The Next Revolution in CDP: Why You Need to Evolve to CDMP Now

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Have you ever had a bad customer service call cloud your mood for the rest of the day? To begin with, you were transferred three times and had to continually re-explain the service issue you were having to each new person, each time asking you if you had already tried self-service remedies that you’ve already explained didn’t work. Then you’re told if you had the newer model of the product, you wouldn’t have these issues, to which you explain you DO in fact have the newest issue of the product and are STILL having these issues. Then you’re finally told you will indeed need a service tech to come out to your house, but the best timeframe they can give you for when that service call will occur is an 8-hour window next Wednesday.

“Great,” you think to yourself. “What was the point of me having just wasted an hour of my day for this awful service experience?”  You make a mental note to start looking into replacing the product or service with one of their competitors.

It’s hard to believe the scenario described above still happens, but even in 2021, it does, and when it happens once, that’s one time too many.

When we engage with a brand, we don’t care about how its’ field service or marketing departments are managed. What we care about is that our problems are resolved, and quickly. When each interaction with a brand is an opportunity to provide a fantastic – and loyalty building – customer exchange, forcing a client to have to repeat themselves over and over again, not know what products they have already purchased, or make them wait for days to get their issue repaired creates a terrible brand experience.

Both the cause and the solution to this customer service problem is data, or more specifically, lack of cohesive customer data that presents you with a comprehensive, 360 degree of your customer. While you might be using a Customer Data Platform (CDP) to capture and manage your customer data, if that data is siloed in its own department niche, it’s doing your brand’s customer experience little good. When every customer interaction functions as its own distinct conversation, each touch – marketing, sales, logistics, delivery, service, loyalty – produces more siloed data, making a single, unified view of the customer impossible, and without it, delivering a positive and consistent experience across the customer journey itself is impossible.

So how do you plug the hole in your brand’s customer experience? By evolving from CDP to Customer Data Marketing Platform (CDMP) technology.

CDMP: The Next Evolution in Customer Data Platform

CDP technology emerged on the scene with the guarantee that they would give marketers the tools needed to unify data across their entire organization and deliver consistent, nearly automated experiences across all brand channels. Unfortunately, most point CDP’s usually fail to offer a cohesive customer profile across your entire brand ecosystem. Why? CDP’s often neglect that the information they contain is of more value to the brand than just the marketing department. They’re often too narrowly focused, stuck in department data silos, and not generating an entire end-to-end customer experience across sales, service, loyalty, marketing, commerce, etc.

Forrester recently addressed the inherent issue in CDP technology. They stated that “CDPs lack crucial capabilities to solve for identity resolution, data hygiene, and cross-channel orchestration.” The experts at Forrester also state that without these capabilities, CDPs “can’t meet enterprise B2C and B2B marketers’ expectations for personalized and targeted customer engagement.”

The CDMP evolution is vital, because it incorporates anonymous, third-party data, as well as first-party and even zero-party data to provide a comprehensive understanding of your customer. CDMP’s have anintelligence that utilizesAIto build predictive models and produces recommendations to give powerful and actionable insights. The best CDMPs – like Group FiO’s solution – shares these insights with other internal systems to enable sales, service, marketing, commerce, field service, finance, social, and others with more data and stronger intelligence. For example, if a customer is discussing an issue with a service agent, it’s vital thatthe screen in front of them can inform the agent that they ate speaking with a high-value customer who just made a major upgrade purchase of the latest model of your product.

In the same vein, if a customer has an open support ticket with your service department, it’s imperative that your marketing team knows not to include that customer in a marketing campaign until their issue is resolved. After all, there are few things moreannoying than getting an email from a brand wanting you to refer a friend or consider an additional purchase when you’re already having service issues with the products you’ve purchased from them. This approach helps you maximize customer engagement, improve customer satisfaction, and increase customer lifetime value.

Your customers deserve a great experience whenever they interact with your brand. A CDMP enables your brand hyper personalized experiences that delight customers whenever and however they engage with them, improving customer satisfaction, and increasing greater customer lifetime value.