Many financial services organisations struggle to use customer data effectively for marketing communications. For instance, banks hold rich seams of customer data which could support targeted digital campaigns. However less than half are delivering1. The business impact is significant since consumers are more likely to respond to relevant, personalised offers.
So, what’s behind the problem? It boils down to legacy systems, data silos, and blockers which prevent the connection of multiple sources of data, hindering the generation of actionable insights. Consumer privacy and data regulations compound the issue. The upshot is that it’s hard to leverage customer engagement opportunities presented by social media and other online channels.
This blogpost outlines how Chief Marketing Officers can overcome these issues using a Customer Data Platform (CDP) on Google Cloud.
The Benefits of a Customer Data Platform
CDPs unify disparate online and offline data sources to create a single…