#MarTechFest - Henry Li
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This document discusses how customer data platforms (CDPs) can help companies better understand customer journeys by collecting and unifying customer data from different sources. It describes how CDPs create a "golden record" for each customer to map their complete journey. With more complete data, companies can improve customer segmentation, deliver personalized messaging, and achieve better business results through higher conversions and loyalty. The document also notes CDPs can do this while respecting privacy regulations by using data to create trusted, valuable experiences for customers.
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#MarTechFest - Henry Li
- 1. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited Henry Li Director of Business Development Head of Agency & Digital Marketing Technology Partnerships CDPs and the Customer Journey October 30, 2019
- 2. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited Arm Treasure Data 400+ Customers Founded in 2011 Acquired by Arm / Softbank 2018 Arm Revenue (FY18) $1.9B 6,000 Arm Employees 95% Smartphones use Arm 70% World’s Population Uses Arm
- 3. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited How did we get here? Planes…
- 4. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited Trains…
- 5. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited …and automobiles!
- 6. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited Where did we go, what did we see, whom did we meet?
- 7. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited A Dizzying Array of Different Tools & Apps to Track Our Personal Journeys
- 8. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited Airline Mobile Check-In Point-of-Sale Purchase Social Media Post Hotel Mobile Check-In Collecting Data From Different Systems to Create My Personal Journey Leave SF Buy a pizza and beer Arrive at Heathrow Airport Check into your hotel Ride Sharing App Request Uber to get to hotel
- 9. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited Customer Journey 1 Customer Journey 2 Customer Journey 3 Customer Journey 4 Customer Journey 5 Create Personal Journeys for All Your Customers – Tying Together Data From Different Systems Discovery PurchaseIntent Consideration
- 10. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited CDPs – Technology That Collects & Unifies Customer Data From Multiple Data Sources Customer Data Platform CDP Customer Journey 1 Customer Journey 2 Customer Journey 3 Customer Journey 4 Customer Journey 5 Discovery PurchaseIntent Consideration
- 11. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited Different Systems Use Different IDs to Identify the Same Person James Bond Mapping a complete customer journey requires creating a single “golden record” of the same person.
- 12. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited Millennial Digital Trendsetter – HIgh Value Customer Segment Suburban Soccer Dad – HIgh Value Customer Segment Millennial Digital Trendsetter – Browses But Never Buys Customer Segment Millennial Digital Trendsetter – Churned Customer Segment Suburban Soccer Dad – Churned Customer Segment More Complete Customer Journeys Leads to Better Segmentation Discovery Purchase Customer Data Platform CDP Intent Consideration
- 13. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited Better Segmentation Leads to Better Personalized Messaging Don’t be a stranger…we’d love to see you again! Half off your next purchase. #welcomeback 20% Off Redemption Code – Use at Your First Check Out #shoppingcartsavings Data Collection & Customer Segmentation Campaign Activation Millennial Digital Trendsetters – Browse But Doesn’t Buy Value Driven Suburban Families – Churned Customer Customer Data Platform CDP
- 14. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited Personalized Messaging • Better customer experience • Higher conversions • Better retention • Greater brand loyalty • Lower churn Better Personalization Leads to Better Business Results
- 15. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited But wait…what about all this talk around data privacy? Data Collection GDPR CCPA
- 16. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited Personalization and Privacy With Purpose Privacy & Regulation Faster and more seamless check-out Recommended playlists for better music discovery Recommended videos to watch Trusted Personalized Experiences Collect Customer Data Drive More Personalized Experiences Deliver More Customer Value Use customer data to build trusted, personalized experiences that deliver real customer value.
- 17. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited COLLECT UNIFY ANALYZE ACTIVATE ADVANCED BIG DATA PLATFORM Cloud-based | Secure | Scalable | Persistent | Schemaless PREDICTIVE SCORING ACTIVATION Treasure Workflow Audience Studio Segment Builder | Machine Learning Library Profiles API Pre-built ConnectorsPre-built Inputs Integration Online & Offline Data IoT Devices Web Logs Mobile App Logs Social Data POS Data CRM Data Customer Surveys E-Commerce User Demographics PROFILE MANAGEMENT DATA PIPELINE SEGMENTATION Personalized Communication DATA INTEGRATION Advertising Website Business Intelligence Chat MessagingPush Notifications Loyalty Apps Customer Data Platform – Collect, Unify, Analyze & Activate Your Customer Data Email Social Media
- 18. Predicting Who is Going to Buy a Car
- 19. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited From a Non-Unified Customer Journey … Advertising Event3rd Party webWeb PurchasePublic DMPProspects Dealership Telematics Digital / Online Physical / Offline
- 20. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited … to a Fully-Unified Customer Journey Advertising Event 3rd Party webWeb Public DMPProspects Telematics Digital / Online Physical / Offline PurchaseDealership
- 21. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited Machine Learning Predicts Who is Going to Buy a Car 22.2% 24.8% 20.8% 13.6% Human Rules Machine Learning 52.4% 39.1% 22.1% 10.5% Likely Possibly Marginally Unlikely
- 22. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited With Increases in Total Sales Conversions 1 Before 18.1% After 31.1% Sales Conversions
- 23. Confidential © 2019 Arm LimitedConfidential © 2019 Arm Limited CDPs Enable Personalized Messaging at All Stages of the Customer Journey
- 24. Confidential © 2019 Arm Limited Ushering in a New Era of Data Intelligence…Thank You! Henry Li henry.li@treasure-data.com
Editor's Notes
- Hello everyone! I’m so glad to be with you all today. London is such an amazing city. And it’s definitely an exciting time to here. I’m Henry Li. Director of Business Development at Arm Treasure Data. I’m happy to be with you all today to talk about one of the biggest trends in marketing technology. We’ll be taking a closer look today at Customer Data Platforms – or CDPs for short. And we’ll see how CDPs are helping marketers better understand the journeys of their customers.
