Real-time data platforms can bring a lot of benefits to your business. If you’re not taking advantage of them, it’s time to change that. In this post, we’ll look at five ways a real-time data platform can help improve your business: one-to-one marketing, improved customer experiences and conversions, higher revenue and profits, better business decisions, and increased employee productivity.
One of the best benefits of real time CDP is that it opens doors to one-to-one marketing. One-to-one marketing is a personalized marketing strategy that uses data to target customers with personalized messages. It improves customer experience, increases conversions and boosts customer satisfaction.
So, as Adobe Real-Time CDP puts it, CDP makes “personalization for every customer across every touchpoint, every time” a reality.
Improved customer experiences
Customers can get the information they need when they need it. This is a huge benefit for both businesses and consumers.
For example, if you’re trying to decide between two products, real-time CDP will allow you to access all relevant information in one place so that you can make an informed decision without having to reach out again and again for more details.
Higher conversions and revenue
Real-time data platforms are the key to higher conversions and revenue. In fact, they offer an average of 27% more revenue per visitor and as much as 40% more revenue per user.
And these benefits aren’t just for eCommerce sites—they can also be applied across industries like retail, gaming, travel, financial services, and more.
Better business decisions
Real-time data platforms make it easier to make data-driven decisions.
There are five key components that go into making a real-time decision:
- The first is being able to access and interpret the data you need quickly, which can be accomplished by having access to all of your customer data in one place.
- The second is being able to understand the best way to use the information you find, which can happen when you have a good understanding of how your business works and what kind of insights are relevant at any given time (for example, if sales have been low recently).
- Thirdly, businesses should know how they will use the information they find in order to take action on it—for instance, if there’s a spike in new clients coming through an online channel during certain times of day, then maybe you should shift some marketing dollars over there instead!
Increased employee productivity
Real-time data platforms are excellent for increasing employee productivity in a number of ways. For example, they can help you identify patterns in your company’s workflows and processes that lead to bottlenecks and delays. These insights can then be used to create more effective systems; for example, if there’s often a delay between when an order is placed and when it’s delivered, you could use real-time data platforms to adjust your production schedule so that there are always enough orders ready before needed by customers. Real-time data analytics also make it possible for companies to better plan their workloads.
There are many reasons to choose a real-time data platform over traditional data warehouses. In this post, we’ve highlighted five of the most important benefits of real-time data platforms.
All businesses benefit from having access to real-time data and insights, but it can be especially valuable for companies that rely on live customer interactions to succeed. With real-time CDP, you can collect and analyze any information as soon as it happens, so you know exactly what’s going on at all times!