Many factors help determine a company’s brand. However, two stand out: marketing and customer service. The way a business presents itself to consumers when trying to sell a product or service, combined with how that business treats its customers, is a potent mix that highlights its intentions and characteristics.
In order to establish a marketing apparatus and customer service system, modern businesses need software. But not just any kind of software. The following are five different platforms every business needs to have the best marketing and provide the best service to their customers:
CDP
The business world is getting transformed by customer data analytics. In order to amass that data and make sense of it, companies use something known as a customer data platform (CDP.) A CDP is preexisting software designed to help marketers and service personnel improve their operations on a customer-to-customer basis. Harnessing the power of predictive analytics and automation, a CDP assists companies in developing individualized approaches to outreach, assistance, and follow-ups.
CRM
It’s easy to confuse a customer data platform with a customer relationship management tool (CRM), so let’s outline the differences. While both types of technology collect and analyze customer data, the type of data is different. A CRM is a single-source database designed to keep track of customer interactions and automate the sales process. The key distinction is a CRM contains information already known to a company, whereas CDP is a collection of data gathered from outside sources, including CRM.
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DMP
A data management platform is designed to organize and execute digital advertising on external marketing platforms. It’s an essential piece of kit for companies with active campaigns on social media, popular websites, and search engine services. Unlike the information accumulated with CDP and CRM, the customer data that goes into DMP is anonymous, making it helpful in detecting consumer trends and habits without getting clouded by individual traits and patterns.
MDM
A master data management platform is an essential tool for IT departments working within massive multichannel companies. With MDM, businesses gather multiple customer identities and synthesize them into a consolidated “golden identity.” The data generated by MDM then gets incorporated into a company’s customer data platform.
MMH
Today’s customers are reached through a multitude of channels and clouds. These include email, text message, social media, and niche. A multichannel marketing hub keeps track of all these outreach efforts. Without MMH, successfully designing and managing marketing campaigns across multiple channels becomes increasingly tricky.
A collaboration of the software mentioned above is key to business success. By amassing a comprehensive suite of marketing and customer experience software, companies are better prepared to handle the complex world of digital sales and e-commerce. At the same time, these platforms prevent businesses from losing sight of the personal connections that remain so crucial for developing long-lasting customer-business relationships.
It’s also essential for readers to know the list above is not comprehensive. Data lakes, digital personalization engines (DPE), and data event distribution platforms (DED) are other standard components of modern marketing and customer service management. Business leaders are encouraged to reach out to consultants and advisory groups to determine the right combination of software to serve their specific needs.
Branding is everything today. But what goes into defining a company’s brand? The two most impressionable factors are marketing and service. One showcases what a business claims to be. The other reveals how they are in the real world. Put them together, and customers can develop an accurate assessment. With this in mind, it’s critical for companies big and small to utilize software to manage these elements as best as possible.
