase sales and prosper. CDPs allow for data activation, which is sending data to other applications. An audience can be activated in marketing automation platforms, such as Salesforce Marketing Cloud, and then nurtured on the most relevant channels to increase sales and prosperity for a business.
Who Needs CDP Solutions?
CDP solutions are beneficial for marketers and salespeople who want to use data from multiple channels to inform their decisions. By consolidating this data into a single platform, users can gain valuable insights into the most effective marketing practices and identify trends. CDP solutions can help users improve their marketing campaigns and increase sales.
This data aggregator method is unique as it gathers both offline and online customer data.
These software solutions are useful for any business that wants a better understanding of its customers. It allows them to analyze the behaviors of customers better.
Knowing why a customer places an item in the shopping cart but fails to check out can help a marketer understand why the customer declines the offer.
The rise of technology and the increased efficiency in data gathering has led to the creation of massive sets of consumer information. CDPs consolidate and integrate all of this data into one place.
When talking about customer acquisition and retention, we refer to customizing products and services for your customers. This requires the proper management of your marketing funnel.
But, businesses often get caught up in the tangle of disjointed sales funnels—CDPs help streamline the processes of multiple communication channels.
It’s ideal for analyzing customer data across multiple channels and quickly spotting trends.
Conclusion
If you’re looking for a way to give your sales and marketing teams an edge, CDP sales solutions may help. With its 360-degree view of the customer and ability to track past customer interactions, a CDP can help salespeople better understand their customers and close more deals. Good luck with your sales!
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