Questioning the performance of your Martech Stack? The right CDP removes any doubt.

 In Customer Data Platform

Leverage the game-changing capabilities that a data-first CDP provides.

In a world of widespread overlapping martech capabilities, it may seem counterintuitive to add even more technology… but if you build in the right place, that just might be your secret weapon to optimizing your overall tech stack investment. What is the “right place” to build? Read on!

Gartner released research showing that brands are only utilizing about 60% of their tech stack’s capabilities. 😳

That’s a failing grade. And to top it off— we often even see those tools that are utilized, aren’t used to their full potential.

Luckily, solutions have emerged, and (more pertinent) the appetite is there for organizations to fix the primary problem at the root of these issues…a lack of proficiency with customer data.

Customer Data Platforms (or CDPs) have emerged as a force multiplier for your customer-related technology platforms. CDPs help ensure the right data is collected, unified, and then delivered at the right time through key MarTech tools. Gartner refers to the concept of Linchpin Technologies, and states that to maximize digital marketing investments you should “prioritize adoption of complementary martech products like Customer Data Platforms (CDPs) and marketing applications of data science and machine learning tools and techniques.” Companies that best leverage data for their Customer Experience (CX) report significant lifts for:

  1. Understanding their customers
  2. Productivity of internal teams
  3. Efficiently winning new customers.

Without a customer data solution in place, your messaging tools will act without complete customer context. It means you could miss engaging customers in the moments that matter because it took too long to find the insight. And you have to spend a ton of time manually and inefficiently wrangling data and integrations for something that just shouldn’t be that hard. Add it all up, and it’s a solution that’s LESS than the sum of its parts.

Fixing it really does start with having the right data, and using it effectively. Your MarTech tools will not provide the optimal impact if complete and accurate customer data is not being used. This is why we see these capabilities duplicated in so many systems…data is important. We find that the following nine capabilities are duplicated and siloed across tech stacks leading to exponential downstream issues:

  • Data Collection
  • Data Definition
  • Data Enrichment
  • Identity/Customer View
  • Segmentation
  • Consent
  • Engagement Rules and Decisions
  • ML
  • Database

Not orchestrating these intentionally is a business killer. And it’s too important to daisy-chain each individual system together with integration tools not purpose-built for the job. By devoting a layer in your stack to customer data itself (the CDP), the entire tech stack benefits. Systematically orchestrating these capabilities through a central hub, we see significant benefits not only for CX, but internal operational efficiency.

So the “right place” to unlock the power of CX is at the data management layer.

Want to go deeper? Check out our white paper exploring these 9 capabilities deeper and the benefits that arise as you orchestrate each capability.

 

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