Return On Investment《9 Best Customer Data Platforms (CDP) Software》

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Best Customer Data Platforms (CDP) Software Salesforce Interaction Studio Segment Exponea Oracle CX Optimove,How To Choose Good Customer Data Platform?,What is Customer Data Platform?

Introduction

The customer Data platform is the innovative way to accumulate information of the end-user and present it reasonably to various business activities. 

The consolidated data is integrated into the centralized database, where the various form of filters are provided to the marketing and sales teams. It is used to produce relevant reports for the marketing campaign.

The reports generated from the Customer Data Platform (CDP) enables the marketing team to design an individual campaign for a specific group of people based on their interest, buying pattern, product requirement, age group, demand, earning capacity, gender, etc.

The comprehensive report is produced backed by the analytical approach, giving you insight into the customer requirement and buying behavior. Getting the right information would allow the business to learn from the data and retain it for a longer period.

Additionally, you have a great opportunity to automate the marketing activities and reduce the stress on the marketing team. Your team can work on innovative ideas to capture the new clients instead of spending time and resources nurturing the exiting client using the CDP Data.

What is Customer Data Platform?

Modern marketing is depending on the customer data platform. The CDP aims to use the existing customer data to produce a comprehensive report of the customer to identify the customer’s buying pattern, interest, and need.

Collected data is a stitch to the unified customer profile. A marketer can use this profile to set a specific marketing campaign for a group of people sharing similar interests or demand for a particular product type.

Customer Data Platform (CDP) is not the new concept. Technology is there in the industry for several decades.

The only change that you see in the CDP application is the use of automation and AI-powered technology, which reduces the operating firm’s manual efforts.

With a single click, you can turn your existing customer database into a profit-making application. Full-fledged customization is possible in the modern CDP platform, the challenging part of the earlier version. 

You can have your goal set up in the platform that the CDP application can understand and generate a comprehensive report for you. CDP is the advanced version of the traditional CRM software. 

With the help of the CDP application, you can perform the Data Visualization process to identify the key area where you can put effort to convert the customer.

Treasure Data

Treasure Data is the enterprise CDP software offering the advanced tool to businesses for managing their data efficiently. It offers a secure application to extend its business environment to meet the customer’s needs. 

Scale your marketing activities with a data drive approach and use the real facts to identify the core area to work upon. Treasure Data allows the firms to connect with the customer and build a strong relationship on their terms. 

Features

Data Integration: Move your existing customer data to the centralized platform to manage it efficiently. The data integration features would be easy to allocate a large amount of data to the advanced storage system.

Data Pipe Line: Pipeline your regular marketing activities with the help of the inbuild application. Let other team member knows what is the task that they have to perform.

Profile Management: Customer profile management becomes easy with the help of the Treasure Data CDP software.

Pros

  •     Useful to enhance the customer experience.
  •     Unlimited customer profile storage facility.
  •     Profile unification to generate a comprehensive report.
  •     Discover the best customer.
  •     Amplifies cross-channel marketing with automation.

Cons

  •     Offering inadequate database functions
  •     Lacks the essential features in the reporting section
  •     The operating manual is not up to date.

Pricing

  •     No free trial
  •     No free version
  •     On-demand pricing option available based on the customization and need of the business.

Emarsys

One of the popular omnichannel customer engagement platforms design to speed up the growth of the business. The Emarsys CDP software is capable of prophesying the future action of the client based on the collected customer data and produce a report for the marketing and sales activity. 

You can achieve a profitable outcome with the help of the Emarsys CDP application. It facilitates the companies to offer a personalized experience to the customer.

Features

Customer Engagement: Now, you can engage your customer with the unified customer data using the API technology.

Industry-Specific Solution: Specific solutions are offered to the companies based on their industry requirement.

Personalization: Complete customization is possible across all channels and devices.

Reporting and Analytics: Generate the measurable reports using the advanced filtration and data-driven application to accelerate your business’s growth.

Pros

  • The CRM functionality gives needed equipment to manage the customer database during the marketing campaign. It is useful to run the email campaign efficiently.
  • Ability to segment contacts based on the various factors and categories.
  • An advanced reporting structure allows you to design your reporting according to your business need.

Cons

  • It isn’t easy to manage an email campaign using the platform as it requires following more steps to create a single campaign.
  •  Customer service is not efficient. Whenever you ask for help, they direct you to silo pages of the content to find the solution.
  • Long-term contract with a high price tag.

