Difficult to discuss the subject of analytical data without returning to the way in which models, tools and “business” management processes have evolved over the past thirty years. While the approach was for a long time almost exclusively driven by IT and technology, we are witnessing a gradual change including marketing in decision-making …
This new form of maturity has emerged due to a shift to the user experience and a better definition of the needs of business users. Today, all the major management and analytics solutions have incorporated these changes and give users control over their data management. This is how the data visualization and the data storytelling making users more autonomous with a flexible, scalable system and simplifying access and interpretation of data in order to make the right decisions at the right time.
In this very evolving ecosystem, the role of marketing is crucial. While he has often been questioned or questioned about his ability to demonstrate in a quantifiable and factual way his contribution to the commercial performance and growth of the company, he now has the means to finally demonstrate for each project , initiative and campaign, its real contribution to sales and the effectiveness of its investment choices.
Hyper complexity and hyper diversity of data that does not facilitate the work of marketing
Marketing teams work in an environment where multiple internal and external forces exist. This complexity is characterized by:
- An explosion of data sources;
- The great diversity of data types;
- Their dispersal within large ecosystems;
- The need to anticipate or be as close as possible to facts and events (thus inducing a strong need for real-time analysis);
- The need to find the right balance between centralization and decentralization of production of “customer-related decision-making”;
- Overcoming the biases in the analysis process in order to operate on a truly reliable analytical reference system.
Producing recommendations and leaving dashboards and analyzes in this situation is therefore a delicate mission. Not to say nebulous. However, the tools used quickly reach their limits due to limited functionality or ill-defined needs. Companies must then reinvest in related tools, adding a new technological layer in an already high complexity of applications.
Most companies, and more specifically marketing departments, use on average more than 20 different applications for their operational missions.
The CDP: a single environment to unify management
If the analytical potential of CDP (Customer Data Platform) is very real, this is only one facet of the tool. They have a fundamental role to play in decision-making and the operational activation of data, but not only.
Thanks to Data Lake architectures and editor design choices, analysis functions are enriched in the cloud thanks to embedded machine learning and data visualization in order to constitute the new environment allowing to unify all the piloting and governance processes linked to the customer experience.
There are then business-oriented or “transactional” dimensions and more sensitive dimensions such as those linked to monitoring compliance with the GDPR.
Having a platform capable of managing in real time a comprehensive, non-duplicated and up-to-date panorama of customer-related data is a game changer for companies. This paradigm shift opens new doors like truly understanding a brand’s customers, prospects, segments and audiences across many dimensions.
Who are my known and identifiable customers? Who are pure prospects? What turnover, customer value, LTV indicator or average basket per unit customer or by segment? What loyalty rate? What appetite for promotion? What consents do I have? What traceability on these consents? What is the trend in collecting these consents according to channels?
Which vision aggregated by type of segment? So many questions that will quickly find answers.
And these are just a few examples of the many possibilities offered by a CDP to analyze, enrich and structure data on classic segments, personalized on the basis of specific personae, and enriched with external data such as socio-demographic information, lifestyle , purchase intentions, interests, etc.
A consolidated vision to finally draw the full potential of its data
Consolidating all your data is a key success factor in carrying out relevant campaigns. This is why the CDP also makes it possible to aggregate all the data, requests and incoming and outgoing interactions between the brand and its customers to integrate into the management perimeter and considerably simplify the consistency of the experience delivered to the consumer. .
So, whatever the screen, the media, the mobile application, the channel or point of contact linked to the interaction, the actions are consistent, relevant and with high added value. And this, regardless of the business application enabling data to be activated and producing this interaction: DMP, campaign management tool, customer service management tool, website, merchant site, fixed or mobile collection system, etc.
If the well-known conventional indicators remain useful, such as the opening rate, the CTR, the CTA, the number of views, the number of impressions and the bounce rate, we can now finally move towards a relevant attribution. Essential to know on which channel to invest.
The CDP goes far beyond analytical capacity, which cannot be reduced to a simple descriptive dimension. It is also part of a predictive and prescriptive approach in order to be able to test, model, evaluate and project new activation scenarios on underused but high potential audience segments or on new customer journeys than either in acquisition or loyalty.
Exploration and testing are at the heart of the analytical reactor of a CDP. They are finally making possible new forms of governance across the spectrum: from the ability to imagine new strategic directions to the real-time and continuous optimization of operational activation tactics.
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