What’s the benefit of the Customer Data Platform for your digital business?

A Customer Data Platform (CDP) can link all applications for both transactional and analytical purposes. If you’re wondering why your business should consider using a CDP, you’re in the right place! In this article, we will go over the customer data platform and discuss detailed its benefits. 

Before we start, let`s find out what is Customer Data Platform and why is so important for your business.

Customer Data Platform – An Overview

CDPs are used to organize and integrate consumer data into a single database. These tools provide marketing teams with the relevant insights they need to run campaigns. A CDP can gather data from online and offline outlets, such as websites, mobile apps, and email channels, to provide a comprehensive view of your customer. After recovering this information, a CDP will assist companies in predicting the best next step with a specific customer. It allows companies to learn what steps have to take to attract specific customers. Customer service teams may also use a CDP to tailor their support to each client. Email software, data warehouse software, and other data storage systems may integrate.

Now, as we already know what is CDP, let`s find out all the benefits that it brings to your business. 

All Data in One Place

Is it the data from the first, second, or third party? The answer is – all of them and all in one place. Companies also fail to combine and use all of the data they collect. Since data streams are coming from many sources, it is impossible to get a complete image if the information is not structured.

Now, many brands can collect data from all possible touchpoints, both online and offline, in one location. This integration allows them to understand their customers better and achieve their mission of being customer-centric.

Customer 360-Degree View

A 360-degree view of the customer allows businesses to recognise every stage of the customer journey, as well as goods and transactions. It assists the company in better understanding its customers and their behaviour. As a result, having a complete image of the customer allows sales, marketing, and support departments to strategically sell the enterprise’s goods to the right customers at the right time.

This 360-degree perspective is one of the reasons businesses has grown so quickly. With a greater understanding of their (potential) clients, the company can sell their goods more effectively and dramatically increase figures such as the conversion rate. All of these advantages contribute to the main focus of any business: increase sales. A higher level of satisfaction contributes to increased loyalty and a better work environment.

Long-term learnings and campaign optimization

The use of a customer data portal enables insight into the success of individual initiatives. Marketers will see the effectiveness and outcome of the campaign they want to analyze by introducing a consumer data framework. Marketers may enhance their efforts to promote a product or service in the future by having a thorough understanding of the product or service.

CDP does not only have insights for resolving immediate issues such as excessive promotional spending for the targeted audience. In the long run, marketers and businesses can benefit from using consumer data management platforms. Every time a campaign can be changed favourably by using the customer data management tool, the company can learn and improve its efforts for the next time. The budget has been saved, and conversion rates will rise in the future.

Identifying new audiences

Having all of your information in one location makes it easier to segment your clients and audiences, as well as apply simple and advanced analytics. Even though the customer data management tool does not perform segmentation, it can be of great assistance. Marketers must continue to set the requirements for the segmentation of multiple target groups using software that sits on top of the web.

When working with all of the data, they can discover new audience segments such as online spenders, loyal customers, or discount shoppers. Marketers may then further segment each of these segments based on factors such as gender, age, place, and target similar demographics. Since the parts are smaller, the targeting and messages may be more precise.

Increased Profitability

CDPs, when used correctly, can result in a company’s ultimate goal: an increase in sales. The enterprise will build a full view of the consumer by integrating data from all sources. As a result, the possibility of well-targeted marketing to the right people with the right message could increase brand awareness and customer engagement. Because of this, conversion rates are higher.

Cost-cutting measures

Since the data is primarily persistent in the customer data management platform rather than the app, you can reduce costs. A central view also saves analysts a lot of time when it comes to data collection and cleansing.

Observation

Having all of your data in one location makes it easier to comply with GDPR and E-Privacy. It allows the organization to anonymize your contacts. Furthermore, since these activities can be completed with a single source, customer data management systems help data portability and data insight requests. Achieving these tasks in broken data stores will be nearly impossible.

Significantly reduce vendor lock-in

Crystalloids construct the customer data framework by loosely coupling the applications. Your data’s persistence is mainly in the knowledge supply. Since the migration is smooth, switching apps is easy. It’s no surprise, given that the data is permanent in the CDP.

