Making the most of customer data platforms
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The document discusses customer data platforms (CDPs) and provides examples of their use cases and benefits. Some key points: 1) A CDP builds a persistent, unified customer database from any data source to provide a holistic view of each customer. It is accessible to other systems. 2) Common CDP use cases include unifying data from various sources, analyzing customer behavior to identify high-value segments, building predictive models, running targeted outbound campaigns, and personalizing interactions across channels. 3) When evaluating CDPs, considerations include what capabilities are needed, vendor fit based on client size/industry, and ensuring the selected CDP can address specific business goals and data needs. Proper management
Making the most of customer data platforms
- 1. 1 #DigitalPriorities Digital Marketing Priorities 2018 brought to you by Making the Most of Customer Data Platforms David M. Raab CEO, Customer Data Platform Institute Digital Marketing Priorities 2020 brought to you by
- 2. 2 Before we start… house keeping • A recording for the webinar will be sent via Email • Slides will be available via Smart Insights Slideshare • Please get involved with the interactions: • Give your views in the votes • Do ask questions at any point via the Questions panel
- 3. 3
- 5. 5 Packaged software that builds a = not custom project = faster, lower cost, less risk, more mature Persistent, unified customer database that is = any source, retain full detail, separate data store, organized by customer Accessible to other systems. = easy to share, change systems without disruption
- 6. 6 Packaged software that builds a = not custom project = faster, lower cost, less risk, more mature Persistent, unified customer database that is = any source, retain full detail, separate data store, organized by customer Accessible to other systems. = easy to share, change systems without disruption
- 8. 8 CRM WEB MOBILE EXTERNA L CRM WEB MOBILE DMP CDP DELIVERYSOURCES Load, Clean Transform Link Data Aggregate Expose Segment
- 9. 9 CRM WEB MOBILE EXTERNA L CRM WEB MOBILE DMP CDP DECISIONS DELIVERYSOURCES Predict Personalize Orchestrate Budget Content Measure Load, Clean Transform Link Data Aggregate Expose Segment
- 10. 10 CDP- Data- Lake/ WH- Data- Hub- /Tag- -Mgr- MAP CRM .Mktg Cloud JOE- DMP- ESP- CMS -App- Packaged- ✔ ✔ ✔ ✔ ✔ ✔ Persistent- ✔ ✔ ✔ ✔ Unified- ✔ ✔ Open Access- ✔ ✔ ✔ ✔ Decisions- ? ✔ ✔ ✔ Delivery- ✔ ✔ ✔ ✔
- 11. 11 What can I do with a CDP?
- 12. 12 Customer Data Maturity Stages Unify Data Analyze Predict Outbound Campaigns Real Time Interactions Orchestrate Across Channels ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔
- 13. 13 What’s a CDP use case? = not custom projecore mature = Use case made possible by CDP = easy to share, change systems without disruption
- 14. 14 CDP Use Case: Unify Data Problem Online game logs are not accessible to analysts Solution Load logs into CDP and apply analysis tool Benefits Improved game play based on insights from analysis Inputs Session logs from game, user profiles from registrations Processes Load logs and profiles into CDP; place in accessible format; apply analysis tool; report on results Outputs Analysis-ready files; analysis results Skills Log access, log analysis Measures Game sessions analyzed/hour, revenue impact of recommendations
- 15. 15 CDP Use Case: Analylze Problem Specialty sports brand wants to grow email list Solution Identify high value personas and target via paid social ads Benefits Focus acquisition spend on high value names Inputs Existing customer attributes and transaction history Processes Identify high-value customers; send to social media for look- alike targeting; run campaign to capture emails Outputs List of current high-value customers Skills Data assembly, customer value analysis, audience creation Measures Number of new email names, lifetime value of acquired customers
- 16. 16 CDP Use Case: Predict Problem Online bookseller wants special campaign to target likely second-purchase buyers Solution Build predictive model to identify likely second-purchase buyers Benefits Higher second-purchase and future revenue with limited cost Inputs Customer transactions, behaviors, and engagement data Processes Create unified profiles, build predictive model to identify likely second-purchase buyers; execute targeted campaign Outputs List of buyers ranked by second purchase likelihood Skills Unify customer data, build predictive models, create campaigns, read campaign results Measures Second-purchase rate (test vs control), cost/second purchase, lifetime value
- 17. 17 CDP Use Case: Outbound Campaigns Problem Retailer company wants to stop retargeting emails after customer makes in-store purchase Solution Link in-store purchases to online customer profile and remove buyers from retargeting audiences Benefits Fewer annoyed customers, substitute more effective emails Inputs Online products considered, online and in-store purchases Processes Identify products considered but not purchased; create retargeting email audience; link subsequent online and retail purchases to customers; remove buyers from retargeting Outputs Updated lists for retargeting email Skills Unify online and retail customer ID; manage email system Measures Time between purchase and removing buyer from retargeting list; change in email metrics (open, unsubscribe, purchase)
- 18. 18 CDP Use Case: Real Time Interactions Problem Insurance company wants higher Web site conversion Solution Show visitors intent-based messages on Web site Benefits Higher conversion leads to higher sales Inputs Web content consumption by visitor, intent related to content Processes Identify visitors over time, track content consumption, infer intent topics, offer related content during future site visits Outputs Recommended topics for each visitor, content delivered by Web system Skills Data loading, content analysis, Web site personalization Measures Repeat visitor conversion rate
- 19. 19 CDP Use Case: Orchestrate Across Channels Problem Global banks wants to deliver next best action in all channels Solution Central orchestration engine instructs channels in real time Benefits Better experience for customers, more revenue / action Inputs Life event signals, account details, current context Processes Identify customer during interaction, use predictive models to identify best action, send to channel for execution Outputs Recommended action Skills Data assembly, predictive modeling, campaign design, delivery system operations Measures Change in lifetime value, revenue per interaction
- 20. 20 What’s a CDP use case? = not custom projecore mature = Use case made possible by CDP = = Use case requiring unified, persistent, shared customer data = easy to share, change systems without disruption
- 21. 21 How do I buy the right one?
