CDP: Driving productivity in marketing and sales

According to reports from Forbes Insights, the amount of time that marketing specialists spend understanding statistical results on the performance of a campaign and making improvements to the customer experience based on this is too high compared to other commonly performed activities. 47% say it takes more than a week and another 47% say they invest three to five days. Only 19% say they have a “robust set of analytical tools and technological services that support data-based customer decisions and campaigns”.

Meanwhile, for sales teams, having a view that shows customers and prospects to contact based on their level of probability to purchase, engagement history, and other relevant data saves them a lot of time searching for candidates to contact, and they can focus more easily on those users with a high probability of closing a sale and generating growth for the company.

We know that in the current digital era, data is what moves the world, and when it comes to companies, it is their engine and soul. The marketing and sales teams of a company depend heavily on this data to create personalized campaigns and target the right audience with the right message. However, with the overwhelming amount of data available, it can be difficult for these teams to organize and analyze it efficiently. This is where customer data platforms (CDPs) come into play, which as we saw in our previous article, offer various advantages.

Some of the benefits that a CDP offers to marketing and sales teams when using it are:

1. Improved quality and accuracy of data

One of the main advantages of using a CDP is the improvement in the quality and accuracy of the data obtained and related to customers. CDPs use advanced algorithms and machine learning to clean and standardize data, ensuring that it is accurate and up to date. This helps marketing and sales teams make informed decisions based on reliable data, which in turn leads to more effective campaigns and higher revenues.

2. Enhanced personalization

CDPs help marketing and sales teams create personalized campaigns that have a better impact on their target audience. By analyzing customer data, CDPs can identify patterns and preferences, allowing companies to tailor their campaigns to specific customer segments. This contributes to improving the customer experience and achieving higher engagement and conversion rates.

3. Streamlined workflows

CDPs automate many of the manual tasks of collecting, organizing, and analyzing customer data. This saves marketing and sales teams valuable time and resources, allowing them to focus on more strategic tasks. For example, instead of spending hours manually collecting data from various sources, teams can simply access the unified customer profile created by the CDP and perform the query in a couple of clicks.

4. Improved collaboration

The CDP creates a centralized location for customer data, making it easier for marketing and sales teams to collaborate and share information. Additionally, process information and any other interaction that the user may have been preserved with an up to date and easily accessible timeline. This achieves better communication and alignment between teams, which in turn leads to more effective campaigns and higher revenues.

5. Improved ROI

By improving the quality and accuracy of customer data, enhancing personalization, streamlining workflows, and improving collaboration, CDPs ultimately lead to a better return on investment (ROI). According to a recent Forbes study, companies using CDPs experience an average 15% increase in marketing ROI.

The benefits that can be obtained from a CDP are not limited to management ranges, there are many more areas within the company that can benefit from this. When you have a CDP, it is much easier to share audience information knowledge between departments. With this centralized, consistent, and quality data, visualizing and attacking opportunities becomes a less complex task in less time.

If you need help implementing a CDP or are not sure where to start, do not hesitate to contact the Quaxar team.

Source: www.empresaactual.com/customer-data-platforms-cdp/