A 360-degree view of every customer is a concept that has eluded organizations for decades. Breaking data silos and delivering a consistent customer experience remain a priority. But very few brands have been able to put it into practice.
According to a survey by Forbes, it takes 47% of marketers more than a week to analyze and measure the success of their marketing campaigns1. Another 47% take between 3 to 5 days. That’s a huge window of lost opportunity for improving a customer’s experience immediately.
What’s missing? The ability to make customer data actionable so marketers can send out the most compelling offers. They need a complete picture of the customer journey and a way to make that insight available for analysis.
A large majority of firms are starting to feel the need to centralize their customer data on a single platform, a customer data platform (CDP). As originally defined by the CDP Institute, a CDP seeks to unify customer data into a single database that is persistent and shareable with other systems. This allows organizations to create a 360-degree view of customers and create better customer experiences. It is part of a unified customer data management system which is comprised of 3 core layers: data, decisions, and delivery.
An increasing number of organizations are prioritizing CDP as their top marketing investment. As per Gartner, the number of companies interested in CDP increased by 4X in 2017 and 2X in the first half of 20182.
The CDP industry more than doubled in 2018 with $740 million in revenue and the market is touted to reach a whopping $1 billion in 20193.
A full service CDP provides numerous benefits:
CleverTap is designed to give you the benefits of a CDP along with a delivery system on a single platform. We unify data, decision, and delivery systems to help growth teams:
By bringing these capabilities into a single platform, we reduce your tech stack complexity, remove data silos, reduce moving parts, and give growth and retention teams complete control over their process – from hypothesis to testing to measurement to calibration.
In this section, we discuss what makes our CDP integral to the martech stacks of future-looking brands seeking to create an end-to-end customer experience.
Our system ingests user data in real-time from any number of online and offline applications. The data sources can be one or more of the following:
CDPs not only store user profile data but also keep the user identity intact when they bring data from numerous channels. Our system creates one profile for a user across all of their devices.
Our customers can specifically identify user profiles using a database ID or other unique identifier captured or generated by the customer. Using the same identifier across devices allows for user/device aggregation in our CDP. For unknown visitors, we assign a unique anonymous device ID to each device.
Our user profiles are persistent in that we store every single snapshot of user data. You can track every pattern or change in customer behavior and attributes over time, and across all channels. User profiles are stored in a persistent state in our proprietary database for as long as our customer desires.
Any changes in a profile are normalized and maintained regardless of whether they continue to remain present in the source systems. For example, this could be demographic attributes such as address and email or more behavioral attributes such as search history, purchase trends, or interests. This allows us to deliver industry-leading segmentation and personalization use cases that leverage all of a user’s profile attributes.
A key reason enterprises benefit from our CDP is the fact that it is an in-memory database. This database stores and accesses the most recent snapshot of user data. Any changes that happen to it in real time are rendered to customers in real time.
This custom built in-memory database also allows us to query millions of user profiles in real time, making it an advanced analytics and segmentation tool for growth marketers. We provide answers for queries that span millions of data points in near real time without any pre-computation.
The architecture provides the flexibility of breaking larger data sets into smaller shards spread over multiple physical servers in order to scale limitlessly. Today, we serve multiple apps with more than 100M downloads and send millions of messages concurrently.
Our platform also has a Message Delivery Service (MDS) that greatly complements its CDP capability. MDS is an end-to-end, omnichannel orchestration and marketing automation system. It makes insight from the analytics and segmentation engine actionable.
What makes it exciting is that a lot of the segmentation and orchestration capabilities are automated. Powered by AI and machine learning, we enable marketers to define granular user segments and send omnichannel engagement campaigns in real time.
Customers are able to send campaigns across a number of channels on the web, email, mobile, and desktop as well as perform targeted remarketing on Facebook and Google Adwords.
CDPs enable organizations to access customer insights across external systems. Our open API allows growth marketers to send the insights to CRMs like Salesforce, BI tools like Microstrategy, data visualization tools like Grafana, communication channels like Slack, customer support systems, project management tools, and many others.
As a result, we enable enterprises to resolve differences in cross-channel efforts and bring more certainty to their analyses. The REST API provides endpoints, webhooks, server-side SDKs, and error handling that supports the most complex use cases, including:
We keep a current view of the customer to maintain the accuracy of the user profile. We process personally identifiable information (PII) strictly based on instructions from our customer. Customer data is stored in an encoded format optimized for performance, rather than stored in a traditional file system or a database. Customers own all rights to their data and can choose to download it via an API or delete it from our systems, if they need to.
Customer data has been growing at an exponential rate. We built CleverTap to meet the volume, variety, velocity and veracity needs of the future.
Check out our product page for more information on our CDP capabilities or feel free to contact [email protected] if you have questions.
See how today’s top brands use CleverTap to drive long-term growth and retention