Does my marketing team need a Customer Data Platform (CDP)?

Original article can be found here (source): Artificial Intelligence on Medium

Does my marketing team need a Customer Data Platform (CDP)?

How do we identify the need for CDP within your marketing organization?

Marketers can have a challenge from siloed data to right segment generation to orchestration etc… The modern marketer needs a modern marketing team with modern tools.

To match their needs with the CDP, it’s important for them to write down their problem statements. I have taken 3 categories to classify these questions:

  1. Customer experience
  2. Paid Media optimization
  3. Operational Efficiency

CUSTOMER EXPERIENCE

  • Can I know which of my leads has the highest probability of converting?
  • How to engage my audience with the right message, the right product at the right channel that is targeted to their need at that moment?
  • How can we identify at-risk customers and increase customer loyalty?
  • How much I should spend on each customer until they are profitable?
  • What marketing activity is the most effective for customer retention?
  • How to create audience segments from my 1st party, 2nd party & 3rd party data for creating prospect list?
  • How to do look-alike modeling for my high ROI customers?
  • How can we enable multi-Touch Attribution modeling vs First/Last Click?

In the next post, will write questions for other two categories:

Operational Efficiency

Paid Media Optimization

Do check out other posts on CDP

Customer Data Platform Evaluation Criterion

RISE OF CDP

CDP : Operational Efficiency