- First a little bit about Arm Treasure Data. Treasure Data is an enterprise software company that develops CDPs. We were founded in 2011 as a small startup in Mt. View, California. We grew quickly over the years. And were eventually acquired last year by Arm. Now quick show of hands. How many of you in the audience have heard of Arm? Believe it or not, Arm is probably the most ubiquitous company you’ve never heard of. Arm is a major semiconductor design company. Arm develop microchips that are used in computers, servers, smartphones and IoT devices everywhere. In fact, 95% of the world’s smartphones uses Arm. And that includes the phone you’re holding in your hand right now! So why would a semiconductor design company like Arm buy Treasure Data? At first it might seem like an odd marriage. Well when you’re powering most of the world’s devices, you’re also collecting lots of data. And when you’re collecting so much data, you need a way to manage all of it. That’s where Treasure Data comes to play. Treasure Data has developed a platform that allows you to collect, manage and activate lots of data at scale. So why does all this matter to marketers? How does a CDP like Treasure Data help marketers better understand the customer journey? To put this into context, let’s think about how we all got to today’s event.
- So we all traveled from many different places to get here today. Many of us flew here by plane.
- Some folks got here by train.
- Some of us got here by car.
- On our way to London, we created personal journeys. We visited different places. We saw different things. We met different people.
- Now to record our personal journeys, we have to find some way to keep track of all these special moments. As you can imagine, there are countless ways to do this. Our smartphones. Social media. Store point-of-sale systems. Check-in apps Messaging apps. Just to name a few…
- All of the unique moments of our personal journey are recorded as DATA. And all this data is stored in different data silos inside different systems. A United Airlines mobile app records when you check into your flight. Square’s point-of-sale app records that slice of pizza and beer you get at the airport. You finally arrive at Heathrow Airport after a long flight in a middle seat. You take aelfie of this liberating event. And post on Facebook. You walk outside. And order an Uber. The Uber app records this moment. The Marriott Hotel app records the long awaited moment when you finally check into your hotel. You can finally relax. .
- Now imagine for a second that you’re a business. You need to track a personal journey not just of one person, but for millions of your customers. How your customers first discovered your product. How they evaluated it with other things in the market. How they finally decided to make a purchase. Think of all the different systems and databases you need to pull data from to create that customer journey. There are literally thousands of different systems and databases where all this data is stored in.
- Pulling together millions of data points from different databases and systems is no easy task. Wouldn’t it be great if there was an automated process to do this? Luckily there is. Enter the CDP. A CDP is a data technology platform. It pulls together many data fragments about a customer from different data silos that normally don’t talk to each other. It does this not just for one person, but for millions of your customers. And a CDP is powerful enough to do all this quickly and automatically.
- A big part of customer journey mapping is tying together different pieces of data that belong to the same person. As you can imagine, we don’t always appear to be the same person to everyone. We may have different names. Different aliases. Different nicknames. But we’re in fact the same person. Think of how you might be identified by the apps you use everyday. Your email address is different from your social media handle. Your social media handle is different from your wireless phone number. And your wireless phone number is different from your point-of-sale customer ID. All these systems identify you in a different way. The goal here is to unify all the different identifiers to create a ”single golden record” of the individual. CDPs help do this. They help associate different IDs to the same individual. We call this process “ID unification.”
- So you’ve collected lots of data fragments about your customers from different data silos. You’ve unified all this all together to create individual customer journey maps. You now have a more complete, 360 degree view of your customers. With all these great new insights, you can create much more complete and actionable customer segments than ever before.
