Delusions Courtesy Multiple Data Platforms
Before we talk about data, let’s talk about all the technology vendors who promise to provide a “360-degree view of customers”. Players in this segment include CDP, DMP and CRM software providers. Which one’s really fit for you?
Would you deploy an array of such software platforms to identify a channel you’d rather invest in to drive sales, promote your brand or generate leads? Even if you do, it does not clearly pick and show you all of your customer’s interactions with your brand’s campaign across sites and ad platforms.
Driving Sales But Not Customer Engagement?
Although there isn’t a direct link between a sale and a campaign, having your point-of-sale and digital identifiers synced can get you answers with some level of certainty. Digital identifiers include cookies and mobile advertising IDs. If you have a sale done at your store, wouldn’t you want to match it with the digital campaign that influenced the customer to make the purchase?
Some tech partners can help you achieve this by studying the change in foot traffic at your stores. Oftentimes, GPS lat/long data points, WiFi connections, and the data from Bluetooth beacons are measured to attribute sales.
So you have enterprise software vendors and a good number of tech partners but would you claim that you put all this data and the customer’s proximity to your stores to good use?
Disparate Systems Equal Data Silos
Companies resort to matching customer details with hashed email IDs to attribute sales but no one’s sure of its accuracy. Why? Because, conditions apply. You must identify the user across sites and apps. The user must opt in to share his/her location. Your store’s information about still being in business must be mapped across cities. That’s a lot of data and there’s still plenty of sources that house customer information, like:
- Customer Relationship Management Software
- Data Management Platforms
- Customer Data Platforms
- Transaction Data
- Customer Forms or other databases
How do you finish the customer jigsaw with pieces of information from all the above sources? Or can you already tell that these sources have a superset that can potentially cure all your data hiccups? Here’s an article if you’re interested in reading a little more about how to use your data efficiently.
Watch this space for the next blog wherein our founder introduces a new concept to have all your data requirements catered to from one place.