Pricing

  •     No free trial
  •     No free version
  •     No pricing option to buy the package directly from the website. 

Salesforce Interaction Studio

Salesforce Interaction Studio empowering the business to engage with their customer in the real-time environment. Deliver the relevant customer experience to enhance the growth of the business. 

Complete personalization and interactive management application built to serve a large number of people through a single platform.

Features

Individual Insights: Now, it is possible to know each customer profile with the CDP application’s in-depth information.

AI-Driven Optimization: AI-backed functions enable the companies to improve the active campaign while it is in progress and take immediate action to the result-producing activities.

Cross Channel Engagement: Use your online and offline marketing activities to connect in a single platform and improve customer engagement.

Testing and Analysis: Use the detailed report to identify all the checkpoints. The analytic report would give an insight into customer action and engagement.

Pros

  • The tool is useful to identify the customer journey in real-time. You can revisit the checkpoint to see what needs to be improved.
  • The machine learning capability of the application reduces the manual work.
  • Real-time personalization of the marketing campaign gives you the ability to optimize the campaign anytime.
  • A/B testing and targeting customers become easy using the platform.

Cons

  • Not easy to operate. You may have to spend several days learning the features and their end-use.
  • Lack of essential third-party integration service. 

Pricing

  • Free 30 days trial available to first-time users.
  • No pricing is displayed on the website. The customer has to submit the quote request to get the pricing details.

Segment

Segment CDP application accelerates the business’s growth with the use of the customer data and makes them available to the respective teams from the centralized platform.

Features

Clean and Organized Data: The CDP application makes the data clean, and neat using the automated algorithm and provides you a customer profile.

Build Insightful customer analytics: Knowing your customer would make a big difference while offering service to them. It will help you make better marketing, product development, sales, and many other departments where the customer receives great experience.

Data Protection and Privacy: The Segment CDP platform has many checkpoints that offer high-end data security functions and protect the customer’s rights to store the private mode data.

Pros

  •     Track every action of the users and gives you a detailed report of the customer journey.
  •     Real-time data processing and reporting functionality.
  •     Get the information about the user’s device.
  •     Offers diversity to integrate third-party applications.

Cons

  •     Lack the consistency across the connector.
  •     Support could be better.

Pricing

  • Free plan available for the beginner.
  • The team plan comes with the 10,000 visitors/month and Unlimited Sources, which will cost you $120/month.
  • All feature business plans are offering advanced customization based on the customer requirement. You can request a quote to get the details.

Exponea

Infuse the customer experience with data-driven marketing activities: limitless optimization, personalization, and added value proposition to expedite your conversion rate.

Features

CDP + AI: The combination of data management and AI-powered technology gives you the power to manage your customer data efficiently. Unify customer data to generate value for both company and customers.

Campaign: Next level omnichannel marketing tool provides easy integration to the third-party application. Reach your targeted audience with a personalized message using a wide variety of channels.

Customer Behavior tracking: The tool uses the data to understand the customer’s need, behavior, and problem. Use the collected data to design the campaign that pushes the right product in front of the client and offers the perfect solution to solve their problem.

Pros

  •     Anyone can set up the campaign using the Exponea dashboard. No technical knowledge or support of the IT team is needed to run the campaign.
  •     One-stop solution to your marketing need. Offers email marketing, test campaign, banner ads, social media, etc.
  •     Monitor your marketing activity performance in real-time.

Cons

  •     It might be a little complicated in the beginning to set up the entire campaign from scratch.
  •     Lacking API facility to access the data.

Pricing

  •     No free trial
  •     No free version
  •     The customer has to send the quote request to receive the customized plan based on the requirement.

Oracle CX

Oracle CS is the cross integration marketing platform offering a wide range of services through a single platform to reduce the marketing efforts and automate the repeated task. Unify your marketing activities in a single view using the platform. 

Features

Unify customer database: Use the platform to unify the customer database using the pre-defined templates. It helps you filter the customer data in objective-based information, which can be used in marketing activities.

Real-time execution: Offers the connectivity to the various platforms simultaneously and collects the data to the centralized system. Scale your data with the help of intelligent AI-powered technology.

Simplifies the Marketing: The tool simplifies the marketing activities and gives you needed help during the campaign. 

Increase customer Loyalty: Build the rewarding space for the customer using the loyalty program. Personalize the campaign and give your customers a chance to participate in the loyalty program.

