This post answers six questions B2B marketers often ask us about how an automated CDP can make their lives easier and their marketing efforts better.
1. How can a CDP help B2B marketers enhance the way they access and leverage customer data?
Marketers are inhibited by customer data that is stuck in silos. Data that is trapped in disconnected systems means that marketers waste valuable time manually cobbling together customer data. The result (other than exhausted marketers) is slow, impersonal, or nonexistent campaigns—no clean data, no campaign. Customers want you to leverage their data to gain a deeper understanding of their needs and act on it, and they’re not afraid to go elsewhere to achieve it. CDPs pull data out of its silos and provide “one single source of truth,” meaning full visibility into your customer data and behavior. In terms of data management for marketers, a CDP is foundational.
2. How can a CDP transform raw data into actionable customer insights for marketers?
An automated CDP identifies behavioral patterns in customer data. It learns and keeps learning, sharing deeper insights about what your customers do and why. For instance, if most purchasers of X also purchase Y, your AI-driven CDP would identify this pattern and enable you to create a special “bundling” offer for whenever a customer purchases X or Y. This allows you to more easily take advantage of cross-selling and upselling opportunities. As underlying and often unknown customer propensities get uncovered, you can create microsegments around these behaviors to enhance the personalization and effectiveness of your B2B marketing.
3. How can a CDP help us fill in the blanks in our data?
Customers rarely provide you with all the information you want, like job title and industry, for example. Without complete data, marketers either simply ignore these prospects or lump them together with unrelated contacts. One of the key features of a CDP is its capacity for data enrichment, meaning that the platform can help you identify anonymous customers by filling in missing information (such as email addresses, IP addresses, and phone numbers). Once data enrichment has “filled in the blanks,” marketers can engage with these contacts in a more personalized, targeted way.
4. How can a CDP help our marketing team “do” data analytics?
With a CDP, you don’t need a PhD in data science to make sense of your data because the platform automates so many functions previously performed by expert data scientists. For example, marketers (or as we like to call them, “citizen data scientists”) can segment customers in a variety of ways and then automate targeted campaigns to reach those segments. They can also develop multiple hypotheses and use customer analytics to test them, optimizing as you go.
5. How can a CDP help us comply with emerging regulations, such as GDPR?
Having all your relevant customer data in one place drives marketing ROI and privacy compliance. GDPR requires that marketers inventory customer data and seek and maintain permission. At their core, CDPs gather, store, and track customer and prospect data. This includes information about how they came to be in your system and what level of consent they’ve provided. Centralizing access to customer and prospect data enables marketers to better understand and control permissions and respect the privacy of the contacts in their systems.
6. How well does a CDP fit into our existing martech stack?
Great CDPs have APIs that enable them to “plug in” to your various systems and aggregate relevant customer information into one place. In terms of systems integration, a CDP works seamlessly with your existing tech stack, and enhances all of your other systems because it enables you to conduct customer analytics and gain full-funnel, cross-channel visibility into every customer you have. Isn’t that capability exactly why you have a tech stack in the first place?
A CDP enhances everything your B2B marketing team does, enabling you to gain full visibility into customers’ behavioral patterns, get more out of your existing data, and market smarter. We like to think a CDP does for marketers what a compass does for navigators—it shows you where to go. For B2B marketers, that destination is revenue growth.
Chuck Leddy is a Zylotech contributing writer.