Customer Data Platform
Customer data platform (CDP) software collects, integrates and manages customer data from various sources–such as customer relationship management (CRM) software, customer service, billing, browsing history and electronic medical records—to create a unified profile for every customer. This real-time customer profiling provides insights into customer behavior, preferences and needs, all of which are essential for personalizing communications and experiences.
What you can do with a CDP
Unify
A CDP unifies data across systems and departments (including marketing, billing and customer service), breaking down data silos. Silos make it virtually impossible to deliver consistent experiences across departments and channels.
A CDP creates a single source of truth by combining real-time customer data from various sources into a single database.
Manage
Handling first-party data involves consumer privacy and data rights. A CDP manages the flow of first-party data and the consent involved to ensure your business complies with standards like the General Data Protection Regulation (GDPR). Your CDP also documents this data flow and consent for reference at any point.
Activate
With your data unified and permissions handled, you’ll have customer profiles at your fingertips. By themselves, customer data platforms don’t provide intelligent, journey-centric decisioning. Customer journey orchestration (a decisioning engine) analyzes customer data to determine the next best action for the customer in the moment–considering the context behind all interactions across all channels.
Benefits of CDP + journey orchestration
- Active updating of customer profiles (every time the customer interacts with your brand).
- Real-time dynamic segmentation (based on that interaction data).
- Pre-integrated interaction triggers (determined by segmentation).
- Execution of the next best journey action (e.g., sending an email with a discount offer, encouraging the customer to purchase the item left in the shopping cart).
How does a CDP support CX?
Modern businesses often have access to high volumes of customer data. But collecting, interpreting and using that data effectively are challenging. A CDP, combined with journey orchestration, simplifies these tasks.
A CDP is the key to a truly personalized customer experience. Your CDP compiles customer data from every touchpoint to help you understand how they’re interacting and what sort of information they receive.
For example, a consumer searches for sneakers, finding a pair they like but not at the right price point. They add it to their shopping cart but end up abandoning the site. Using a CDP plus journey orchestration, the data profile is updated in real time as soon as the customer interacts with the website. The decisioning engine evaluates the interaction to understand the context as well as the segment and value of the customer. This intelligence triggers an action to send a promotion based on the item of interest and the behavior (cart abandonment). Within minutes, the system sends the promotional offer (via the customer’s preferred communication channel) and reminds the shopper to complete the purchase.
CSG’s Xponent Data Platform
CSG’s Xponent Data Platform streamlines customer experience and conversion with real-time data processing and journey management. The unified data management system immediately updates all customer data—transactions, engagement, analytics, CRM data—and unifies the information into a single profile. That profile activates the most personalized, timely, relevant, and contextual follow up action based on preference and behavior. The result? True 1:1 personalization, creating better customer experience and loyalty, leading to more sales and greater customer lifetime value. With CSG Xponent Ignite, you can tailor your customer engagement strategy based on your company’s goals. Xponent Ignite includes pre-built customer journeys for four industries: retail, telecommunications, financial services and healthcare.
Experience the benefits of CSG Xponent
Explore the possibilities today, and get in touch with us to learn more about Xponent Ignite.
