Data-driven marketing is definitely the next big transformation in marketing. It yields a significant positive impact on the top and bottom line of businesses when done effectively. According to a survey by Forbes, companies with data-driven marketing strategies are six times more likely to be profitable year over year. But remember, being data-driven doesn’t mean adopting the latest AI tools into your tech stack and accumulating loads of data that sit in silos with no actionable insights.
That’s the precise reason that so many enterprises are recognizing the value that a Customer Data Platform (CDP) delivers. The numerous discrete platforms used by Enterprises, the proliferation of their customer channels, the need for personalization, and increased customer awareness, etc., make the CDP platform like Segment relevant for Enterprises in today’s time.
Segment is a tool that helps Enterprises pull together all the interactions from a customer, organizes it (sorts, removes duplicates, etc.) and delivers a 360-degree customer view. Organizations are adopting Segment solutions to understand customer behaviour and design better campaigns to give a personalized experience to their customers.
A good Customer Data Platform should offer features and support use cases valuable to a diverse set of stakeholders and offer high scalability to support their growth and future plans. Segment enables Enterprises to empower their marketing, product, analytics, and engineering teams with the quality data that they need, to drive business impact.
Let us understand how Segment helps Enterprises Accelerate Marketing and Product Strategy
Digitization has created many touchpoints for customers or prospects. Segment collects data from every channel where customers engage with your brand through a single API, and puts it into a central system. It can collect first-party data from websites, mobile apps, CRM systems, payment systems, email systems, advertising campaigns, customer support systems, etc.
The technology landscape of Enterprises’ marketing function has evolved over the last few years and so are the number of different platforms and tools they have adopted. The core competency of a CDP is the ability to easily route data to the tools you use. That said, Segment enables you to collect a master set of customer data and then activate that data in the tools used. It also supports server-side integration components so the code can be removed from your applications whenever required. Many engineering teams are turning to Segment because they can save millions of dollars by being able to quickly integrate and experiment.
According to Forrester’s Total Economic Impact Report, Segment helps companies test marketing campaigns five times faster and deliver a 33% better conversion rate.
Segment unifies all interactions of your customer into trusted profiles. These profiles help the marketing team in launching customized marketing campaigns across different channels, and engineering teams to deliver personalized, real-time in-application experiences. Segment’s unique feature “Persona” allows you to build Computed Traits on top of your real-time or historical data. This creates more granular audiences and enriches your Profiles to make sure you have the right data points to personalize your campaigns.
Product teams must have visibility on how customers use their products and the impact their products make on the business. Access to high-quality data helps product teams make data-driven decisions. The complete customer view that Segment offers not just allows marketers to personalize different channels but also lets the product teams to quickly run A/B tests and drive product adoption.
Segment provides the best product analytics tools, A/B testing tools, and data warehousing tools.
Consumers today are more aware of data security vulnerabilities and their right to adequate data protection. Governments worldwide are also enforcing strict data privacy regulations like GDPR and CCPA. Non-compliance to these has huge financial implications on Enterprises. Hence, it’s very critical to manage the data security well through all the systems.
Segments’ features like automatically detecting and classifying personal information in real-time, ability to set rules to proactively block, hash, or route customer data to comply with your company’s privacy requirements and auto managing data subject rights, make it a highly robust and secure platform.
In a nutshell, it is a fast, scalable, and a reliable CDP platform for today’s Enterprises. It derives maximum value from your existing infrastructure, reduces your operating costs, and empowers all your teams to make data-driven decisions.
TransFunnel is a valued Segment Partner. Our experts can assist you in making customer-centric, mission-critical business decisions using the best features of the tool, including the user-profiles. We help you in every step of the way to implement the core features of Segment for your business and attain maximum profits.
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