Real time marketing is the future of e-commerce marketing. More and more customers turn to digital channels to make purchases and interact with their favorite brands. Marketers need to be able to respond quickly and accurately to keep up today. A Customer Data Platform allows e-commerce companies to do that by providing powerful tools for customer data management, enrichment, and analytics in one platform. All while keeping privacy paramount through the use of first-party data.
What is a CDP?
A Customer Data Platform is a unified platform for customer data. It provides a single source of truth for all your customer data. And it helps you use it to build more personalized experiences, drive revenue growth, and reduce risk.
A CDP is comprised of three components:
- Customized data models. A CDP delivers the ability to create customized, flexible schemas that reflect your unique business processes and policies. It can also combine multiple data sources into one location so you have a complete overview of your customers’ behavior across channels.
- Efficient access to a wide range of consumer touchpoints. A CDP has the ability to ingest any type or size of information from any channel, or even from outside sources. It offers unparalleled flexibility in how you can access as much consumer insight as you need at any given moment in time.
- Powerful analytics tools are built right into the platform itself (rather than being limited by other tools). Machine learning algorithms analyze patterns based on historical usage patterns among similar users. It also has real-time adaptive profiling capabilities; segmentation tools based on behavioral characteristics like purchase history and audience engagement levels. A CDP further includes predictive modeling capability with prescriptive analytics recommendations. Something that is all integrated within an intuitive UI.
E-commerce businesses can achieve deeper insights than ever before possible with traditional approaches alone!
Why is it important to have quick real-time marketing customer data?
Having real-time customer data is an important part of any customer experience strategy. Why? Because it’s the new currency for your business to thrive in a world where customers are empowered and have more control over their personal data than ever before.
Real time marketing makes it possible to deliver personalized customer experiences at scale. This means you can provide relevant content, offers, and service at just the right time for your customers. And it doesn’t matter whether that’s in person or online. Your business can also use this information to better understand its audience and tailor future communications accordingly.
How can a CDP help with real time marketing?
- CDPs can help with real time marketing by providing the data you need to make decisions.
- CDPs help with real time marketing by collecting and organizing data.
- CPDs help with real time marketing by improving data quality.
- CDPs offer segmentation, scoring, targeting, and enrichment capabilities that can improve your ability to identify customers and prospects who are most likely to buy right now.
The question is: How do you get started with real time marketing? Real time marketing is not just about collecting data. it’s also about using the right tools to make that data actionable.
Real time marketing customer segmentation
Customer segmentation is the process of dividing a population into subgroups or segments with similar characteristics. You need to understand what your customers want and how they behave. It makes it easier to offer them products and services that meet their needs.
Real time customer segmentation can be achieved by using a customer data platform (CDP). The CDP can help you with real-time segmentation by providing a central repository for all the information about your customers. This includes who they are, where they live, what devices they use etc… It also contains information about their interactions with other channels such as websites or email, ads, etc.
Real time customer targeting
Real time customer targeting is a great way to increase sales, but it can be difficult to implement. Here are some tips:
- First, make sure you have the right data. You need information about your customer’s interests and behavior so that you can target them with relevant offers at just the right moments in their buying journey. How do you get this data? If you don’t already have it, talk to your current customers and find out what kind of information they’d like to see on their phones and other devices—and how often!
- Second, figure out when those moments occur. Is there a particular time of day when people tend to buy products like yours? What places do they frequent most frequently, such as coffee shops or bookstores? If there are certain events that attract your target audience (like holidays), then consider sending messages during those times as well!
- Finally, once all these pieces come together in unison—a complete picture of who exactly needs your products today. Then you can begin executing your plan by delivering personalized content through channels like email or advertisements on social media.
Real time marketing customer scoring
In the past, it was difficult for marketers to determine which customers were most likely to convert by analyzing their historical data. Today, however, you can use real-time data to score your customers based on their activities and behaviors. These scores help marketers determine the best offers to send each customer at any given time. For example, if a customer has recently purchased from you and is at risk of defecting next month due to price sensitivity or low propensity for repeat purchases, it would be helpful if they received an offer before this happens so they can buy again quickly.
Different types of scoring models exist in the market today: whether they’re linear or nonlinear; whether they use traditional statistics or machine learning (ML); what kind of data sources are used—such as website traffic patterns or purchase history information—are just some examples of how different scoring models will differ from one another.
Real time data enrichment
Enrichment is the process of adding new data to existing data. Enrichments can be done in real time and on-demand, which means they can happen automatically as soon as a contact completes an action or during a scheduled data cleansing cycle. A CDP will enrich contacts with email addresses and phone numbers. It can also enrich customer data by adding information about their purchase history or website visit. Marketing automation platforms can enrich leads based on the behavior of those leads over time. All these types of enrichment can provide your business with more detailed information about your customers so you have better insight into who they are and what their interests are so that you can tailor content specifically for them.
With the growth in digital, fast and accurate customer data can be the difference between winning and losing.
As you know, data is the new currency. It’s what’s driving change in every industry, and it will continue to do so for years to come. And though data has always been important, it has never been more crucial than it is today. In e-commerce especially, we are seeing that the people with the best first-party data are winning big time.
Even Meta, the company behind Facebook and Instagram has gone all-in on privacy-protected data. They have created CAPI that allows you to supercharge your e-commerce with data you control
With the growth in digital and fast access to data, accurate customer information can be the difference between your company winning or losing a customer. If you have real-time insights into who your customers are as individuals—their behaviors, preferences and activities—you can make better decisions about how to build relationships with them through marketing campaigns that are customized based on their needs or interests. This not only makes sense from an ethical standpoint (more personalization means better experiences), but will also help increase sales conversions because customers feel like they’re part of something special when they see that their experience aligns with what the brand wants for them individually.
Real time marketing is all about capturing the right customer data at the right time. Using a CDP can help you do this, as it enables you to understand your customers better and make more informed decisions about how best to engage with them. The best thing about using a CDP is that it’s not just good for real time marketing – it can also help with other aspects of digital marketing such as targeting and segmentation.