Customer Data Solutions For Retailers
Have you been challenged to improve your customer journey?
To do that you need to understand your customer's behaviour and the journey that they take when they shop with your brand. For this, you require two things: accurate customer data and CDP (Customer Data Platforms) software.
By collecting, connecting, and enriching customer data and creating a single customer view, you can discover actionable insights that help you attract and convert customers. Here we explore the CDP meaning and why it is vital for success in retail.
Why Do Retailers Need a CDP?
CDPs are used widely in retail and there is a good reason why. By creating memorable and personalised experiences that enhance customer satisfaction and secure long-term loyalty, you strengthen and grow your business.
Accurate Customer View
One location for every customer that you do business with and a full overview of all the data that you have collected on them.
Segmentation becomes more powerful and more important with any CDP. Analysis can help you to identify patterns in customer behaviour and in turn direct how you market to them across different channels.
Deliver in every channel available out of the box and also plug in other systems you use.
What a CDP is NOT
A CDP most likely won't have any insight into anonymous user behaviour and they are not meant to replace CRM (Customer Relationship Management) software.
While some CDPs have built native execution tools such as website personalisation, this is not a core functionality for the category. This takes focus away from solving the underlying data fragmentation problem that companies in the market are experiencing today.
CDP Software Can Benefit Your Retail Business in 2023
The various site data that users interact with a range from general quantitative data including email, phone numbers, and activity information to more specific, qualitative data such as motivations and attitudes through surveys and reviews.
Data-driven decision-making directs a niche audience to your business, increases acquisition rates, results in more customer activity on your online platform or store, and contributes to meaningful conversions.
Customer Data Platform Examples
Dynamic Yield combines the strength of unified data with the tools to activate personalised & optimised experiences across the web, apps, and email.
Dynamic Yield is an AI-powered Personalisation Anywhere™ platform that delivers individualised experiences at every customer touchpoint: web, apps, email, kiosks, IoT, and call centres. The platform’s data management capabilities provide for a unified view of the customer, allowing the rapid and scalable creation of highly targeted digital interactions. Marketers, product managers, and engineers use Dynamic Yield daily for launching new personalisation campaigns, running server-side and client-side A/B tests, leveraging machine learning for product and content recommendations, and employing algorithms for smartly triggered email and push notifications. Headquartered in New York, the company serves more than 300 brands across the world.
Emarsys is a best-of-breed, retail & ecommerce Omnichannel Marketing platform that helps you deliver truly personalised experiences to your customers.
Founded in 2000, Emarsys makes it possible for more than 2,200 brands in over 70 countries to connect with their 5.2 billion customers around the world. Each day, we deliver more than 350 million personalised interactions across email, mobile, social and web, leading to millions of daily purchase events on our software. With 25% of our annual revenue invested back into our platform, we continue to innovate with new releases to solve common challenges across the retail and eCommerce world.
Optimove is a leading CDP and marketing hub, empowering the world's leading brands to grow.
Optimove was founded in 2009 by people with a passion for understanding what drives customer behaviour. Today, Optimove's Science-First Relationship Marketing Hub is helping more than 500 brands drive their entire relationship marketing operation. Optimove is the Science-first Relationship Marketing Hub. With a real-time Customer Data Platform at its core, Optimove autonomously transforms customer data into actionable insights, helping customer-centric businesses drive measurable growth. The company's unique technology suite enables the smart orchestration, measurement and optimization of highly personalised multi-channel campaigns, at scale, resulting in improved customer experience, retention and lifetime value.
Ready to deliver revenue-generating customer experiences?
Find your perfect software match with Validify: a hassle-free vendor management platform that gives brands the tools to discover, compare and select the right technology and CDP solutions for their business.
What are Customer Data Platforms?
Customer data management software helps businesses nurture their relationship with the customer as well as improve customer service. Customer experience encompasses customer service quality, marketing, advertising and product information and design.
If you can learn how to execute a high-impact customer experience and really understand your customer and their habits then you will increase revenue via new and returning customers.
CDPs collect data from multiple systems and condense it into a single customer profile that helps predict optimal next moves for retaining ideal target markets. This software gives marketing teams the tools to mine valuable insights and enable them to run successful marketing campaigns.
Understanding what kind of experience your customers want is easier said than done. Even if you’re able to determine what type of experience customers are looking for, how can you make it consistent across all channels and personalise it to each customer?