Pros

  •     Extensive features to organize the customer data in the preferred order.
  •     Reduce the depending on the data management. 
  •     Allows you to connect the existing CRM application with the CDP.

Cons

  •     Scope for the improvement in the Oracle customer support team.
  •     The limitation is encountered in the configuration of the customer area.
  •     Lack of information about the companies. Only big companies are listed. Mid to low-size companies’ information is not available.

Pricing

  •     No free trial
  •     No free version
  •     Reach customer support team to request the demo.

Optimove

Optimove is the most advanced CRM application developed using modern technology for a speedy result. The software is mapped by AI technology that reduces the efforts and generates results based on specific patterns.

Scale your CRM marketing with the intelligent design application and data-centric approach.

Features

Discovery: The AI-powered application uses the data to discover valuable opportunities based on the given inputs.

Optimization: Self-optimizing algorithm tracks the result of your campaign and adjusts the activities to enhance the performance. 

Orchestration: Merge all the channels to a single source and run the personalized campaign for each customer.

Attribution: Read the data collected after the campaign is over to measure the campaign’s value proposition.

Pros

  •     Activity triggers feature help in finding the customer journey.
  •     The personalization feature gives full control over the messaging facility.

Cons

  •     Implementing some of the features requires a technical background.
  •     The interface is outdated. There is a scope for improvement.

Pricing

  •     No free trial
  •     No free version
  •     The demo is provided when you send the quote request.

Blueshift

Blueshift CDP application would give smarter marketing tools to reduce the efforts, save money and increase productivity. Collect information, unify and access the data in a 360-degree view. 

Features

Unify Data: Connect all the offline and online marketing activities to the centralized system to unify the data. 

Holistic View: Gain a holistic view once the data is stored in the system. Automated software reduces the time to input the data into the system. 

Relevant and Real-time experience: The AI-powered software gives a unique experience to the customer. Personalize the customer’s journey can be a plan in advance to make them comfortable in the buying process.

Pros

  •     Personalize retargeting campaign.
  •     Omnichannel integration helps you to connect apps and online platforms.
  •     A predictive score gives you an insight into the future campaign.
  •     Facebook syndication available.

Cons

  •     Onboarding to the application would take a while as several steps need to be followed before you start using the application’s features.
  •     Reporting is fundamental. It could have better with the additional features in the reporting.

Pricing

  •     No free trial
  •     No free version
  •     Contact the support team to request your first demo.

Leadspace

Leadspace offering a CDP platform to run your B2B Sales and Marketing activities using the data and intelligence developed by the AI-powered technology. 

Understand the customer and their need. Promoting personalization engagement through the platform leads to the growth of the business.

Features

Know Your Customer: The automated software process the data to filter the essential information and create each customer’s personalized profile.

Easy Integration: Connect any application to the system and start fetching the information.

Health Analysis: The feature keeps tracking and analyzing the customer information for any update in the existing information. It keeps the customer information fresh and up to date.

Pros

  •     Simple to use platform saves time on the integration and search application.
  •     It offers various sources to pull the lead, which is an advantage for the business.

Cons

  •     Lead quality is inferior.
  •     Contract is inflexible.
  •     The platform is very slow in processing the data.

Pricing

  •     No free trial
  •     No free version
  •     Reach the customer support team and provide your contact details to receive a call back for the demo.

How to Choose a Good Customer Data Platform? 

Selection of the Customer Data Platform (CDP) could be a daunting task. Several software companies offer a wide range of software with advanced features to manage your customer data using a single platform. 

This makes the process challenging and requires a better understanding of the software features before deciding on buying the service. 

Every CDP software subscription plan is designed to serve you for a long-term period. Once you buy the product and allocate the resource, you cannot go back and fix the problem if the software doesn’t work as desired. 

Hence, you should not make the buying decision lightly. Doing your research would give you sufficient information about the product and its end-use. 

You can compare it with the various options available online and make your note to detect the application’s flows. Compare the features with your business need. 

See if the software company offers the services that mandatory for your business and consider the future expansion as well. Once you have clarity on the final product, you can easily identify the best CDP Company to facilitate the desired product for your enterprise.

Furthermore, it is advisable to involve your core team in finalizing the CDP software development company. When more brains are involved, creativity thrives.

Everyone has their views about the CDP application and its end-use. 

