If you work within any of these fields, you might already be aware that collecting and organizing your customer data is a must. But you might not fully understand what customer data is and what problems it can solve for you.
We are here to break it all down for you.
Imagine a customer looking for a new pair of running shoes.
Throughout the process, she might:
By the time she finally makes a purchase somewhere, she has probably interacted with that brand on several different touchpoints, leaving a small footprint behind each time.
Customer data is exactly this: It’s the total collection of data stemming from anything from anonymous ad impressions to known purchases from every visitor interacting with your brand.
Today, companies are swimming in data (in part due to 3rd party data, which will soon be cut out by Google – read about the end of 3rd party data here), so organizing that data to get to know customers is all-important.
By collecting and analyzing customer data, businesses can gain valuable insights into their customers' needs, preferences, and behavior patterns. This allows you to make informed decisions and tailor your marketing and customer service efforts to meet your customers' needs.
Customer data is a critical asset for businesses in today's data-driven economy, and companies that leverage customer data effectively can gain a competitive advantage in their respective markets.
That is where a Customer Data Platform (CDP) comes in.