Data serves as the fuel for the digital economy of the twenty-first century. That is why customer data is so valuable to customer-focused organisations. The customer data platform (CDP) comes into play here.
Customer data platforms CDPs can provide you with useful information on potential prospects and clients. As a result, you may more accurately forecast the next stage in the customer’s journey and build appropriate tactics to nurture and keep them.
Let’s learn more about customer data platforms CDPs, their benefits, and, of course, the finest platforms for your firm to explore.
What Is the Definition of a Customer Data Platform (CDP)?
Before we go any further, let’s review the fundamentals of CDP. A customer data platform (CDP) is a marketing system that gathers customer data from numerous marketing and non-marketing sources.
It also stores data about your customer’s interactions with your services and products in a database with individual profiles for each customer. Customer data platform providers assist businesses in enabling customer modelling and optimising the timing of targeted initiatives such as communications and offers.
How Do CDPs Aid Companies in Customer Acquisition?
Customer data platform businesses provide several advantages to your company. Aside from providing you with a comprehensive view of your clients, CDPs may also provide you with the following advantages:
Keeping Customer Data Organized
The whole process of customer data management includes gathering, organising, and using your customers’ data. The purpose of CDPs is to make this multi-step process as smooth as possible by arranging the data in a useable manner.
Though it may take some time to set up a CDP, once you’re up and running, you won’t have to worry about its upkeep.
Customer Analytics Data
Customer data analytics allows you to better understand customer behaviour and make better business decisions about product development, marketing, and sales. Customer analytics revolves mostly around data gathering, organisation, storage, and analysis.
These components may not be relevant on their own, but when combined with a customer data platform, they may provide valuable customer insights. Furthermore, CDPs will be of tremendous assistance in increasing customer loyalty and retention.
Increased Data Privacy
Consumer data protection and privacy are more important than ever before. You must respect customer data privacy. When you employ a customer data platform, you limit data collection for marketing purposes while still protecting data privacy.
Every organization’s ultimate goal is to increase income. If you utilise a CDP correctly, it will increase revenue through intelligent targeting and improve customer happiness.
Because it provides you with a comprehensive view of the customer, you can provide the proper marketing message to them at the right moment. All of this will lead to improved customer engagement, higher conversion rates, and, of course, increased income.
Campaign Optimization and Long-Term Insights
Companies can also use a CDP to acquire insights on individual campaign performance. Because it allows you to observe the efficiency and results of the campaign, you may learn how to enhance your marketing methods.
Aside from fixing urgent marketing issues, it will save you money and help you design stronger campaigns in the long term.
You don’t have to worry about guaranteeing GDPR compliance across multiple platforms or technologies if you utilise CDP to store customer data. In addition to anonymizing contacts, it facilitates data portability and data insight requests from a source platform.
11 Best Customer Data Platform For Your Business
While there are other customer data platforms available, the following are the top platforms with very valuable characteristics.
CareCloud develops a comprehensive 360-degree customer picture by gathering both digital and physical customer data, with a special emphasis on retail and e-commerce.
Native applications enable you to filter target audiences and rapidly launch email, SMS, or push campaigns. With automation processes, you can automate the whole customer journey. The pre-made workflow bundle is a huge benefit that allows you to get started with automation immediately.
Robust analytics and prediction tools assist you in staying on top of customer data and appropriately monetizing it-a big benefit of CareCloud is native RFM segments accompanied with recommended actions to drive increased CLV and retention rate throughout the whole customer base.
The Loyalty Engine is a fantastic tool that allows you to build up a customer loyalty programme based on points or membership levels in a user-friendly environment.
CareCloud is an excellent CDP for organisations who want to directly monetise the data on their platform without relying on external marketing systems.
2. Heap Analytics
Due to inaccurate data, business organisations frequently fail to see their consumers’ genuine digital experiences. Heap Analytics may assist you in this area by giving you a comprehensive picture of every activity taken by a user on your website or product.
This customer data platform’s behavioural data will point you in the right direction to improve your business by providing a better customer experience to your users. It also includes straightforward visualisation capabilities that enable teams to rapidly discover the information they want.
