Turning Big Data Into a Data Lake

IMPORTANCE OF CUSTOMER DATA PLATFORMS

“The website of the Centers for Disease Control and Prevention (cdc.gov) was the most popular governmental web domain in the United States in March 2020, with almost 432.3 million digital visits. The majority of the American population considers the CDC the most trustworthy source of information on COVID-19; cdc.gov recorded over 934 million page views that month.
“That said, social media was considered the least trustworthy source of information on the coronavirus outbreak, according to a March survey.“

Increased internet traffic and mistrust forced internet audiences to cut out the middleman of social news and turn directly to the source. The importance of data integrity and security is necessary for clean, unbiased, data-driven campaigns.
Delivering the best customer experience is a requirement for most organizations. Currently, each website has one or more channels capturing new touch points in the customer journey, creating disparate data silos owned by Google, Adobe, or Salesforce, to name a few.

Connected Data

 

To own the data and to ensure a data-informed and solution-driven user experience, it’s important to manage and activate data in real time.
This is where a customer data platform (CDP) helps improve engagement and conversations.


So, what is a CDP? A CDP is a single dashboard where all data tags captured across a brand’s digital properties can be managed, and live segmentation can be informed by data and customer insights.


Why Is Customer Data Important?

 

Today’s customers simply assume that your company knows—and remembers—who they are, what they’ve done, and what they want at all times and across all channels. They expect the company to serve relevant content and experiences based on this data. Marketers and marketing technologists know that gathering and acting on unified customer information isn’t easy. In fact, just a few companies have actually achieved complete integration. The rest are battling with technology, strategy, budgets, organizations, staff skills, and other obstacles to success.


But customers don’t know or care about those challenges. If you don’t meet their expectations, they’ll assume you don’t care about them, and they will take their business to somebody else they believe will treat them better. Whether those other firms will really give them a better experience almost doesn’t matter: once you’ve lost them, you’ll have to fight twice as hard to get them back.
No wonder so many marketers have made a unified customer experience their
highest priority.

Why CDPs?

 

A unified customer experience is impossible without unified customer data. Most data originates in separate systems that weren’t designed to share it with anything else. Traditional methods for collecting that data into unified customer profiles, such as an enterprise data warehouse, have failed to solve the problem. Newer approaches, like “data lakes,” have collected the data but failed to organize it effectively.


The CDP is an alternative approach that has had great success at pioneering companies. A CDP puts marketing in direct control of the data unification project, helping to ensure it is focused directly on marketing requirements. CDPs apply specialized technologies and pre-built processes that are tailored precisely to meet marketing data needs. This allows a faster, more efficient solution than general-purpose technologies that try to solve many problems at once.

CDP Software Solutions

Exponea helps e-commerce businesses convert visitors into loyal customers and
fosters long-lasting relationships by creating exceptional customer experiences through relevant and consistent communication. Exponea is an end-to-end CDP, combining advanced customer data analytics with omnichannel campaign execution. It enables businesses to understand customer behavior and immediately launch highly personalized campaigns for each individual customer through their preferred channels. 

Emarsys is an omnichannel marketing automation solution, part of the SAP Customer Experience portfolio. Comprising a CDP with fully integrated multichannel campaign management, personalization, segmentation, and analytics dashboards, it is supported by dozens of additional features and add-ons. Its fully automated customer life cycle workflows are crowd-sourced from leading brands in your industry that accelerate time to value, deliver superior 1:1 experiences, and produce measurable results. By aligning your marketing challenges with its proven omnichannel customer engagement strategies and cutting-edge AI technology, you can deliver the predictable, profitable outcomes that your business demands and the highly personalized omnichannel experiences that your customers deserve.

Segment is a CDP that helps every team access clean and reliable customer data to make real-time decisions, accelerate growth, and personalize experiences. Today, over 20,000 companies across 70+ countries use Segment, from fast-growing businesses like Instacart, Peloton, and Bonobos to some of the world’s largest organizations like Levi’s, Intuit, and FOX. With Segment, companies can connect and activate reliable first-party data across 300+ marketing, analytics, and data warehousing tools.

Listrak is an established leader in the cross-channel marketing industry. Listrak works with more than 1,000 retailers and brands to drive higher levels of engagement and revenue with their customers by providing leading-edge email, SMS, and behavioral marketing solutions. Listrak has an industry-leading Net Promoter Score through its singular focus on driving results. With Listrak, retailers gain more than a technology platform; they gain a long-term strategic partnership with retail marketing experts who become an extension of their team to help execute growth strategies and exceed their goals.

Tealium’s data-first CDP is among very few platforms that connect customer data as a unified view so brands can connect with their customers. The Tealium Customer Data Hub encompasses tag management, an API hub, a CDP with machine learning, and data management solutions that make customer data more valuable, actionable, and secure. More than 1,000 businesses worldwide trust Tealium to power their customer data strategies.

Data Ownership and Segmentation of Live Data

 

With recent attacks on Microsoft, increased digital traffic, and a need to have real-time segmentation using live data, many organizations prefer to have CDPs owned and controlled by authorized employees of the company. Therefore, they seek to implement custom solutions. A concrete system architecture is defined after eliminating innovator bias, but for a high-level approach, here’s how FCB approaches this challenge.

Start by Asking Questions

  • What platforms do I need for campaign management?
  • Which vendors do you recommend?
  • What support will I need to configure and run the platform?

 

Please contact your account leads or ross.quinn@fcb.com if you have any questions or would like to discuss any of the above.