The top 10 CDP use cases to drive business growth | Simon AI

The top 10 CDP use cases to drive business growth

Author
Toby Yuen
Sr. Customer Success Manager

Table of contents

  1. The business benefits of using Snowflake and a CDP
  2. Unified customer view (Customer 360)
  3. Improved segmentation
  4. Advanced personalization for the customer experience
  5. Understanding and optimizing the full customer journey
  6. Automate cross-channel marketing
  7. Data governance and compliance
  8. Optimize operational efficiencies
  9. Predict customer behavior
  10. Identity resolution
  11. Increase ROI
  12. Conclusion

The business benefits of using Snowflake and a CDP

Many businesses are sitting on a gold mine of rich, valuable customer data. They know how much their customers are willing to spend, when and where they tend to engage, category/item preferences, and so on. If you want to know more about your customer, that data is likely there. Well, it’s likely somewhere.

A common theme we see is that this gold mine is scattered across various sources. This translates to messy and disorganized pools of data, making it a challenge for marketing teams to harness its full potential.

Enter Customer Data Platforms (CDPs). According to CDP.com, a customer data platform (CDP) is “a customer data management solution that consists of a centralized database that can ingest, integrate, manage, and deliver customer data to other technology solutions to personalize the customer experience (CX).”

A CDP can function as a full-service tool for your marketing and data needs. You can create personalized experiences, streamline your marketing processes, and drive more customer engagement, ultimately resulting in business growth. Because of that, having a CDP in your marketing tech stack is becoming increasingly important — or, arguably, necessary.

1. Unified customer view (Customer 360)

CDPs provide marketers with a comprehensive, 360-degree view of their customers sourced from different touchpoints and channels. With a unified customer view, marketers will have holistic visibility into their customers’ preferences, behaviors, and interactions across channels.

2. Improved segmentation

With a centralized point for all customer data, marketers can take audience segmentation to the next level. A CDP will allow you to create audiences (as granular as you want them to be) that stay up-to-date while the tool continues to ingest from the scattered data sources.

3. Advanced personalization for the customer experience

CDPs can improve the way you segment, and this essential MarTech tool can also enhance personalization across multiple channels. Knowing that a user recently browsed your website and clicked on certain products is valuable, real-time information. Use that to trigger an abandon browse campaign displaying the product they were browsing for.

4. Understanding and optimizing the full customer journey

The unification of all customer data in one platform means getting visibility into the full customer journey. You can see when a user browsed your website, downloaded the app, favorited items, opened the chat, and more.

5. Automate cross-channel marketing

CDPs that are built on cloud data platforms go beyond data unification and provide features that enable marketers to do cross-channel marketing.

6. Data governance and compliance

By unifying data, your team can manage data more easily from a legal perspective. Consent regulations vary, but you’ll be able to ensure the right rules are applied to the right segment with a CDP (e.g., European customers are tagged for GDPR).

7. Optimize operational efficiencies

With centralized data in a CDP, you can automate data processes for cross-functional teams. The tool becomes a one-stop shop for marketing, data, and CX teams alike, which can streamline their workflows and improve the customer experience.

8. Predict customer behavior

CDPs use artificial intelligence (AI) and machine learning (ML) to leverage historical and present data for predictions.

9. Identity resolution

A CDP can offer identity resolution, allowing businesses to reconcile disparate customer profiles to create that customer 360.

10. Increase ROI

The overarching goal of implementing a CDP is to drive tangible business outcomes and maximize the return on marketing investments.

Conclusion

A CDP built on Snowflake is a tool that will help your business drive revenue by using your most treasured asset: customer data. Whether or not you currently have a CDP, we encourage you to explore the potential of this tool.