Real time marketing is the future of e-commerce marketing. More and more customers turn to digital channels to make purchases and interact with their favorite brands. Marketers need to be able to respond quickly and accurately to keep up today. A Customer Data Platform allows e-commerce companies to do that by providing powerful tools for customer data management, enrichment, and analytics in one platform. All while keeping privacy paramount through the use of first-party data.
A Customer Data Platform is a unified platform for customer data. It provides a single source of truth for all your customer data. And it helps you use it to build more personalized experiences, drive revenue growth, and reduce risk.
A CDP is comprised of three components:
E-commerce businesses can achieve deeper insights than ever before possible with traditional approaches alone!
Having real-time customer data is an important part of any customer experience strategy. Why? Because it’s the new currency for your business to thrive in a world where customers are empowered and have more control over their personal data than ever before.
Real time marketing makes it possible to deliver personalized customer experiences at scale. This means you can provide relevant content, offers, and service at just the right time for your customers. And it doesn’t matter whether that’s in person or online. Your business can also use this information to better understand its audience and tailor future communications accordingly.
The question is: How do you get started with real time marketing? Real time marketing is not just about collecting data. it’s also about using the right tools to make that data actionable.
Customer segmentation is the process of dividing a population into subgroups or segments with similar characteristics. You need to understand what your customers want and how they behave. It makes it easier to offer them products and services that meet their needs.
Real time customer segmentation can be achieved by using a customer data platform (CDP). The CDP can help you with real-time segmentation by providing a central repository for all the information about your customers. This includes who they are, where they live, what devices they use etc… It also contains information about their interactions with other channels such as websites or email, ads, etc.
Real time customer targeting is a great way to increase sales, but it can be difficult to implement. Here are some tips:
In the past, it was difficult for marketers to determine which customers were most likely to convert by analyzing their historical data. Today, however, you can use real-time data to score your customers based on their activities and behaviors. These scores help marketers determine the best offers to send each customer at any given time. For example, if a customer has recently purchased from you and is at risk of defecting next month due to price sensitivity or low propensity for repeat purchases, it would be helpful if they received an offer before this happens so they can buy again quickly.
Different types of scoring models exist in the market today: whether they’re linear or nonlinear; whether they use traditional statistics or machine learning (ML); what kind of data sources are used—such as website traffic patterns or purchase history information—are just some examples of how different scoring models will differ from one another.
Enrichment is the process of adding new data to existing data. Enrichments can be done in real time and on-demand, which means they can happen automatically as soon as a contact completes an action or during a scheduled data cleansing cycle. A CDP will enrich contacts with email addresses and phone numbers. It can also enrich customer data by adding information about their purchase history or website visit. Marketing automation platforms can enrich leads based on the behavior of those leads over time. All these types of enrichment can provide your business with more detailed information about your customers so you have better insight into who they are and what their interests are so that you can tailor content specifically for them.
As you know, data is the new currency. It’s what’s driving change in every industry, and it will continue to do so for years to come. And though data has always been important, it has never been more crucial than it is today. In e-commerce especially, we are seeing that the people with the best first-party data are winning big time.
Even Meta, the company behind Facebook and Instagram has gone all-in on privacy-protected data. They have created CAPI that allows you to supercharge your e-commerce with data you control
With the growth in digital and fast access to data, accurate customer information can be the difference between your company winning or losing a customer. If you have real-time insights into who your customers are as individuals—their behaviors, preferences and activities—you can make better decisions about how to build relationships with them through marketing campaigns that are customized based on their needs or interests. This not only makes sense from an ethical standpoint (more personalization means better experiences), but will also help increase sales conversions because customers feel like they’re part of something special when they see that their experience aligns with what the brand wants for them individually.
Real time marketing is all about capturing the right customer data at the right time. Using a CDP can help you do this, as it enables you to understand your customers better and make more informed decisions about how best to engage with them. The best thing about using a CDP is that it’s not just good for real time marketing – it can also help with other aspects of digital marketing such as targeting and segmentation.