How to Maximize Your MarTech Stack Investments with Complete, Actionable Customer Data
The universe of marketing technology solutions has grown from 150 to ~5,000 in the last five years. This dizzying growth has overwhelmed marketers looking to pick solutions that best meet their business needs. An often overlooked consideration in this process is that marketing technology effectiveness is tied to the quality of customer data that you’re using to power the stack. Access to unified and usable customer data can help you segment your audience, create compelling customer experiences, and drive top line growth without compromising any of your creative ideas.
The average B2C marketing technology stack today consists of 12+ solutions. Here’s how investing in a Customer Data Platform can supercharge your existing marketing technology investments:
- Site & App Personalization / Recommendation Services
- Predictive Analytics Services
- Data Enrichment Services
- Marketing Clouds
- Data Onboarding Services
- Business Intelligence Tools
- Customer Relationship Management
- Multivariate Testing Tools
- Data Management Platforms
Site & App Personalization / Recommendation Services
Site and app personalization and recommendation services connect customer behaviors with products, offers, and user interface look and feel. The objective is to drive customer engagement by providing the most relevant product recommendations and the friendliest navigation and search experience for the customer across touchpoints. Site and app personalization services drive significant customer engagement and conversion as long as they’re being fed with precise, timely and complete customer data. Amperity’s customer data platform offering makes this possible.
This is a highly complementary relationship where Amperity develops comprehensive customer profiles and then programmatically sends a summarized version of those profiles to personalization services. The personalization services then use these profiles for developing appropriate recommendations. When customers of brands interact with these recommendations, their interaction data like clicks, impressions and purchases is captured and flows back into Amperity where it’s appended to form even richer customer profiles.
Predictive Analytics Services
Predictive analytics services use data, statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data. The accuracy of these services is directly tied to the comprehensiveness and quality of data being used to generate these predictions.
Unified and consistent customer data can dramatically improve the accuracy and effectiveness of Predictive Analytics Services. Amperity uses probabilistic & deterministic techniques to dynamically create multiple customer profile sets - one set for accuracy based communications, one for broad reach and one that’s optimized for both. These complete customer profiles can power your predictive analytics services and also evolve dynamically with your data.
Data Enrichment Services
Data enrichment services (often called 2nd or 3rd party data providers), are tools designed to enhance a customer record with useful profile information above and beyond what a customer has already given to a brand directly. These services are often called “Data appends, data hygienization or cleansing.”
Marketing clouds typically include email marketing, mobile marketing, and data management solutions that can be used for marketing workflows to acquire new customers, retain existing customers, and orchestrating journeys across channels. No marketing cloud application addresses the underlying first party customer data problem i.e. the fact that you have customer data in lots of data sources today. The typical solutions for this problem are manual, buggy, and expensive to build and maintain.
Amperity excels at integrating with all the marketing cloud data sources, connecting the data to create complete customer profiles, and then programmatically populating these marketing tools with the freshest customer profiles and attributes you want to use in segmentation or targeting. Since the customer profiles now have significantly more and useful attributes, your marketing tool can be used to build micro audiences - as small as 1:1. Customer interaction data (opens, clicks etc.) is programmatically brought in and appended to customer profiles within Amperity and these richer profiles are now available for action, not just in the marketing automation tools, but also analytics, predictive modelling etc
Data Onboarding Services
Data onboarding vendors help advertisers extend the reach and quality of advertising segments by allowing marketers to bring customer data segments into their digital advertising audience targets. These can also be thought of as a necessary bridge between CRM data and targeted display or video advertisements. Onboarding vendors are not able to aggregate multiple types of data on a customer, such as their transactional history or loyalty data. This data can also be used to create higher quality look-alike models. Models that will perform better when they are founded in higher quality customer data.
Brands should plan to use Amperity alongside an onboarding vendor. Amperity enables the most complete set of data to be sent to an onboarding vendor, for better match rates, and therefore better reach, and better segmentation in digital advertising campaigns. This improves campaign efficiency, performance, and ROI. Using Amperity, a brand can create a richer customer file, with broader identity data about the customer to facilitate a better match. Amperity can also improve the richness of the profiles for better segmentation.
Business Intelligence Tools
Business intelligence (BI) is an umbrella term that refers to a variety of software applications used to analyze an organization’s raw data. BI as a discipline is made up of several related activities, including data mining, online analytical processing, querying, visualization, and reporting.
A BI tool is most effective when it’s mining, analyzing, and reporting on unified, consistent, and accurate customer data. This is how Amperity can help make BI tools more potent and effective. Amperity can ingest customer data in a matter of weeks without the need for any ETL on the customer’s part. We then use probabilistic & deterministic techniques to dynamically create multiple customer profile sets - one set for accuracy based communications, one for broad reach and one that’s optimized for both. So you get more complete customer profiles, which evolve dynamically with your data.
Customer Relationship Management
Customer Relationship Management (CRM) systems help businesses manage their customer and business relationships by providing one central location to gather present and historical information, automate manual business process, and communicate with prospective and current clients in a timely fashion.
Multivariate Testing Tools
In multivariate testing, you identify different sections/factors on an experience (page, app etc.) which affect conversion rate. Different variations of those factors are created, which are then combined to give rise to multiple versions of the experience. Multivariate tests take more time than A/B tests to show results, but are more likely to produce better results.
The ideal marketing technology stack for B2C companies will include both Amperity and a Multivariate Testing Tool. Amperity enables a unified, consistent, and usable view of customer data. Marketers can use this data to better segment their user base and run an impactful set of tests to drive incremental revenue and margin growth. Unified customer data also helps marketers do a better job of identifying the right set of variables for driving new customer acquisition via website, email, etc.
Data Management Platforms
A comprehensive consumer data strategy requires the ability to manage several types of customer data. Amperity specializes in managing the personally identifiable information of your customers, connecting this data to their purchase histories, loyalty status and behavioral data to build complete customer profiles. These profiles fuel personalized marketing, targeted advertising campaigns, and customer analytics.
In contrast, a Data Management Platform (DMP) manages anonymized data for targeted display or video advertising use cases, creating large, anonymous audiences coarsely segmented based on age, search terms, and inferred interests, many of which are often inaccurate. These profiles do not contain email addresses or other PII and cannot be used for retention marketing, customer loyalty, or customer analytics use cases.
DMPs become more powerful when used in tandem with a CDP like Amperity. By sending unified customer data to a DMP, it becomes possible to create highly granular target audiences using look-alike and custom audiences, which maximises the ROI of advertising campaigns and technology investments.