Provide a Better Experience for Your Customers

You are not only increasing profits and earnings for your business by gaining insight into your prospective audience. You are also improving the customers’ purchasing experience. Let’s face it: customers receive plenty of emails (as well as print advertisements in the mail) every day. The majority of these advertisements would be discarded. People do not want to be bombarded with advertisements that are neither interesting nor important to them.

More Information About Your Clients

Data, on the other hand, will provide you with a wealth of knowledge about who your audience is and what types of advertising and marketing messages they are interested in. Customer satisfaction surveys and focus groups may be used to gather this information. When your customers see that you care for their experience with your brand, they will be more loyal and likely to do business with you again.

 Increases Opportunities for Cross-Selling and Up-Selling

Data-driven marketing can provide insights to help you pass prospective customers through the sales funnel more quickly and cost-effectively. Furthermore, data will help you identify previously unnoticed opportunities for cross-selling in the sales funnel. After purchase, data will provide you with feedback and ideas for keeping users satisfied post-purchase. This post-sale partnership will result in loyal customers who make additional purchases in the future. The friendly buyer’s journey experience provided by data-driven marketing can also influence converting the clients to be more likely to upgrade or be upsold.

So, are you ready for a Customer Data Platform? Get in touch with us, our services include cloud and on-premise solutions. Get the above benefits and much more.

The Lucky Wheel – how to collect 4x emails with interactive campaigns

We had interaction campaigns for a long time. Probably 10 years now, since they were added just after email campaigns, that we started with.

With Interaction campaigns, you can show static messages, run dynamic popups based on site variables or even collect user input information with embedded forms. Although we supported running custom Javascript within those templates, things were quite limited.

Now it’s the next level, where interaction campaigns can have lots of custom Javascript. And the first one will be the Lucky Wheel, a dynamic collector of emails, with incredible results in our tests.

How it works. Lucky Wheel in action.

How Lucky Wheel works

Quick snapshot of configuration section for the lucky wheel.

Colors available, text and labels are configurable. And you can always come to use for help.

Click here for a full configuration article

March product update

We’ve been working in the last month on the following:

  • User Tags – you can easily add and now remove tags from users
  • Interaction campaigns – we’re sure they work on any website and our editor correctly deals with css
  • Countdown Timer – Generate Urgency by having an animated GIF added to your emails
  • Leave Intent – A new smart trigger (different from Exit Trigger) that can be used when clients try to leave your website for real.
  • Invoice Feedback – A feedback survey link is inserted into our outgoing invoices automatically. Please take 2 minutes to complete.
  • Newsletters – We’ve prioritised newsletter sending before recurring campaigns and created more parallel workers to send those.

GDPR meaning for e‑commerce businesses

The EU’s General Data Protection Regulation (GDPR) comes into effect 25 May 2018.

But what does this mean for e-commerce businesses, being known the fact the online shopping is using the most tools that might interfere with the rules.

What is GDPR?

GDPR is a new Regulation with European Union, that will force all companies that are based in or who do business inside the EU, to comply with strict new rules regarding the collection, storage and use of customer data.

All forms of customer data: photos, social media posts, IP addresses, bank details and any identifying numbers such as NI or SSNs are equally important. All all this data, regardless of origin should be opt-in only, stored securely and used only with the customer’s permission.

However, the GDPR rules are not set in stone. They have asked for a “reasonable” level of security to be provided, leaving a grey area as to if social media data should be treated the same as bank credentials. One thing is clear, users must give clear opt-in consent for their data to be stored and used in any way.

Pre filled consent checkboxes (for example in email subscription forms) and consent hidden in long T&C’s will be a thing of the past.

GDPR distinguishes three profiles when it comes to handling data:

  1. The Data Subject: The customer, user, employee, site visitor – anyone providing identifying personal data.
  2. The Data Controller: The businesses offering services or goods who control this data. They are responsible for the safe storage and use of the data, and need to state how and why the data is used.
  3. The Data Processor: Usually they are service providers, like ERP systems, Vibetrace, Ecommerce platforms, UPS and any internal teams employed to do similar work, such as an internal accounts team.

How will this affect e-commerce businesses?

The GDPR applies to all databases, marketing, sales, HR, accounting; Any way data is stored or processed, will fall under the new regulation.

