Recently, customer data has been recognized as the key to every business growth strategy. However, many businesses are facing challenges in managing data effectively and CDP is seen as the key to solving these complex issues. In this article, let’s explore what CDP is, why marketers need it with us.
Challenges with Data
Before diving into what CDP is, let’s first acknowledge the common issues that many businesses face with customer data.
- Fragmented and limited access to customer data
Many businesses grapple with the challenge of fragmented customer data spread across disparate systems, often characterized by diverse formats and structures. Businesses lack a unified platform that can consolidate and clean data to get a holistic view of a customer experience.
- Disorganized Customer Data
Each customer data storage system targets a separate goal to serve the business. Therefore, the collection and storage methods are organized and performed separately, offen in the form of a database, files (*.Excel, *.CSV, *.XML file), or special proprietary format specified by each system.
This makes sharing and retrieving data from one system to another extremely difficult. Of course, it takes a lot of time to process and is prone to errors. As a result, businesses have to spend time and money to deal with this mess instead of focusing on the most important thing: Customers.
- Customer data is fragmented & unsafe
When data collection and storage is fragmented and unmanaged, there are many potential serious risks in securing sensitive customer data. These risks include data loss, the possibility of irreversible damage, or data falling into the hands of competitors or bad actors.
So what are the truly useful solutions that can solve the above challenges? The answer is a powerful customer data platform – CDP.
What is CDP?
In recent years, CDP has been considered a trend both globally and locally. The term Customer Data Platform or CDP was introduced by David Raab in 2013. He later went on to establish the CDP Institute. By 2018, the term had gained wide acceptance and usage, particularly in the marketing and tech industries.
A CDP is a marketing system that unifies a company’s customer data from marketing and other channels. It’s important that CDPs have the ability to consolidate profiles at the person level and connect attributes to identities.
Contributor: Chris Pemberton, May 22, 2018
Currently and in the coming years, CDP plays a significant role for businesses not only in Vietnam but worldwide. The data-related issues and challenges listed below can be addressed with the robust assistance provided by this platform.
A Customer Data Platform (CDP) serves as the backbone for unifying and identifying customer data. It empowers businesses to deliver high-value customer experiences in real-time without the need for technical involvement (IT/Developers).
CDP grants businesses full control over customer experience and digital marketing. Think of CDP as a heavyweight weapon designed exclusively for your business.
CDP implementation
There has been some confusion about the true capabilities of CDP (Customer Data Platform). Below are some question from marketers:
- Is CDP truly the “super solution” that marketers have been waiting for?
- IS CDP similar to existing marketing platforms?
- Can CDP replace the existing marketing systems of a business?
- When does a business need and ready to adopt CDP?
In reality, CDP is a powerful tool and the “super” level of CDP depends on the completion of marketing strategies and the business goals of each company.
Before a starting the implementation of CDP, a business needs to clarify three factors:
- Goal: What do you want to achieve using CDP?
- Data sources: What data sources do you want to collect and aggregate into the CDP?
- Capabilities: What capabilities and actions do you want CDP to have?
Below PangoCDP identifies key CDP capabilities that will meet overall business goals.
- All data one place
Connecting, collecting and synthesizing data sources into one place, and then “cleaning” it, is mandatory and serves as the premise for implementing the next steps.
- 360 Customer Profile
360 Customer Profile helps businesses understand customers’ behavior, interactions, shopping history, relationships and information about which ads they are influenced by, leading to purchasing decisions. From there, it helps businesses tailor most appropriate approach for each goal and increase customer experience.
- Real-time Segmentation
The combination of customer interaction data from Online sources such as: website interactions, Fanpage engagements, and chats, along with offline data like personal information, purchase history from stores,…provides businesses with significant power to create various customer segments. These can be tailored to serve specific goals, and they can be activated in real-time without the need for technical intervention or waiting for processing. This ability to handle each individual step seamlessly is a key strength of CDPs.
CDP also integrates with popular advertising platforms, enabling marketers to swiftly create target audience files from segmented customer data. With just a few simple steps, Marketers can then develop an effective Marketing campaign based on Customer insight.
- Activate data across channels
Real-time personalization is key to creating exceptional experiences. CDP provides personalized content based on behavior, personal information, product/service information of interest, purchase history, most recent purchases… Additionally, CDPs offer built-in tools for businesses to create marketing scripts, automatic customer care, interacting with Customers directly through the main interaction channel Master Channel, Email, SMS
With a good data strategy and the right CDP, your business can meet marketing goals. Marketers gain immediate access to a unified view of individual customers across online and offline touchpoints, enabling real-time insights and engagement at the right time.
