A Customer Data Platform (CDP) is a system that collects and centralizes data from multiple sources to create a single view of a customer. A CDP can be used to gather data from various channels such as website behavior, email interactions, and purchase history. The goal of a CDP is to provide a comprehensive understanding of the customer, which can be used for targeted marketing, personalization, and analytics.
A Customer Relationship Management (CRM) system, on the other hand, is primarily used to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth.
In summary, CDP is a technology that helps to create a single customer view, while CRM is a strategy and set of processes to manage and analyze interactions with customers. CDPs and CRMs can be used together to better understand and engage with customers.
E commerce businesses should not focus only on attracting new customers and new leads but also investing in existing customers. Repeat customers, Loyal customers and Customers that become your store’s promoters are the most important KPI’s that you should focus on . For that you need to invest in CDP (customer data platform) . It is a system that identifies a user and collects information about him wherever possible.
The purpose of using all the data obtained about users is to personalize marketing messages, which will exalt their efficiency and increase profits, form loyalty, and keep the customer close to you.
If your service or product is relatively new on the market, you continue to use a CRM system, and the customer database is not that big, then it is worth delaying the transition to CDP. There will be a scale — there will be a need, and most importantly — a benefit for your business.
Recommended Customer Data Platforms
- Segment: Best Overall for Real-Time Personalized Customer Journeys.
- Emarsys: Best for Automated Omnichannel Customer Engagement.
- Optimove: Best for Predictive Segmentation.
- FirstHive: Best for Manufacturers.
- Lytics: Best for Expanding Advertising Reach.
Follow the smart use in CRM and/ or CDP you should also invest in Conversational Marketing with existing and new customers . that can be implemented by using a ChatBots. The business has been introducing chatbots for years, because the market is constantly changing, and e-commerce is increasingly in need of this technology.
Many customers need to be in touch with business 24/7, and most of them prefer to make purchases using chatbots, avoiding telephone conversations, according to Oracle research.
On top of that, online store owners want to minimize costs, and a chatbot in this regard is an excellent and inexpensive solution for the money saved by the business in the future. Having paid once for the development of such an application on the site, the business will be able to reduce unnecessary personnel costs and increase the number of sales and returning customers, thereby increasing the profit of the business.
Today, technology allows you to implement more functions in chatbots in addition to elementary scripts.