Read more about these findings GDPR statement

Clear consent for marketing activities

As mentioned above, data subjects (customers/employees/users) must actively opt into marketing activities. Pre-filled checkboxes or consent below the fold or hidden inside TOS won’t work any more. Whilst this has been best practice from many marketers, what may impact some is the  “Use of data for 3rd parties” checkbox, of which now must list the third parties that may have access to their data specifically.

All of the above will impact the marketing industry, especially when it comes to personalisation, profiling and any marketing activities that involve big data processing.

The right to be forgotten

It must be easy for customers to not only edit their data and remove consent to marketing activities but also to delete their information entirely from a system. Whilst many companies offer account deletion, it can be an extended process nowadays.

The process to remove data must be easily found, well documented and advertised for those looking to remove their personal data.

Immediate breach response

As of May next year, both controllers and processors of customer data will need to abide by the GDPR. For larger companies, a Data Protection Officer must be appointed, whose first responsibility is to report data breaches and misconduct to the ICO. Online businesses must have a stringent procedure to follow when a data breach is detected and report to both the ICO and data subjects within 72 hours.

Increased fines for non-compliance, breaches, and misuse

The transition may be easier for e-commerce companies operating in the cloud. Large entities will have the resources to commit to becoming fully compliant, and begun work on a solution when the regulation was announced over a year ago. Businesses that rely on in-house servers or custom-built software will need to hire a team to audit and test their security for weaknesses and put in place processes to protect the data from input to deletion.

How Vibetrace deals with GDPR will be presented into a dedicated page.

 

Ask customers to whitelist your email and add to contact list

With all this email spam around us, is good to ask your customers to whitelist you as an email sender. Some systems mistakenly send emails into spam, so your users won’t benefit from that email.

Below is what we recommend to do to whitelist our email sender (hello vibetrace com)

Continue reading “Ask customers to whitelist your email and add to contact list”

Best Marketing Calendar 2018 – UK, US and Australia

It’s never to late to know what you’re working on during 2018. Like any other year planning your marketing campaigns based on a calendar is the best way to convert like crazy.

So here it is, an infographic for the 3 countries with mostly English speaking population: US, UK and Australia.

Continue reading “Best Marketing Calendar 2018 – UK, US and Australia”

A/B test multiple email providers. Unique Feature!

What are you using to send emails? Is it your own server, or you pay one of the biggest providers?

If you use one of the most common email marketing services, they probably have built their own ESP or use a most common one (like one of those below).

 

There are many that allow to integrate through API’s or use a simple SMTP connection. Just to remember a few:

Continue reading “A/B test multiple email providers. Unique Feature!”

11 Questions for Your Customers. #7 is a must!

End of year 2017 is very close. Feedback is more important than ever if you plan to build a solid business.

 

Regardless the role you have running the business is important to ask questions and secondly to ask the right questions.

First is important how you ask those questions. You have lots of questions and want answers to all of them at once, right?

In order to get some valuable feedback you need to split them in to bit-size chunks. That means one question at a time. Our solution allows you to ask polls with a simple question, so use them from Poll campaigns.

There are cases where it is possible to have 2, 3 questions or even more. But right now we will focus on the most important cases to ask only one questions at a time.

Here are 10 questions you should ask your customers:

Before purchasing

1.How did you first hear about us?

Learn which sources bring the most customers. (correlate answers with people who purchase).

2. What is your main problem you want to solve?

Probably your marketing message is not the one that will match customer needs.

3. What do you like most about our product/service/shop?

Improve marketing messages to promote the most delighting aspects of your business.

4. What is something that we need to improve?

You can’t wait to read the answers and start working on that, isn’t it?

5. What made you choose us over competitors?

Use information here to self-promote because this is something clients already use it when talking about you.

6. What do competitors do better than us?

Clients always compare options, so it’s better to see how they consider your competitors. Improve your business by learning competitors strengths.

7. How likely is that you would recommend us to a friend or colleague?

Net Promoter Score and if you haven’t used it already now is time to do it.

8. If we have ever exceeded your expectations, ca you give us an example?

Maybe your products are better than in the pictures, or the delivery guy was just in time to bring in the present.

9. Have we ever failed to meet your expectations? What happened?

That’s also something you want to get fixed as quick as possible and to make sure it never happens again.

10. How would you find about a business/service like ours?

Important to know where to promote yourself, where your customers spend time for research.

11. Do you have any questions or suggestions for us?

Open question, here you let the customer be as open as possible with you.