The customer data platform (CDP) is the new must-have for companies that want to use their customer data to drive revenue and growth. But simply getting a CDP isn’t enough — you need a high-quality solution in place to ensure that your business gets the most value out of it. Startups need to get their hands on quality customer data just as soon as they can. But you may have heard the horror stories of some businesses that have bought low-quality customer data, only to find out that it’s inaccurate or incomplete.
Here’s what you should be looking for to identify the right partner for your organization.
Conduct a systematic review of the quality and completeness of the data you buy
Data quality is one of the biggest problems with customer data platforms today. It’s not a problem that’s going away, either. The Data and Marketing Association recently surveyed 1,000 marketing executives in North America and found that a full 75 percent of respondents were concerned about the quality of data being sourced from third parties and vendors. Even more worrisome is the fact that only 5 percent of marketers in the survey said they were very confident that the data they’re using is accurate, while 20 percent said they were not confident at all. That’s the bad news. The good news is that you can do something about it. And that is to conduct a systematic review of the quality and completeness of the data you buy.
Make sure the data helps learn from them
Buying a data management platform can be a tough choice. There are a lot of factors to consider, from price to the number of integrations. And the devil is always in the details.
Are you sure the data platform you chose has helpful information? The thing to remember is that a data platform is going to be a long-term investment for you and your company. So make sure that whatever you are looking at buying is going to be the right thing for you. A data platform is only going to be as good as the quality of the data that goes into it. So make sure that you have a clear understanding of what data you are going to get from your data platform. Or else you may be wasting your time and money.
Use a data analyst to analyze your customer data
Customer data platforms (CDPs) are rapidly gaining popularity as a way to manage and integrate customer data, and that’s for good reason. Many businesses have mountains of customer data stored in various systems, silos, and spreadsheets, making it nearly impossible to access their customer data when they need it. But with a CDP, you get a single place to store and integrate all your customer data, which makes it easier to work with and access. But for best performance, you will need to add an experienced data analyst to the equation.
Data analysts are a valuable part of the customer data platform, and they provide a lot of value. They are responsible for checking and analyzing the data that the customer data platform is providing. This process is very important because it can often help determine whether or not the data that the customer data platform is providing is accurate and complete. If it is missing data or incorrect data, then your business will suffer. Having a data analyst on your side is especially important because they can provide a lot of value quickly.
It should provide all sorts of data on customers, whether online or offline
The best customer data platform will allow you to track the actions of your customers, whether they are online or offline. They will provide a wide variety of data on your customers. This data can be used for many different purposes, including to boost sales, make better marketing campaigns, and ensure customer satisfaction.
The first thing to know about the best customer data platforms (CDPs) is that they are designed to handle both online and offline data, although different tools offer varying capabilities in each area. CDPs are meant to handle data from a variety of sources and to work with more than one data type. This includes first-party data that a business gathers itself, whether through a website or mobile app. But it also includes third-party data, including social media, marketing automation, and even data from market research firms.
It is no longer enough to rely on traditional data sources and techniques to understand what customers are doing online, how they are interacting, and what they are saying about your brand. In fact, in many cases, the information that you get from social media, the blogosphere, and other nontraditional data sources is more valuable than the data you get from traditional sources. If your customer data platform only provides access to data about customers and transactions, you are missing out on a lot of information that can help you become more competitive and retain your customers.
Protects your customer information and your clients’ data
A customer data platform is designed to keep your customer data safe. But what does that mean? You don’t want anyone to have access to your personal or business information, and you don’t want to see your customers’ information in the wrong hands. A customer data platform is a secure way to collect, store and manage your customer data. Part of the security of a customer data platform is the way it is built and maintained.
Customer data platforms (CDPs) are the go-to solution for collecting, analyzing, and storing the data you collect from your consumers. But when you’re shopping for a new customer data platform, you’ll want to make sure that you’re choosing a solution that offers the highest quality protection and security for your clients’ data and the security that protects your own customers’ information from breaches.
Easy to use
When you’re looking for new software or system, you should always start by thinking about your company and how it works. What kind of data do you need to keep track of? Which documents do you need to store? How will you organize your data? These days, data is a valuable resource, and you need a tool that really supports your company’s needs. Ask yourself these questions when you’re shopping around for a new customer data platform:
- Does it support the kind of data I need?
- How easy is it to use?
- Is it compatible with my current technology?
- How customizable is it?
- How is customer service?
If you’re looking for a customer data platform, find one that keeps your data secure, supports your current technology and is user-friendly.
Every tool has its own learning curve, and the same goes for CDPs. Some require a lot of time to learn, while others have simple interfaces that allow you to get started right away. If you are struggling to navigate your CDP, it might be time to try another one. Make sure that you’re not wasting too much time trying to use your CDP.