Customer data platforms (CDPs) knock down data silos to give marketers the kind of 360-degree view they need to create sophisticated, deeply relevant marketing campaigns. Want to know where to start? Join this VB Live event where we’ll explore how software company Atlassian leverages CDPs for marketing wins.
More data, more problems shouldn’t be the case — but when it’s a Scrooge-vault wealth of data stuck in fragmented silos, it’s all just Monopoly money. Customer data platforms (CDPs) to the rescue.
Atlassian, which makes collaboration software, was an early adopter, says Jeff Sinclair, senior point manager on the growth team. At the company, he owns and manages a platform they call the Engagement Platform, which is designed to harness a wealth of customer data to deliver a better messaging experience that makes their customers more effective at using their products.
“I’m trying to have a deeper understanding of how users are actually using products,” Sinclair says. “If I look back five years ago, we didn’t have good insights into how our customers were tracking with our products, what they were doing on our marketing properties before they came into the products, or what they’re actually trying to solve — so we ended up with a one-size-fits-all marketing solution, where every customer gets treated exactly the same.”
Customer data platforms were the turning point for their marketing, Sinclair says.
“The need for a CDP in the first place is the prevalence of high scale data, with more and more companies having a lot of customers that are generating a lot of data,” he says. “Combine that with the diversity of end product analytics data from your marketing websites, and from your entitlements and billing system, and from your support ticketing system, and from your behavior system. It all means that you need to have a very robust way to consolidate this into a single user profile, which is an incredibly complex task — and it’s why people look to customer data platforms, to help manage that overhead, of, ‘How do we make this a simple proposition to figure out who our customers are, and what they’re trying to get done?’”
They’ve enabled a one-to-one marketing experience, where they can take into account what a customer’s trying to do with their products, which can be inferred based on their behavior even before they start using them, he says. “We’re developing a 360-view of who a customer is, and then using that to to ensure that they get value from our products.”
CDPs are especially valuable for turning the sheer volume of data into actual insights, Sinclair says.
“There’s a point when big data becomes not useful — too many events, too many customer actions for us to figure out the signal from the noise,” he says. “You get to a point where you’re trying to generate behavioral triggers based on every single action, which may give you a really granular way to target users but may not be actually beneficial, from a business outcomes perspective.”
Customer data platforms can offer predictive scoring and machine-learned lookalike segmentation, not based on specific actions, but based on collections of actions.
“That predictive scoring becomes incredibly important to understand the overall behavior of the customer, rather than specific actions that they’ve taken,” he explains. “It’s critical for not just, What message do I need to deliver, but, Do I need to deliver you a message at all?”
Three or so years ago, however, CDPs weren’t as common, especially those that could tackle the needs of an organization like Atlassian, in terms of the scale of that data, the way that they wanted to model the company’s customers, the complexity of their product offerings.
“But that’s changing,” Sinclair says. “With the evolution of the market technology landscape over the last few years, there’s more and more tools in the market, that can address some of these needs — and a constant evaluation process has to be undertaken to find tools that can fit your needs and align that with your business requirements from a customer data perspective.”
To learn more about how customer data platforms can harness your data, how to take best advantage of that power, and what you need to look for in a CDP, don’t miss this VB Live event!
In this VB Live, you will learn:
- Key considerations when deciding to build versus buy a customer data platform
- How companies are taking advantage of CDPs for more relevant communications
- How data science can improve marketing efficacy
- The trends and market factors driving the need for customer data platforms
- Jeff Sinclair, Product Manager, Engagement Platform, Atlassian
- David Raab, Analyst and Founder at The Customer Data Platform Institute
- Jeff Hardison, VP of Marketing at Lytics
- Stewart Rogers, Director of Marketing Technology, VentureBeat
Sponsored by Lytics