How to Approach the Era of Tools?
Companies adopted various systems like CMS, ERP, DMP, CDP, CC, and CRM through different departments like marketing (emailing tools), sales (CRM tools), and IT (databases, CMS, ERP, and others). IT, marketing, finance, or company headquarters usually orders these systems, and often they are helping to fill gaps in the technology stack in order to meet company KPIs. Over the years these various systems can become duplicated, outdated, lose compatibility, or they simply no longer generate any value.
You can imagine such a situation where you have public TV license fees, cable TV, and also internet TV services. You can have two, or even all three, but technically you might be paying TV license fees as an extra if the channels are included in your cable or internet TV service. Many providers enable you to do that. But you end up with an extra cost each month because you are either not informed or you are unaware of these policy changes.
As a real-world example, you can have your website search tool and personalization tool. Instead of a unified policy for how your users are tracked on your website, each tool collects its own dataset. It may happen that these data have different quality, logic, or they might be very similar, or possibly even the same! Such tools usually have licensing based on the amount of frontend traffic, so you could be paying double for almost the same datasets. Moreover, you will most likely have data from Google Analytics, but this does not allow you to see the complete picture of your data collected on your website. So, how to get single customer view with all data in one place then?
There are several methods to approach scattered data. From the technology perspective, you can start with your data team implementing, what is called, Data-Centric Architecture (DCA). The best practice is to create the DCA before you start buying any applications or use third-party data. In the DCA approach, we focus on what needs to be done with data, not the source, nor what should happen with particular data from an app. The main benefits of using DCA are improved data integration, data security, data accessibility, and savings over duplicated systems or/and data. A DCA helps us generally keep data cleaner for a longer time.
Simplity is partnering with meaningful technology and tools which help us to better understand and utilize frontend data and integrate these data into the master data management (MDM) tools or client warehouse, all while trying to minimize the duplication of data and costs. How is this possible?
Let us ask Pavel Bulowski, who is co-founder of such a tool called Meiro, for his opinion. Meiro is a new customer data platform (CDP) partner of Simplity.
Pavel Bulowski says…
The term “data economy” has really taken off in recent times, giving rise to an unprecedented emphasis on data management. Whether it’s examining the data architecture to locate the weak points, or optimizing the data collection process, businesses today are leaving no stones unturned to unlock the full potential of their customer data. They say data is the new gold and I couldn't agree more.
First-party customer data is a critical element feeding strategy across functions, be it sales enablement, personalized marketing, or product enhancements. But it also comes with legal complications and companies have to ensure their data collection is secure and compliant to be ready for new changes in the industry such as the end of third-party cookies, etc.
Meiro gives you the luxury of connecting all your data sources (for example, email automation tools, CRM systems, DMP systems, website, and your own custom-build databases) in one place, unifying, cleaning, and stitching the data together. This gives you the Single Customer View which allows you to treat your customers as individuals and segment them into relevant audiences to serve them what they need with perfect timing.
With collected data and precise audience segmentation, you're able to activate these customers in any relevant tools such as email automation tools, notifications in the mobile app, or Facebook Ads – see the list of our integrations.
Ultimately, it’s about introducing efficiencies in your marketing efforts that directly ladder up to your business objectives e.g., did you ever buy an item and two days later receive a discount for this exact product? This is not only wasted effort but could also have a detrimental effect on customer satisfaction and brand reputation. We know it’s hard to keep customer care relevant when you serve millions of customers, that's why it’s even more important to future-proof your business by having the right tools and systems in place in an increasingly complicated world of changing data collection rules.
With Meiro, it's possible to achieve true personalization, through secure, ethical, and effective use of data, accessible in real-time to any business user.
If you're interested in a CDP, how this tool works, and how it will benefit your company, find more information on our website, and try the demo.
Working together in harmony
Do not hesitate to get in touch to learn more about Meiro and how Simplity can support you with the implementation.