- With better segments, you can create more personalized messaging for specific target groups. You might have one bucket of millennial digital trendsetters who browse your website. But for whatever reason, never buy anything. Show them a coupon at checkout. You may have another bucket of suburban families who are looking for great deals. Maybe they used to buy your product a long time ago. But for some reason, they suddenly disappeared. Get these churned customers back with a special offer. A CDP lets you activate customer segments on popular customer engagement platforms. Facebook, Instagram, Marketo jusf to name a few. You can activate on different marketing channels like social media, email, push notification, or display ads.
- And as smart savvy marketers, we know that better personalization leads to better business results – for all the great reasons we’re pretty familiar with. BETTER PERSONALIZATION makes you feel like you’re on top of the world!
- But wait. Hang on. Some of you may be wondering by now. Collecting data is an important part of customer journey mapping. But isn’t data collection a bad thing in today’s world of DATA PRIVACY REGULATION? Isn’t this considered taboo in the world of GDPR and CCPA? CCPA stands for California Consumer Privacy Act. It’s California’s own version of GDPR that will take effect in January 2020.
- First – it’s important to realize that collecting customer data plays a key part in something we often take for granted. They’re called PERSONALIZED EXPERIENCES. Think about everything you use that delivers personalized experiences. A faster and more seamless checkout experience from Amazon? Personalized playlists from Spotify? Recommended videos on YouTube? Personalized experiences affect our lives in a good way. The truth is the vast majority of customers want better personalized experiences. Now data regulation like GDPR doesn’t prohibit you from collecting and using customer data. It just asks that be more transparent and accountable about how you collect, store, and use this data. Folks who want better personalized experiences can opt-in to data collection. Folks who are indifferent to personalized experiences can opt-out of data collection. You have a choice! As long you deliver trusted personalized experiences that bring value to your customer using the data you collect, you should be okay.
- So we’ve seen how collecting and unifying data from different data silos helps marketers better understand customer journeys. How exactly does a CDP do this? A CDP does four things. From left to right First – Collect. A CDP collects data from multiple sources. The sources can be from anywhere. From data warehouses, customer engagement platforms, social media accounts, CRM systems, call centers and more. Two – Unify. A CDP unifies all the data pieces to create a single golden record of the customer. Remember the James Bond example. Three – Analyze. A CDP lets you create more complete customer segments from all the extra data you have access to. Often CDPs apply predictive scoring and machine learning to create better segments. Finally – Activate. A CDP lets you activate customer segments to external platforms and tools. You can activate your segments on social media platforms like Facebook and Instagram. On marketing automation platforms like Marketo and Mailchimp. On business intelligence systems like Tableau. A good CDP will have CONNECTORS that plug into hundreds of different platforms and tools that we use everyday.
- So let’s shift gears a bit. Let’s talk about a real life example. We’ll see how a CDP improved customer journey mapping for a major auto company. We’ll see how customer journey mapping helped this company predict who their best customers were likely to be. We’re probably all familiar with Subaru. Subaru is one of the world’s largest automakers. They are also a major customer of Arm Treasure Data.
- Now for anyone who has bought a car… We know that the buying process can be notoriously long and complex. Think about all the activities and touchpoints you went through when buying your last car. You saw a TV commercial or saw an ad on the Internet. Did customer research on what cars to buy. Visited a car dealership. Went for a test drive. You might have also dealt with auto financing and leasing. There’s obviously lots of data being collected here – both online and offline data. Online data like website visits, social media activity and email engagement. Offline data like visits to the dealer, test drives, and phone calls. The problem is that all this data is stored in separate data silos. And these data silos don’t talk to each other. How do you create a unified story about the customer journey?
- Using our CDP, Subaru was able to stitch together different fragments of data that had previously been “locked up” in different data silos. Subaru solved a big challenge for them – merging together online and offline data, merging together digital and physical data, to create a single, complete and unified customer journey map of specific customers.
- Subaru used our CDP to create unified profiles of their customers. They used these profiles to create better predictive models on who was most likely to buy their cars. With our CDP, Subaru had access a lot more data than they ever had before. With more inputs, Subaru used machine learning to make better predictions on future car buyers. By applying machine learning to unified customer journey maps -- conversion of the customer segment “likely buyers” increased to over 50%
- So what was the business outcome? Subaru saw total sales conversions nearly double across all customers in their study.
- So what have we seen today. Tying this all together. 1) CDPs allow marketers to collect and unify data across multiple data silos that don’t talk to each other. 2) CDPs help marketers create more complete maps of the customer jouney. They have a much richer understanding of who their customers are. 3) More complete customer journey maps helps marketers create better customer segments. This leads to higher sales conversions – as we saw with the Subaru example. 4) CDPs help marketers better plan the delivery of personalized messages at every stage of the customer journey. From awareness to consideration to purchase.. Without connected and unified customer profiles, you're potentially wasting a lot of dollars sending wrong messages to the wrong customers. CDPs like Arm Treasure Data are helping marketers solve a lot of key challenges they face today.
- Thanks again for joining me here today. Feel free to reach out to me with any questions!