Collect all the vital information through internal discussion, note them down on paper, and filter the data to finalize the CDP software’s best features that your business desire to have to use the CDP software efficiently.

Every industry is different; thus, the needs of each business would be distinct from others. Knowing the end use of the CDP software would allow you to mitigate the confusion during the selection process. 

The CDP software is going to handle a large amount of customer data in a single platform. Whenever you are dealing with customer data, you should be 100% sure that the data is safely stored secure platform and handled ethically. 

Your brand name will be at stake if the data is mismanaged, stolen, or used by a third-party application without the customer’s consent. It would create chaos in the business.

Your customer would be frustrated to see you have leaked the data on the open platform or given it to the unethical company that controls the data for their interest. 

The data thief becomes a more popular concept in internet-based business. We live in a data-driven world where the customer database is the new gold. Several enterprises are willing to pay a hefty amount to acquire the genuine user’s data.

Therefore, managing your data using the secure platform is necessary to avoid damaging the companies digital assets.

We have put the essential points together to guide you in the selection process of the Customer Data Platform (CDP) for your business. The information would help you identify the best CDP Company that offers a secure platform to manage the centralized system’s huge database.

1) Involve Senior Management into the process: 

Give your senior management to share their view on the CDP selection process. Get the information from them about the end-use and see where and what you lack when understanding your customer. 

Senior management is the people who are working in the field. They know the ground base reality, which they can share with you. You can use the information to decide what kind of reports you would like to generate using the CDP application. 

2) Define end-use of CDP:

You should understand that the CDP software is a customization application that stores the customer information collected from different online and offline sources. Having the customer’s information could not generate the desired result or increase the revenue of your business. 

You should have clear goals of how you are going to use the CDP database to fetch essential information in the analytical reports. The CDP software’s vital task is to arrange the end report of the customer based on the given inputs.

Without getting the conclusive reports, the CDP software has no use and could not make any difference in growing your business.

3) Determine the tools needed:

In certain cases, the CDP would not work alone. It would require support or the third-party application’s connectivity to fetch the essential customer data and store it in the centralized system.

Before buying the CDP software for your business, you should consult with the CDP application development team to know what kind of tools and technology the CDP software requires to run smoothly.

Share the information of your current application used by your company. Confirm with the CDP development company about the current application’s feasibility and merging the data with the new CDP application.

Evaluate the time and resource you allocate to shift from the existing platform to the full fledge CDP-based applications. 

Every minute you spend upgrading your system to the new application would going to cost the company. Also, the early evaluation allows you to avoid last-minute rush and confusion while in the transition period of a technology upgrade. 

Your management team also would have sufficient time to arrange the existing work to give room for the new change and reduce the team’s pressure during the transition.

4) Gather requirements:

Implement CDP software into the existing business environment would be a long-term practice. Therefore, you should have a separate team that will manage and coordinate with the CDP company during the transition period. Setting up a separate team would make the switch easy. 

The dedicated team would gather the information about the need of the software, reporting structure, customer management system, security, pricing of the software, understand the prospects, and various other important factors that determine the end-use of the CDP application. 

There are several CDP Company that promotes the wide range of services to the buyers. Knowing the CDP application features and connecting them with your need would give you a unique perspective on how the CDP software would help you achieve your marketing goal.

The CDP software you purchase for your business must have the right inbuild tool that will help you to generate the required information in a minute. 

Moreover, the customization features would enable the team to generate the report based on the current business requirement. Complete flexibility to manage your data would give you the freedom to use the customer database to meet your business objectives.

5) Return On Investment (ROI):

Every investment you make in the business must have the ROI as the key point to select the assets. If any of the assets do not show a positive ROI, it should not be part of the business. ROI is the key metric that determines future growth. 

Any business that invests in the technology without considering the ROI would fail in generating the return using the application. CDP is going to be a costly investment. 

Also, the implementation process would take few months to years, and many employees would involve in the process. It is long term commitment that is going to consume lots of resources and energy. If you decide without calculating the ROI, it may lead to loss to the company. 

ROI also helps to identify the core functionality of the CDP that you would be expecting from the software. You can connect each feature that you need in the CDP with the ROI. 

The CDP feature that doesn’t qualify to generate the ROI could not be part of the CDP application. The method will simplify the selection process. 

It will give confidence to the team who is allocating their time to implement the software that we are heading in the right direction and expect a positive return when the CDP software implementation is complete.

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