Strategic CDP Trends in 2020
We welcome the new year 2020 with excitement! Why? We believe that it will be the turning point in many B2C companies for smarter customer data management, that will be turned into improved customer experience. There are certain trends on the strategic level that strongly indicate change. Keep reading and find out whether you are prepared enough for 2020.
Strategic CDP Trend 1: There’s only the second place left – that’s your benefit!
There are a few industries that have been forerunners in taking advantage of first-party data. Travel and e-commerce have been enriching profiling data and utilising it in marketing, sales and customer service processes. During 2019 we’ve noticed that the rest of B2C businesses are rapidly catching up by imitating the forerunners in customer data management and analytics capabilities. Take advantage of your back seat position, learn from the forerunners, and avoid the pitfalls they’ve fallen into!
Strategic CDP Trend 2: Isolation is yesterday’s news. Integration is in.
The year 2020 started with numerous news of corporate restructuring. In many cases, the value is seen in integrating marketing, analytics, and innovations. Your first thought might be that corporates are only looking for savings. Think again – actually, many existing companies are making an effort in improving customer experience. They are aiming at creating a genuine competitive advantage of customer understanding and insights by focusing on their own existing customer base.
Strategic CDP Trend 3: The unified omni-channel customer experience – your only way forward.
Shoppers expect seamless transactions through all avenues in an omni-channel experience with retailers and consumer service providers. By connecting the different avenues of shopping in the customer data platform, retailers bring together all facets of a customer’s journey across the entire business. The outcome will be an exceptional customer experience, which often plays a critical role as the competitive edge differentiating speciality shops from the price-driven cash and carries.
Strategic CDP Trend 4: Me, myself and I – personalize it to me, please.
Personalization is a key component to any e-commerce retailer, and nowadays also to any other consumer business. Leveraging customer data to tailor content and product offerings based on behaviour, interests and more has become a standard for B2C companies. An easy-to-use customer data platform with marketing tools is a marketer’s secret weapon for success.
Strategic CDP Trend 5: In-sourcing is in. We can do it!
Companies are quickly adopting in-house capabilities both by recruiting the talent, introducing easy-to-use martech tools and reinforcing internal capabilities with on-demand consulting services. As described in the 2nd Trend, not only skills and capabilities but also organisational structures are better at supporting the modern customer-centric marketing and sales operations. One of the latest and greatest successes we have been contributing towards is the international barber chain M Room. Read how they have created a unique competitive edge by harnessing martech and combining internal and external skills for superior customer experience. What would be your winning combination?