CDP Breathes a Second Life into Marketing: How New CDP Tools Boost Customer Acquisition
Highlights from the Treasure Data CDP Spring 2020 Release
- Treasure Data Customer Data Platform (CDP) now has new features that make it easier and cheaper to acquire new customers, administer enterprise-level security and privacy controls, and personalize customer journeys at scale.
- New integrations, for a total of 150, streamline your digital advertising efforts to make you more productive.
- Additional orchestration capabilities help companies to personalize customer journeys at scale.
- Additional global support and new administration capabilities—such as new identity providers for single sign-on—expedite adoption and improve time-to-value.
When consumer behavior changes quickly—due to technology advancement or sudden shifts in buyer preferences—businesses need to respond quickly. Finding customers at the lowest acquisition cost, and keeping them, become even more crucial during times of great economic uncertainty.
The ability to identify the shift in customer preference requires both new sources of data and advanced capabilities to keep up with each customer, even when behavior has changed. Where people prefer to learn about and purchase products and services is a perfect example: Is the person ordering online now the same person who used to prefer to visit a particular store? With a single view of the customer—and the ability to employ new data sources quickly—it’s possible to recognize each individual and present the right offers to meet each customer’s “new normal.”
And if your challenge is attracting new customers, how do you find the people who most “look like” customers you already have, at a cost low enough to make the effort pay off?
300 Percent ROI, Better Customer Engagement and Personalized CX
One company that’s at the forefront of creating these personalized customer experiences is Linden Lab, whose avatar-based product helps its user community role-play, create, participate in virtual worlds, and even practice their DJ moves before performing at real-life events.
Senior Marketing Manager Darren Helton says that Linden Lab’s investment in Treasure Data CDP to personalize its customers’ experiences has made a huge difference in the company’s ability to customize each user’s “Second Life” experience.
“We weren’t fully leveraging all our marketing channels, losing the opportunity to connect with customers more deeply and personally,” says Helton.
Linden Lab’s investment in Treasure Data CDP has made a huge difference in his company’s ability to customize each user’s “Second Life” experience, he adds. The capabilities of Treasure Data has helped with audience segmentation for personalized customer experiences—resulting in dramatic ROI.
“It’s paid for itself more than three times over, easily,” says Helton. Linden Lab has tracked its results closely and reports a 300 percent ROI for Treasure Data CDP.
Easier Ways to Find New Customers—and Keep Them Engaged
Treasure Data’s long-planned, newly released capabilities are important tools that help to handle these problems in a turbulent world. In an environment where being able to get and use data from many different sources could be a major factor in company survival and success, finding ways to use all of your data is paramount.
That’s why Treasure Data is announcing new data connectors—bringing the total to more than 150—which streamline your digital advertising efforts while keeping your team productive. The new connectors include many activation channels and data sources, including LiveRamp®, Magento, Google Drive, Criteo, Snapchat, Google Sheets, Dropbox, Pinterest, Dynalist, TradeDesk, Facebook Leads, and more.
Once all data is ingested and unified within the Treasure Data CDP, the thousands or millions of unified profiles can be used to understand existing customers, and prospect for new ones. Here, marketers get a better idea of their customers’ shifting journeys, behaviors, and preferences, to improve the accuracy of targeting and the relevance of advertising.
Marketers can leverage the connection with LiveRamp to streamline cross-channel advertising within the Treasure Data UI. This integration helps marketers intelligently leverage their first, second, and third-party online and offline data, allowing them to target their customers with personalized campaigns and measure performance across the advertising ecosystem.
Treasure Data CDP can also be used to get more out of existing martech, because it’s largely “agnostic” about which systems are used to store the data, interoperating with most common platforms.
“We’ve found the Treasure Data CDP to be both business-agnostic and highly customizable,” says Linden Lab’s Helton.
“Other products we evaluated really limited our ability to dig into the data. Digital marketers worth their salt really need to be deep in the data, under the hood—in many cases that’s the only way to get a full picture of what’s going on. A canned report only shows you what someone else thinks you need to see. We want to be able to see how raw data comes in, its source, and how the numbers came together,” Helton explains.
Companies such as AB InBev find Treasure Data’s new security and privacy control features—such as Identity Federation capabilities for single sign-on (SSO)—particularly helpful in using customer data to run their global organization.
“At AB InBev, we take a global approach to direct-to-consumer marketing and need to ensure that we are not duplicating marketing efforts across our many brands,” said Lucas Borges, senior manager, Consumer Data Strategy at AB InBev.
“The Treasure Data CDP has enabled us to securely unify our customer data and build complete profiles. The new security and administration features will ensure the right people have access while maintaining customer privacy and security,” he says.
Other new security and administration capabilities include:
- Expanded Global Professional Services to support a growing customer base
- Granular permissions for platform administration and greater privacy regulation compliance
- Full-service Identity Federation for enterprise-grade authentication management
Experienced Marketers Know Everything Begins With Customer Understanding
Marketing has grown increasingly tough and disrupted, and most experts say this disruption will continue for a long time to come. But experienced marketers know that no matter how chaotic the environment, it pays to keep calm and look at the data to understand how to carry on. Those who remember this principle are the ones most likely to figure out how to acquire new customers and engage them with personalized products and services. And they know that data is the first step in finding solutions to the “new normal” we all face.