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As a marketer, you might already be using tools such as customer relationship management (CRM) software to track customer interactions with your company. But if you have a large number of digital touch points (websites, social media sites, phone calls, email, and live chat) the data you collect from your customers will be siloed. This can lead to inefficient decision-making processes, data duplication, and difficulty in collaboration between departments, which will limit your ability to entirely engage and satisfy your client.
Customer data software can help you overcome data silos and centralize customer data, giving you a 360-degree view of your customers. This tool integrates all customer data from multiple sources, and organizes it to create a single customer database.
This database can then be used by other marketing tools such as email marketing, marketing automation software, campaign management software, content marketing software, and customer analytics software to provide a more personalized and effective customer experience.
In this buyers guide, we’ll go through the features, benefits, and market trends related to customer data software to understand the tool and its capability better.
Here’s what we'll cover:
Customer data software is a platform that collects and organizes customer data from multiple sources such as customer relationship management software, websites, social media, transactional data, and ecommerce behavioral data. The software creates a single, complete view of each customer that can be accessed by other systems to track, analyze, and manage customer interactions.
Key capabilities of a customer data platform include:
Real-time analytics in Segment Software (Source)
Most customer data platforms generally have the following features:
Customer segmentation | Divide customers into groups based on common characteristics so you can market to each group effectively and appropriately. The segmenting can be according to a number of factors such as industry, location, or products previously purchased. |
Audience targeting | Target audiences by segmenting them into different criteria which may include age, gender, income, location, or interests. This helps in delivering more personalised and optimized experiences based on customers needs and interests. |
Behavior tracking | Use previous online user activity such as pages visited, content viewed, searches, clicks, and purchases to gain insight into their browsing habits. Customer behavior tracking can be used to target interest-based advertising or online behavioral advertising. |
Customer profiles | Create buyer personas or user profiles by segmenting customers sharing similar goals and characteristics. Each group is given a representative with a photo, a name, and a description. |
Campaign management | Oversee the planning, execution, tracking, and analysis of a marketing initiative. This helps you to make necessary changes to attract more customers and achieve the campaign's goals. |
Multi-channel marketing | Interact with customers using a combination of indirect and direct communication channels. This includes websites, search engines, social media, email, mobile, promotional events, and conventional storefronts. |
Real-time analytics | Analyze the data captured from customers to help you to create trusted customer profiles and evidence-driven segmentation. |
Engagement tracking | Track how actively your audience is involved with your content to determine the effectiveness of your brand campaigns. |
Email tracking | Monitor the delivery of email messages to your prospects and customers. It allows you to monitor opens and clicks of emails, and check other metrics to improve the quality and efficiency of email marketing campaigns. |
Before purchasing a customer data platform, you should assess what kind of a buyer you are. The majority of buyers fall into these categories:
Below is a comprehensive list of benefits you can expect from customer data software:
Customer data platforms with artificial intelligence(AI) capabilities will make marketing more efficient: Artificial intelligence capabilities can help accelerate marketing goals. For example, AI can identify customers who are unlikely to convert and exclude them from campaigns, saving resources for higher-value customers. Using this technology, predictive models can be created that can generate actionable insights and understand which customers will buy the most. This enables marketers to make intelligent recommendations, and personalized customer experiences along with upselling or cross selling their products.
Realizing the benefits of AI-powered customer data platforms, customer data software vendors are adopting the technology in order to help users automate the process of collecting data from various touch points and helping reveal the relationships between customers and their journeys.
Note: The applications selected in this article are examples to show a feature in context and are not intended as endorsements or recommendations. They have been obtained from sources believed to be reliable at the time of publication.