In Real Time: Using a CDP for your Customer Lifecycle Management

Posted in Cloud for Marketing
Wondaris • November 10, 2022

From the first look at your website, through to adding to cart and checkout; from new prospect to long-term, loyal customer - everyone who interacts with your brand sits somewhere in the your sales funnel and is at a unique stage in the customer lifecycle journey.

Depending on your product or service, whether B2B or B2C, and who your target audience is, this customer lifecycle will vary between organisations and, unsurprisingly, so will the messaging you use to engage, and at what point.

The goal, of course, is to move your prospective customer through the lifecycle stages to purchase. Knowing what information they need, and when, is key to success. The management of the customer lifecycle is also inextricably linked to customer experience; the journey being where a customer is, their experience being how they feel about your brand at that (and every) stage.

Why Use A CDP?

A Customer Data Platform, such as Wondaris, collects first, second, and third-party data from multiple sources, throughout the entire customer lifecycle.

The huge benefit of capturing information (particularly 1st-party data) is that it allows messaging to adjust and align precisely with where a customer is right now in terms of their intent and interaction with the brand.

Removing data silos increases an organisation’s agility to respond to new information as it arrives, delivering a better, and seemingly very personalised, customer experience. 

For example, a repeat-purchase, loyal customer doesn't need (or want) to see ads introducing your product - rather, a better return on investment for that segment might be recognising their VIP status and nurturing the ongoing relationship. 

Or, a customer filled their shopping cart, but didn’t check out? Let’s send a timely message in response, and see if you can entice them to convert.

Using a CDP’s capability to manage the end-to-end customer lifecycle affords other benefits such as:

  • Automation removes the need to manually program campaigns and messaging. The ability to automate the collation and activation of data into multiple channels with simple click-through workflows reduces the time to roll out campaigns and delivers better efficiency and ROI.
  • A single customer view derived from multiple data sources provides the most accurate information about individual users and their engagement at any given point in time - and continues to build on this data with every new interaction.
  • Collecting data throughout the entire customer journey means more personalised marketing campaigns for each stage of the sales funnel, driving greater acquisition and retention of customers (and often at a lower cost). Additionally, it suppresses redundant messaging (such as our first example above) so as not to disengage those further down the funnel.
  • Being able to collate and store such specific data in a privacy-safe way.

The goal state for digital marketers is to have a deep understanding of their customers, know where they are in the sales funnel, be able to deliver personalised, contextual messaging at those key milestones - and adjust in real time.

By harnessing the ability of a CDP to remove the guesswork, and do the heavy lifting of capturing information gives marketers a great advantage in being able to deliver customer-centric, relevant and personalised experiences throughout the entire customer journey.

The Wondaris CDP allows you to link all of your business and marketing data sources so you can better understand what’s driving people to your brand and how you can ensure they stay loyal to you long-term. Connect with the Wondaris team today to find out more about the benefits working with a CDP partner.

Want to try Wondaris? Get in touch.

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