CDP capabilities bring to businesses and especially marketers
In addition, CDP also helps businesses convey the right message, to the right user, at the right time and on the right channel in real time.
Target index when implementing CDP
As mentioned, each Enterprise has its own business goals. Below are the target indicators that PangoCDP suggests when using CDP.
Used time CDP (customer data platform) 6 to 12 month
| Index | Before applying CDP | Apply CDP |
| Engagement | ?? | increase 40% |
| Potential customer | ?? | increase 25% |
| New Customer | ?? | increase 25% |
| Loyal Customer | ?? | increase 15% |
| Churn Rate | ?? | reduce 20% |
| Revenue | ?? | increase 15% |
| Revenue | ?? | increase 300% |
| Execution Time | ?? | reduce 1,000% |
Let’s imagine: You need to create a Customer segment to target the Iphone 14 offer.
You aim to identify Customers who have purchased ihone 11 or ihone 12 within the last 360 days, determine if they have visited your website to view the iPhone 14 product or if they accessed the website using an iOS device.
With the current status of your business, how many components are required? How many personnel are needed? And how long does it take to create this customer segment? Alternatively, can you only create a segment of customers who have purchased iPhone 11 and iPhone 12, but filter their online behavior to determine if they have viewed iPhone 14 products or accessed your website using iOS?
PangoCDP will need you a minute to do this. And with a few more steps, you can deploy a remarketing campaign for this group of customer via Master Channel, Facebook, Google or directly via SMS, Email
What are some common misconceptions about CDP?
CDP is MarTech (Marketing Technology)
According to the most popular definition, CDP has 2 main missions: (1) CDP is a software platform for Marketing and other customer experience use cases thanks to the ability to unify customer data from touch points (marketing, sales, service…)
(2) CDP optimizes customer experience & interaction journeys based on individual-level analytics .
In addition, CDP is also a good source about customers, transactions, product consumption… in real time for in-depth analysis for many departments throughout the organization, not just marketing (product, retail, sales, service, planning & forecasting, business intelligence/Power BI). These are business insight values.
Therefore, what CDP brings is for the whole business (cross-functional benefits) not just Marketing. CDP is DataTech, ExperienceTech and Martech.
If you have unified data & engagement, it is considered a CDP
CDP was reborn with the mission of being the core foundation of the business to hold each customer’s insight, create meaningful & targeted segments, and support the highest and most complex experience activities…
Therefore, a platform called CDP needs to be able to “go long-term” with the business ‘s growth & maturity path (new demand)
Although not mentioned in the definition of CDP, good C level who choose CDP all note an important competence FUTUREPROOF.
‘That is, as a’, ‘platform’, CDP must be able to expand in terms of structure, data form and engagement support capacity by intuitive setup/cònig without having to use engineering (coding)
What is PangoCDP ?
PangoCDP is a powerful customer data platform that helps merge customer data from different sources, from online to offline on a safe and unique platform in real time; helping brands have a 360-degree view, revealing the interest, needs and favorite “touchpoints” of each customer. Create and launch unique and personalized experiences on The Master Channel.
Powerful customer segmenter
With PangoCDP, Marketers can build their own Customer segments that match their campaign goals. With just a few steps, Marketers are completely proactive without having to depend on other departments. These Customer files are always updated to help minimize deployment time as well as synchronize data across multiple interaction channels.
Digital marketing automation
PangoCDP provides Digital Marketing Automation features to help Marketers freely express their ideas. They can design, test and improve their Marketing campaigns with ease. All other outreach and Customer care campaigns can be easily managed on PangoCDP.
Multi-channel connection
PangoCDP has more than 20 built-in connections to the most popular digital channels. PangoCDP helps free Marketers from depending on service providers. From now on, Marketers are completely proactive in interacting directly with Customers.
In-depth report
PangoCDP offers comprehensive reporting systems from Marketing to Sales, helping businesses always closely control the effectiveness of each campaign. This is the basis for businesses to improve and continuously improve the quality of customer care.
With PangoCDP, handling customer data is simpler than ever. Businesses will be freed from the complexity of technology and the challenges of tech personnel, thereby focusing their resources on creating and building excellent experiences on the interactive channel “The Master Channel”.
The proactive interactive channel “The Master Channel” helps unify multi-channel and cross-channel marketing efforts. Thanks to that, Marketers can create colorful experiences, attract customers to interact with brands on a large scale, increase conversion rates and revenue.
If you are interested in The Master Channel and PangoCDP creating breakthrough revenue results, please contact us at: marketing@bytetech.io
