Customer Data Platform is a new product within SAP’s Customer Experience portfolio. This Platform collects, organizes, and enriches customer data from various sources. When the data is unified, it allows businesses to understand the customer’s wants and needs, to bring them personalized experiences.
In addition to marketing uses, SAP Customer Data Platform adds context to commerce, sales, and service experiences. SAP Customer Data Platform improves customer experience while maintaining the customer’s rights to data privacy.
With Customer Data Platform, you can use enriched customer profiles for a variety of customer experience enhancements. Specifically, dynamic segmentation, activity indicators, audience management, and personalized journeys. When you use segmentation, you can group customers by demographics or attributes – such as ‘high spenders.’ Activity indicators of enriched profiles can display the total amount spent or the total amount of support tickets opened. Manage audiences according to their specific zip codes. Personalize journeys by sending push notifications that unlock VIP status. Further, by collecting and managing customer data, organizations know the customer at every touch point. This way you can deliver relevant experiences and build customer loyalty.
How does SAP Customer Data Platform improve customer experience?
3 main pillars describe how SAP Customer Data improves customer experience.
1. Unify all customer data sources
Customer data is collected from every source to build a rich, unified customer profile. It’s a robust profile that holds 1st party CRM data, along with 2nd party, 3rd party, and offline data. Event and activity streams, transactional, behavioral, experience, and back-office data is also collected. This aggregation results in real-time, in-the-moment, unified customer data.
2. Respect data privacy
Customers have the ability to control their data and consent. Meaning if you don’t receive consent from the customer, their data can’t be used. This enhances transparency into data collection and usage practices. Due to this, regional governments have applied customer data and processing regulations. So, with a holistic data privacy and governance foundation, businesses can operate within the applicable regulations and reduce compliance risk.
3. Personalize engagements
Unified customer data displays in a way that is easy to understand what the customer is doing, when the customer is doing it, and why the customer behaves a certain way. Businesses can then anticipate customer wants and needs. Understanding your customer will allow you to deliver relevant, personalized engagements to the customer.
Benefits of SAP Customer Data Platform
- Increase overall income by leveraging customer data for personalized upsell and cross-sell opportunities
- Reduce cost: Customer Data Platform minimizes customer data discrepancies to better access risk
- Decrease risks: Customer Data Platform ensures the capture and enforcement of data purposes
- Increase customer engagement by providing personalized experiences
- Build customer relationships by allowing them to control their data and being transparent regarding customer data usage
- Retain customers by maintaining consistency of customer experience through all channels
SAP Customer Data Platform connects various types of customer data. Thus allowing organizations to improve customer experiences by delivering personalized experiences. You can validate, match, and merge the data you’ve gathered into identities and attributes. Your customer’s data privacy is respected with the use of enterprise consent and preference management. The platform unifies customer data, segmentation, and activity indicators with real-time calculations. Which will allow you to understand customer preferences and behaviors. You can leverage the customer insight gained, so that you can provide them with personalized engagements. SAP Customer Data Platform activates any marketing, sales, service, or commerce engagement systems. So the customer experience becomes unique, personalized, and omnichannel.
Please reach out to #teamasar if you have any questions regarding SAP Customer Data Platform.