Why should companies pay attention to personalization? Why isn't individual communication enough to increase conversion? Learn how to use customer data platforms to personalize customer interactions.
How CDPs reveals the possibilities of personalization
Customer interactions with a company through various channels can potentially lead to thousands of contacts. These touch points produce valuable data that brands use to personalize. However, due to the large number of interactions in different channels, it is difficult to collect data into a single database.
Many brands turn to customer data platforms (CDPs) to collect data.
Experts say that by 2026, the CDP market will amount to $15.3 billion.
CDPs are an excellent starting point for company personalization. With these platforms, customer data is collected in a single space, creating opportunities for high-quality individual service.
Why personalization is so important in e-commerce
Internet users are becoming more demanding every day. For this reason, the importance of personalization in marketing can't be overestimated. It's a powerful tool that brands can use to meet the needs of their customers.
A personalized experience increases average sales growth by 20 percent, and 80 percent of buyers will make a purchase.
Individualized communication with the client through all brand channels increases the number of conversions. However, a single personalized communication with a person is not enough to increase income. It is important to consider different personalization elements that increase customer reach over time.
Not many companies know how to personalize correctly. Because of this, some marketers consider this approach unprofitable for the company. That is why it is very important to use an effective customer data platform and create a content-personalization plan.
How CDPs help companies personalize customer interactions
Just imagine this situation: a girl sees a bag on social media that she absolutely needs to have. She checks the site on her phone but then gets distracted and closes the tab. In the morning, she reopens the site from her computer and decides to research more about the bag. In the process of searching for the product, she repeatedly flips through the pages of the site. A day later, she decides to buy the bag not through a website but through a link on social media—exactly where her original association with the bag began. This scenario highlights why you need to collect interaction data from different points of contact. Without it, your brand won't be able to track customer behavior across devices and platforms to offer a more personalized experience.
If a company only has one customer, it will not be difficult to collect data. But in real life, businesses have dozens, hundreds, or even thousands of individual customers. That makes it far more difficult to collect data in an efficient way. In this case, your business needs a customer data platform that combines information in a centralized location.
If you choose a well-designed CDP, it will help you perform the following:
- Combine customer data from any source
- Effectively filter consumers
- Define data for a marketing campaign
- Predict customer behavior
- Make recommendations on products and services
- Ensure repeat customer interaction
A CDP serves as a company's centralized information-processing center, enabling leaders to create an optimized, personalized customer experience.
Provide customers with excellent service with Evinent Analytics.
Our customer data platform is an effective tool that will help your company enhance your customer interactions. Evinent Analytics provides predictive analysis so that you can offer customers products that interest them.
Our platform allows marketing staff to combine data and provide an interconnected experience with a single solution. This way, your company can grow beyond your current capabilities to provide increasing value to your customers.
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