- 22. 22 Do you have customer data? How to Sell a CDP
- 23. 23 YES Do you have customer data? How to Sell a CDP Is it perfectly accurate, complete, unified, and accessible?
- 24. 24 YOU NEED A CDP! NO YES Do you have customer data? How to Sell a CDP Is it perfectly accurate, complete, unified, and accessible?
- 25. 25 NO Sign here YES Do you have customer data? How to Sell a CDP Is it perfectly accurate, complete, unified, and accessible? YOU NEED A CDP!
- 26. 26 What do I want to do? Is CDP the best solution? What’s stopping me from doing it? How to Buy a CDP
- 27. 27 What do you want to do? Programs Use Cases Strategy Resources
- 28. 28 Gaps What do you want to do? What’s stopping you from doing it? Needs Programs Use Cases Strategy Resources
- 29. 29 Is CDP the best solution? Features Best choice What do you want to do? What’s stopping you from doing it? Needs Programs Use Cases Strategy Gaps Resources
- 30. 30 CDP- Data- Lake/ WH- Data- Hub- /Tag- -Mgr- MAP CRM .Mktg Cloud JOE- DMP- ESP- CMS -App- Packaged- ✔ ✔ ✔ ✔ ✔ ✔ Persistent- ✔ ✔ ✔ ✔ Unified- ✔ ✔ Open Access- ✔ ✔ ✔ ✔ Decisions- ? ✔ ✔ ✔ Delivery- ✔ ✔ ✔ ✔ Gaps closed
- 31. 31 100+ CDPs!
- 33. 33 ✔ Vendor Fit CDP Clients CDP Scope •Region •Size •Industry •Data •Analytics •Campaign •Delivery
- 34. 34 CRM WEB MOBILE EXTERNA L CRM WEB MOBILE DMP CDP DECISIONS DELIVERYSOURCES Predict Personalize Orchestrate Budget Content Measure Load, Clean Transform Link Data Aggregate Expose Segment
- 35. 35 CRM WEB MOBILE EXTERNA L Predict Personalize eOrchestrate Budget Content CRM WEB MOBILE DMP Measure Load, Clean Transform Link Data Aggregate Expose Segment DATA ANALYTICS DELIVERYSOURCES CAMPAIGN
- 36. 36 Operations Data Analytics Campaign Delivery Data CDP 🡨 Analytics CDP 🡨 🡨 Campaign CDP 🡨 🡨 Delivery CDP 🡨 🡨 Operational CDP 🡨
- 37. 37 Operations Data Analytics Campaign Delivery Data CDP 🡨 Analytics CDP 🡨 🡨 Campaign CDP 🡨 CDP Inside 🡨 Delivery CDP 🡨 CDP Inside 🡨 Operational CDP 🡨
- 38. 38 ✔ ✔ Vendor Fit CDP Clients CDP Scope CDP Features •Region •Size •Industry •Data •Analytics •Campaign •Delivery •Use cases •Needs •Scenarios
- 39. 39 Is CDP the best solution? What do you want to do? What’s stopping you from doing it? Features Best choice Gaps Needs Programs Use Cases Strategy Resources
- 40. 40 Which CDP is the best solution? What do you want to do? What’s stopping you from doing it? Features Best choice Gaps Needs Programs Use Cases Strategy Resources
- 41. 41 Data CDPs Analytics CDPs Campaign CDPs Am peri ty Asc ent 360 Cel ebr us mP arti cle Pe arl Thi nks Se gm ent Te ava ro Te aliu m Wh ite Ra bbit Cro ssE nga ge Si mo n Dat a Agil On e Ar m Tre asu re Dat a Blu eC oni c Ev erg age Latt ice En gin es Lex er NG Dat a No min ow Qu aer o Se ssi on M Zyl ote ch Blu esh ift Blu eV enn Ex pon ea Le mni sk Lyti cs Ma nth an Opt imo ve Qui ckP ivot Re dE ye Re dP oint Shared CDP Features Retain original detail Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Persistent data Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Individual detail Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Vendor-neutral access Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Manage PII Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Base Features API/query access Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Real-time access Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Persistent ID Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y N Y Y Y Y Y Y Y Deterministic match Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Probabilistic match Y Y N N Y N N N N N N Y N N Y Y Y Y N Y N Y N N N Y Y Y N N N Y On-premises option N N Y N N Y N N N N N N N N N N N Y N Y Y Y N Y N Y N Y N N N Y Un/Semi- Structured JSON load Y N Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y N Y Y Y Y Y Y Y Y Y Y Y N Y Y Schema-free data store Y N Y N N Y Y Y N Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y N Y Y Web Site Javascript tag N Y N Y Y Y Y Y Y Y