Using a marketing data platform
Marketing Data Platform
A marketing data platform can help businesses to manage their customer and marketing data across multiple channels. Using a digital marketing platform can help you handle and improve your marketing strategies across devices and platforms. Digital marketing platforms can help you build your brand credibility and generate more sales.
Various free digital marketing platforms are ideal for small businesses that you can utilize to help kickstart your business. For example, some free digital marketing tools provide a marketing plan to assist you in outlining your digital marketing campaigns so you can grow and scale your business fast. Despite the benefits of free digital marketing tools, it is important to note that most free tools may not be able to provide superior customer service, and they may have limited design and customization options.
When choosing the best marketing platforms for your enterprise, it is important to consider a few important factors. Aside from your customer demographics, you should also look into platforms that will work well for your marketing campaigns, operational costs, and product range, among other factors. Some examples of digital marketing platforms include social media accounts, subscription lists, business networking, email marketing, video content, and others.
Generally speaking, digital marketing platforms have two components: digital marketing and digital business platforms. Digital marketing, or online marketing, refers to the use of the internet and digital technologies to advertise your products and services and connect with your target and potential customers. Digital marketing is essential to drive more traffic to your ecommerce website and propel your business forward. You can use a digital marketing platform to build brand credibility and increase sales.
Digital business platforms, on the other hand, are integration hubs that can support business transformation by providing digital technologies to help brands better connect with their customers. Digital business platforms can help businesses market their products and services online, enhance consumer relationships, and accelerate marketing campaigns.
The marketing data platform from Lexer enables companies to plan out personalized experiences across owned and sponsored channels to draw in high-value customers. Lexer can help you put your customers at the forefront of your business to fuel your marketing initiatives. By leveraging Lexer's Customer Data Platform (CDP), you can create tailored customer experiences across all of your paid and owned digital channels to attract customers that will significantly improve your bottom line.
Customer Data Platform
Nowadays, customer experiences may be fragmented and siloed between each channel. When customers have fragmented digital experiences, their journey is inconsistent across several touchpoints. For instance, a customer may have a seamless experience navigating your website portal but may have issues interacting with your brand using an app on their mobile devices.
Fragmented customer experiences happen when businesses lack a solid strategy to interact with their customers consistently across multiple channels. To avoid this, companies should have access to unified customer data to ensure a seamless and integrated customer journey rather than having their teams analyze customer journeys as disjointed silos.
Lexer offers the best customer data platform by allowing businesses to transform disconnected data into actionable insights. Lexer can also provide the necessary workflow tools to automate and optimize customer experiences to boost sales.
In addition, it might be helpful to distinguish between customer data platform vs. CRM or customer relationship management. Both CRM and CDP gather customer information to be used by enterprises. CRM can use customer data to assist teams in everyday customer-facing tasks in sales, marketing, and customer care. CDP can aggregate customer information from multiple sources, including CRM data, to help companies understand customers' needs, streamline their purchase process, and deliver consistent omnichannel customer experiences.
While a CRM stores customer data from different channels, CDP unites data across all platforms to create a single source of trusted customer data. By using CDP, companies can obtain and categorize real-time data into enriched customer profiles in a single central location.
Marketing Data Analytics
Marketing data analytics can assist businesses in crafting their advertising campaigns and spotting new trends to enhance their marketing initiatives. In a nutshell, data analytics means transforming raw data into valuable insights to make better business decisions. One way enterprises utilize data analytics is through target marketing. Target marketing involves segmenting your consumer base to plan effective marketing tactics and increase your market share.
Companies should know how to use and analyze big data to improve their digital marketing strategies and thrive in a competitive marketplace. Big data analytics allows enterprises to examine big data, including market trends, sales figures, and inventory projections to make timely, data-driven decisions in line with their business objectives.
Aside from using data analytics, another way to grow your business is through marketing platform partners. Platform partners are software providers that offer technology and solutions to help you achieve your corporate objectives. A marketing platform partner can assist you in selecting the appropriate marketing platform tools and offer technical know-how to enable you to obtain access to important data to expand your business and boost your marketing platform revenue.
Lexer is an all-in-one marketing platform that collects, connects, and enriches customer data from different systems to create a single customer view. This way, businesses can discover actionable insights to attract, convert, and delight customers.
Customer Data Platform Examples
A customer data platform, or CDP, allows companies to create a persistent customer database by gathering information from various sources and merging them into a single, unified customer profile view. Persistent data means that the data is stored securely and can be accessed later, even after a server reboot. Having persistent data enables you to analyze trends and continually improve your business outcomes.
External systems, such as machine learning and artificial intelligence, can also access a CDP and help facilitate effective marketing automation. Additionally, CDP enables different systems to work with the same shared information to deliver a consistent customer experience.
Essentially, a CDP is a packaged software tool that can provide companies with a single central view of their customer database. CDP can help digital marketers utilize and manage customer data to understand customers better and increase conversions. A CDP may be purchased, owned, and operated by the marketing department and requires minimal assistance from IT departments and other relevant teams.
Data inconsistency and data redundancy are caused by disparate data sets. These instances happen when each system creates its own customer view, such as when IT teams deal with siloed data and the marketing department handles a different type of information.
There are four different types of customer data platform architecture. One type is called data ingestion, in which the CDP captures data from different sources and sends the data into a single repository. Data ingestion eliminates the need for manual data collection, which can be time-consuming and potentially result in inaccuracies.
Another type is unification, where information acquired from multiple sources is organized into customer profiles that can be accessed by various departments within an organization. Data unification enables marketers and other teams to have a holistic view of customer history across all channels and touchpoints.
With intelligence and analytics, CDP allows businesses to have a single customer view. This means that enterprises can better understand their customers and their demands by looking into previous purchases and preferences. Knowing these can help companies make predictive insights and modify their engagement strategy as necessary.
Lastly, an activation-based CDP such as Lexer can connect all engagement channels and activate customer data on any platform. Lexer's Customer Data and Experience platform can turn disconnected data into actionable insights so that businesses can automate and optimize customer experiences from within the CDP itself.
Top Customer Data Platforms
By using a customer data platform, companies can have a holistic view of each individual customer profile with combined information from disparate channels. Some customer data platform vendors can help automate marketing tasks and enable digital marketers to design personalized email campaigns. Other CDP software tools leverage AI and machine learning to predict future customer behavior so they can create more personalized customer experiences. Some tools may also help customer service teams access all customer data efficiently for better customer service.
When choosing the right CDP for your business, one important factor that you should consider is the CDP's overall performance. CDPs that have robust capabilities across different areas as opposed to those that focus on specific functions may be a better option. For example, Lexer is an all-in-one hub that can help companies build brand loyalty and drive growth by providing the necessary tools at every customer touchpoint – from marketing to sales and service.
Customer Data Solutions
In a customer data platform, machine learning and AI can help create more precise customer segmentation and enhanced customer profiles. In this way, CDP can help companies provide customers with better experiences throughout their buying journey. In addition, when it comes to safely storing and accessing customer data, cloud technology is a helpful feature.
Lexer's CDP uses machine learning and marketing models to develop an intelligent metrics analysis. To increase client retention, businesses may utilize Lexer's predictive analytics tools to find the right products for replenishment campaigns.