The promise of Customer Data Platforms or CDPs is an appealing one for marketers and leadership teams alike: unify customer data into an accessible and regularly updated golden customer record. But it can quickly become a daunting endeavour, here are some of the ways you can make it less "stressy and more "successy".
Find collaborative, forward-thinking and hard-working professionals who want to get their hands dirty.
One of the biggest mistakes companies make with CDP implementation is not bringing the IT and Marketing teams together to make sure the integration delivers the promised benefits of the investment. Just like a pilot and co-pilot running through an extensive checklist prior to take-off, companies should assign executive leads from IT and Marketing to work together on their CDP implementation.
This team could include a combination of roles like CRM Manager, CTO, Customer Experience Leads, Email Marketing, Content, Social, Marketing Ops, Analytics/BIData, Dev/Engineering, and more.
They'll work to improve communication between departments while simultaneously breaking down silos between people and tech, as well as undertake the next steps.
Many companies make the error of evaluating CDP vendors on technical capabilities without first identifying what the business needs and use cases are. Identify which use cases matter most, why they matter and what ROI they are expecting.
Examples include better user acquisition, less churn, more robust conversion rates, and adherence to data security and compliance standards. Use cases must have measurable KPIs so that you track progress and make real-time adjustments.
Identify sources of data and look at the accuracy, maturity and quality of that data. Who owns it? Where does it come from, and what are the dependencies across departments?
You're most likely collecting and housing data from multiple systems such as your website, CRM systems, marketing technology, store networks, mobile apps, customer support and more.
What are the quick wins that will deliver value quickly, and what will need longer-term planning and coordination? This stage is really about understanding what data you have, while the next step is identifying the information you want.
Now that you're clear on the current state of data and the sources associated with it, it’s time to address how an ideal customer profile might look.
Put yourself in your customers' shoes - what store information makes it easier or more enjoyable to buy and engage with your brand time and time again?
A CDP implementation is a long-term investment in your known customer asset. As customers mature with the brand, they become more valuable to the growth of the business; by understanding and optimising key customer lifecycle stages, you create a shared understanding among stakeholders and become better equipped to address key customer challenges and data optimisation opportunities.
Here are some of the most common buckets customers fall into:
And Engaged vs Disengaged, for example, are they onsite, opening emails or visiting stores?
You can find some ideas on how to optimise for key stages in our series "Incentives throughout the customer lifecycle."
A business doesn't stop once CDP implementation is complete: business needs will change, teams and individuals will move, and the technology itself will evolve.
It's essential to take a long-term view when assessing the value that a CDP will provide, setting goals for it, and making sure the technology is resourced appropriately. A robust data foundation, paired with a strong strategy, can become a long-term roadmap for years ahead.
After initiatives have been defined and aligned, it's time to prioritise. We like using MoSCoW analysis, but if that's not your jam, check out these prioritisation techniques.
Make the data available to customers and the people who serve them first; this is when you can ultimately trust that the data, by virtue, will be valuable to your marketing and insights teams.
The success of the CDP depends on not only the implementation but also the subsequent onboarding and adoption of team members. Having identified owners in key departments, post-implementation sets you up to best utilise the new tool over time.
Close the loop -report on overall success, and relate it to initial strategy and use cases. Ensure internal and executive alignment still exists and come back to the "Why" you initially implemented the Customer Data Platform.
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Businesses are feeling the very real effects of fragmented customer data every day. IBM estimates that bad data costs the US $3 trillion each year 😲 😲 and customers are becoming equally tired of fragmented and impersonal experiences
Can your customers truly pick up where they left off with your brand, or are they starting from scratch with every interaction? If not, get in touch at hello@omneo.io
Tess O’Brien
