Utilizing customer data for better marketing & sales processes
Financial services firms are gathering more data from a growing variety of sources: phones, social media, smart cars, smart speakers, internet-connected TVs, web cookies, IoT devices and much more.
Modern organizations can leverage this data to better understand their customers and prospects to have more relevant interactions providing a better experience resulting in increased revenue.
Countless companies across industries rely on CDP to unify all their first-party customer data and enrich it with third-party data to create a comprehensive single view of the customer. This unified customer data is used to create powerful segments, to analyze prospects’ and customers’ needs, and to orchestrate marketing and sales processes throughout their life cycle.
A CDP works through a three-step process:
- Map: Gathers and unifies data across various online and offline channels to create a 360-degree view of the customer.
- Analyze: Evaluates data to generate insights, increase operational efficiency and augment analysis with AI.
- Activate: Triggers customer journeys with real-time personalized messages and contextual offers via different channels such as emails, SMS, social media, ad network etc.
With CDP, marketing and sales teams can provide the right messaging, to the right customer, at the right time, via right channel.
Capgemini’s Customer Data Platform (CDP) offering enables FS firms to create a persistent, unified customer view that drives personalized contextual content and offers
Key Benefits of Capgemini’s Customer Data Platforms
Capgemini’s CDP solution provides key benefits to financial services firms, including:
- Single View of the Customer: Primary focus of CDP is to collect customer data from multiple sources and stitch it together under single customer profile, creating a complete picture of the customers and their needs. This also captures all the customer interactions with different touchpoints using various devices, informing the organization exactly what the customers are looking for. This unified data can be used across organization for various purposes.
- Dynamic Segmentation: Having all the customer profile and interactions unified together, CDP can enable complex, real-time segments to make the marketing and sales process more targeted to drive effective engagement and conversion. Dynamic segments can be used to target marketing campaigns, sales pitches as well as to suppress ineligible leads early in the marketing or sales processes. As customers are added or removed from segments in real-time, this can also enable triggering real-time activations like emails, outbound calls etc.
- Data Democratization: Our CDP platform comes with large number of out-of-the-box connectors, making it easy to integrate with other MarTech systems to send the unified customer data for various purposes. For example:
- Data can be synced with CRM systems to keep the sales teams informed about customer profile and activities
- Data can be sent to marketing platforms to orchestrate highly personalized campaigns in real-time
- Data can also be fed into reporting tools to enable integrated reporting at various levels of aggregation catering to audiences ranging from leadership to operations team.
- Personalization and Customer Experience: The unified customer profile and interactions can be used to make the marketing messaging and sales conversations highly personalized and relevant to the customers. Additionally, our CDP solution can act as the central system that connects to different marketing systems and manages customer consents and preferences.
- Operational Efficiencies: CDP can enable various use cases that can improve overall operational efficiencies. For example, using tactics like pre-qualification to remove bad leads early in the marketing and sales processes; creating refined target audiences for marketing campaigns and using suppression segments to improve the quality of target audiences for display ads, can result in higher efficiency, better conversion rates, and cost/effort savings.
CDP will allow businesses to target customers, personalize their experiences and help establish a lasting relationship that will result in higher retention rates. Companies can deliver consistent and integrated customer engagement that will enable higher customer lifetime value.
Capgemini partners with its clients through each stage of the CDP lifecycle to explore, design and implement the right platform that will help them realize business outcomes. We also have expertise to build custom CDP solutions catering to specific needs of our clients.
We conduct an assessment of various CDP vendors to help clients select the CDP vendor best suited to their needs. We also provide advisory services with deep marketing and financial services knowledge, to help design a roadmap to achieve business goals. Additionally, we help our clients with change management to ensure better adoption of CDP within client teams.
Email us at email@example.com for more information on CDP.