Y Y Y Y Y N N Y Y N Y Y Y Y Y Y Y Y Y Y Y Y Cookie management N N Y Y Y Y Y Y Y Y Y Y Y Y Y N N Y Y N Y Y Y Y Y Y Y Y Y Y N Y Mobile Apps SDK load N N Y Y N Y N Y N N N Y Y Y Y N Y N N N Y Y Y N Y Y Y Y Y N Y Y Digital Ads Audience API Y Y Y Y N Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Cookie synch N N Y Y N N Y Y N Y Y N Y Y Y N N Y N N N Y Y N Y Y Y N Y Y Y Y Offline Postal address hygiene Y Y N Y Y N Y N N N N Y Y Y N Y N N Y Y Y Y N Y N N Y N N Y Y Y Name/address match Y Y N Y Y N Y N N N N Y N Y N Y N N Y Y N Y N Y N N Y N Y Y Y Y Business to Business Account-level data N N N N N Y Y N Y Y N Y Y Y Y Y N Y Y Y N Y N Y Y N Y N Y Y N Y Lead-to-account match N N N N N N Y N Y N N Y N Y Y Y Y Y Y Y N Y N Y Y N Y N Y Y N Y Analytics Segmentation Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Automated predictive N N N N N N N N N N N Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Engagement Content selection N N Y N N N N Y Y Y Y Y N Y Y N N Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Multi-step campaigns N N N N N N N N N Y Y N N N N N N N N N N N Y Y Y Y Y Y Y Y Y Y Real-time interactions N N Y N N N N Y N Y N Y N Y Y N N Y Y N Y Y Y Y Y Y Y Y Y N Y Y www.cdpinstitute.o rg
- 42. 42 How Can I Use It Well?
- 43. 43 2.75 3.27 3.63 3.77 3.14 3.50 3.36 Martech & Group & IT IT only Martech & IT Martech only Martech & Group Group onlyGroup & IT Source: CDP Institute, 2019 Martech Management vs Satisfaction Work with experts
- 44. 44 Give control to users 42% 44% 29% 27% 48% 38% 47% 42% 20% 25% 11% 14% 38% 32% 48% 48% governance and compliance customer data operations data security data schemas, metadata, etc. marketing automation rules customer data acquisition customer insight measure and optimize Functions Managed by Marketing Leaders Mainstream Source: Econsultancy, The Customer Data Imperative, 2018
- 45. 45 Apply formal management 4.00 3.93 3.86 3.71 3.64 3.63 3.463.48 3.48 3.49 3.50 3.53 3.56 3.63 Martech COE Martech metrics Martech agile Martech plan Martech staff Martech standards Martech consultants Martech Methods vs Satisfaction Used Not Used Source: CDP Institute, 2019
- 46. 46 26% 34% 34% 36% 47% 54% 63% Budget is inadequate Poor cooperation across organization Technology staff lacks time or skill Marketing staff lacks time or skill Can't extract data from source systems Can't apply unified customer data in delivery systems Can't assemble unified customer data Biggest Obstacles to Better Customer Data Utilization Source: CDP Institute, 2019 Check source and delivery systems
- 47. 47 20% 23% 24% 25% 28% 30% 32% 38% 43% 46% Lack of executive sponsorship Low quality data Too many technology solutions IT department constraints Poor technology solutions Access to data Lack of organizational alignment Lack of knowledge/skills Lack of budget Lack of personnel Greatest Obstacles to Making Personalization a Bigger Priority Source: Researchscape International/Evergage, 2019 Trends in Personalization Address organizational issues
- 48. 48 25% 27% 29% 39% 40% 40% 49% 49% 59% 86% Faster response to changing data management needs Improved message delivery Less time spent on data management Improved data analysis and segmentation Access to otherwise-unavailable data Less reliance on IT resources Improved orchestration of customer treatments across… Improved message selection and personalization Improved predictive modeling and recommendations Create unified customer view Benefits Expected From a CDP Source: CDP Institute, 2019 Deploy incrementally
- 49. 49 44% 22% 11% 11% 11% 29% 11% 31% 19% 9% increase customer loyalty increase customer lifetime value increase average order value increase conversion reduce bounce rate %CompaniesUsingthisMetric Primary Personalization Metric vs ROI 3x ROI 1X ROI Source: Monetate, 2019 Personalization Development Study Measure long-term metrics
- 51. 51 CDP is a Tool •Learn what it can do •Pick the right one •Use it properly
- 52. 52 Questions