Using a Customer Data Platform for retargeting can increase revenue, improve ROI, and cut customer acquisition costs.
Customer Data Platform
July 23, 2020
Using the Customer Data Platform for retargeting can increase revenue, improve ROI, and cut customer acquisition costs. Find out how CDP can help you get all that and more!
Marketing processes must be prepared to capture and recapture leads and attention at any time. Bottlenecks throughout the strategy may indicate loss of opportunities and profits, especially if the approach used is a generalist.
Understanding who your audience is has never been so fundamental to achieve success. There is no more room for cold interactions or bloops at the buyer’s journey, including retargeting prospects.
Some particularities must be taken into consideration to create an effective retargeting campaign. Customer Data Platform (CDP) is your best source of information to reach the perfection you need. Keep up to discover how you can do it!
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Most parts of people’s lives are now digital. It’s been a data-driven era, and every step taken online is traceable. That track leads data marketing straight to our devices. Data marketing is a strategy to optimize decision-making, getting them to be more assertive.
Those decisions are based on information gathered by the company itself or crumbs users left behind. Action plans are developed based on the collection, storage, tabulation, and analysis of a large volume of data on data marketing.
This is the most professional way to create campaigns that can bring the return you are looking for. Here, data will guide you through establishing a dialog with audiences that really want to hear from you and may also want to spend their money on you.
Among real business players, there is no more space for guessing and trying with no proper orientation. Speculation is one of the most dangerous enemies of digital marketing nowadays.
It makes you skew data for something you want. To speculate offers gives you false perspectives and a distorted view of what you should be doing instead. Opinions cannot be taken into consideration in a data-based deliberation.
Against data, there are no arguments. So, it is crucial to let go of perceptions and cut off saying what you “think is best”. Your company needs to focus on accurate information and trustable data.
As important as knowing whom the right audiences are supposed to campaign to is understanding how ready customers are to spend their money on you. The most appropriate way to get that answer is to address funnel stages to the process.
The funnel, also known as sales funnel or pipeline, represents the phases your consumer should go through to become more mature and well-educated, to purchase your product or service finally.
Recognizing which stage your audience helps the conception of materials focuses on giving the right type of information your customer needs at that level, also called Nurturing. After being educated, they evolve on the funnel stage, getting closer to the bottom.
Usually, the funnel has three stages in its structure: top, middle, and bottom. Each one has different characteristics and functions in the buyer’s journey. To recap how they work, check out this brief explanation:
This stage of the pipeline is where it all begins. It is where your prospects and target audience enter their buying journey in your business strategy.
The main idea here is to help them better know about the subject, acknowledging their pain so they can see a problem to be solved.
After providing the fundamentals so they can understand their problem, it is time to help them see the best solution.
This is where your audience becomes a lead because they know you are a great source of relevant information to solve their situation.
This may not be the right time to offer your product or service yet, as the only solution and ask them to buy it. Instead, help them understand better how to get the right answers throughout their quest.
Finally, after nurturing leads and convincing them that your solution is best, it is time to convert them.
The bottom is when customers are most prepared to become a client. At this point, they hold precious clues to realize how much they need what you are offering.
Content-focused on your top features, customer referrals, case studies, and favorable, expert analysis are excellent materials to combine with your sales team’s power.
What would happen if a lead, at the end of the funnel, just gives up? Or at any other funnel stage. How could you rekindle their desire and bring them back to you?
One of the most effective ways to recapture lead’s attention is through retargeting. To retarget means to hit the audience with segmented ads. When you know the spot where the lead left your funnel, it gets easier to offer something qualified to that stage.
Although, to know where your lead’s dropout point was, is not enough. There are some more specifications you need to know to increase and enrich your approach. And that you can get from the Customer Data Platform.
It is dangerous to presume your lead has reached you through desktop devices and channelize retargeting efforts and investments only to that platform. You can not do that!
On the Customer Data
Platform, you can see what kind of device your runaway lead is using, then design the best ad plan of action to impact them with higher chances of success.
We already know it is estimated to be a domain over 92% of mobile internet users in 2021. That high percentage of users spend only 8% of their time on browsers. The rest of it is on applications and other features.
So, you need to consider those types of information before putting content and money out there.
Having in mind that those whom you are retargeting already know you, all you need is a smart way to convert. There is no need to push here. The effort to engage will be lighter than when the strategy was trying to get new visitors’ attention.
A smart retarget solution made by CDP can help you approach the right way, investing the right amount of money, at the right time, with the right product or service. The result: sales and profits increase.
When you retarget, you also recall your brand to the audience. Before buying, they need to be exposed several times by the wanted product or service.
Inevitably, your name keeps fresh on their minds, making them remember that they want to have what you are offering.
This is an excellent opportunity to track moves and capitalize conversions. CDP is not just a traditional data source. It has made it possible to monitor and process the audience’s footprints and captures their intentions with retargeting campaigns.
As the head of marketing in your company, it is crucial to foresee customer activities. No buying process is linear. So, having different paths, based on reliable data, can provide decent support regardless of how they go through.
Get to know better some of the situations Customer Data Platform can increase the return over your investments (ROI):
This will be one of the first spots in your company to be benefited from CDP. An adequate marketing plan depends on relevant data to be built, set, improved, and analyzed. Since data is everywhere, it might get challenging to gather the right information the team needs.
But with the Customer Data Platform, they can get a cohesive and organized database, able to offer precious insights. Talking to the right audience, at the right time, your chances of conversion gets higher.
Now your strategy is ready to establish communication with those who want to know about you. It is time to re-think the budget spent on paid traffic.
This type of assertiveness provided by the Customer Data Platform makes your team realize how much they should invest in each audience.
Conversations can now be made by knowing when and where your lead is more inclined to be approached and listen to what you’ve got to say. There is no more need to make moves at the wrong timing, scaring your customer away, and wasting money.
So far, there’s been a focus on marketing practices, but CDP is a resource that integrates not only data but also teams.
The early consultants attending to customer support have proper knowledge of whom the audience creates a more polished user experience. Teams will know, from top to bottom, the best way to be there for them.
Now you’ve come this far. We want to show you how real the benefits of using the Customer Data Platform are in your strategies. For that reason, we are giving you the e-book Customer Data Platform 2020: the future of marketing and sales.
A data revolution is being made! Arena wants to help you survive and thrive in the future. So, click here and download the e-book for free right now!