Segment is a customer data platform that collects, cleanses, and activates customer data before routing it to various integrated destinations. Its popularity is due to its features such as easy setup, real-time tracking, and configurable dashboards.
This platform’s robust integrations are a key advantage, allowing you to easily include a new service into your company statistics. Other features include customizable data pipelines, manual analytics, importing and converting customer data, and cross-channel engagement design.
If your company has contemporary data teams, you should choose Jitsu, a completely scriptable data intake engine. It simply takes a few minutes to set up a real-time data pipeline on this open-source CDP.
More than 140 external data sources are supported, including Google Analytics, Google Ads, Facebook Ads, Redis, Amazon Ads, and Amplitude.
This implies that this platform can create completely accurate profiles for your consumers. By examining the IP address, Jitsu can also filter bots and discover geo-location. It can also send data to places like Google Analytics, Facebook Pixels, and numerous popular databases.
Because Jitsu is open-source and accessible as a self-hosted solution, you may use it on your preferred cloud hosting platform. Docker deployment is also supported.
CustomerLab is a no-code customer data platform company that may be used to acquire first-party data from websites, CRMs, and servers. Furthermore, it aggregates all the data to produce a single profile for a customer and provides the synchronised data to any MarTech stack product.
You may also construct granular user subgroups based on attributes and events. This CDP can assist your organization, whether you are in the eCommerce, SaaS, agency, B2B/B2C lead generation, or SMB market.
Tealium AudienceStream is an appropriate CDP for businesses who wish to consolidate fragmented data from several sources into a single platform. It supports you in strategic decision making by providing you with predicted insights based on machine learning.
To keep your organisation legally secure, our customer data platform includes consent management and regulatory compliance. Furthermore, it easily identifies visitor behaviour trends and assists you in increasing customer contact using audience emotional intelligence. You can use any of its 1300+ turnkey integrations to integrate any tool into your system.
SALESmango is an AI-powered customer data platform that enables you to maximise your organization’s development by leveraging first-party data. It collects data from numerous touchpoints and sources to produce a full customer profile in an ongoing customer database.
Using a single customer identity, you can easily manage a customer’s structured and unstructured data on this platform. It also enables tailored omnichannel communication based on customer preferences and behaviour. You can also utilise its AI Predictive Analytics tool to figure out what to do next.
Customer retention is critical to corporate development. WebEngage is a full-stack retention operating system that also serves as a strong customer data platform, customization engine, analytics engine, and cross-channel campaign manager.
Bringing data and analytics to the forefront aids in the development of a strong data culture, allowing you to construct marketing plans based on the findings. Marketing campaigns may also be used to deliver the correct message to the right audience.
Companies may use BlueConic CDP to convert customer connections and accomplish their revenue targets by accessing first-party customer data from anywhere, at any time.
It can convert all acquired data into actionable attributes and save them in a single customer profile. This platform represents each customer with a unique identification and provides you with high-quality data for better business outcomes. You may also use this tool to generate multidimensional segments and deploy predictive models.
Autopilot is one of the greatest customer data platform businesses, bringing together all customer data, marketing channels, audiences, and data analytics on a single platform. With a 360-degree picture of each customer, you can identify and target the most valuable audiences.
To link your customer data, this CDP allows interaction with platforms like Facebook, Shopify, Zapier, WooCommerce, Recurly, and HelpScout. Examine the information on its dashboard and use its analytics and reports to take action.
Do you want to provide your consumers with tailored 1:1 marketing? If so, go for BlueVenn. This customer data platform brings together all customer interactions to provide a single customer view with no duplicate records.
Through trustworthy records of each click, open, visit, transaction, like, and engagement activity, you can readily see a customer’s journey. The single view will reduce data silos and provide access to all teams. Furthermore, it allows you to centrally manage customer preferences and consent.
Moving to a customer data platform is a better choice if you’re having problems maintaining several legacy systems for customer insights or aren’t obtaining the required results. These platforms act as a centralised hub, collecting data from many sources and consolidating it into a single database.
Your organisation may design a customised digital marketing plan by leveraging crucial data such as user feedback, customer service data, and campaign stats obtained by CDPs.