Companies like Netflix, Pinterest, Amazon and LinkedIn build great consumer relationships. They grow their businesses around serving customers and fully understanding them through data.
Traditionally, companies have tried to understand and manage customer relationships in two separate types of systems:
Channel-centric tools like email services, ads, web analytics, mobile apps and so on.
Databases or Data Warehouses that store various data sets in-house by IT.
Both methods result in storing and using customer data in different places. Siloed data is difficult to stitch together and makes a customer-centric approach much more difficult.
Marketers look to build omnichannel experiences to cater to the way customers interact across multiple touch points when and where they want. The traditional customer data management model leads to a disjointed experience.
Not being able to act on the signals that your customers provide in real time is a missed opportunity.
Customer Data Platforms can help. A CDP delivers the next tier of customer understanding by connecting data from various channels