A Customer Data Platform (CDP) is the answer to the woes of all financial marketers who want to make the best use of their customer data and leverage them for marketing and lead conversion purposes. As per CDP Institute, “A Customer Data Platform is packaged software that creates a persistent, unified customer database that is accessible to other systems“. Here are 7 use cases where CDPs can be used to enhance customer engagement and increase lead conversions by Financial Services marketers.

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Customer Data Platform Use Cases for
Financial Services Marketers

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1. Collection of data in its original form
Frequent modifications on the original source data makes it
difficult for marketers to pre-determine the use of data for
their marketing strategies
This Data can be transformed, unified, and re-
formatted by marketers to use in marketing programs
and for analysis
This Data can be transformed, unified, and re-formatted by
marketers to use in marketing programs and for analysis

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A CDP unifies the data captured from different
sources into a single view for each customer
It brings together data from sources such as
first-party behavioral data, second-party partner
data, third-party audience persona data, and any
other customer data touch points
Unified profiles will provide a 360-degree view of
of each customer and help marketers in
segmented targeting for customer engagements
2. Creating customer one view

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3. Cross-device data coordination
User interactions with different devices are
captured by the CDP
Unified customer view is formulated to create a
unique journey for each user
Personalized messages and offers are sent to
preferred devices of each user based on their
individual journeys

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Users are targeted with personalized messages based on their online activities
and behavioral data
4. Real-time personalization

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Here is an example how a user is shown a personalized message in real-time

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5. Leverage AI for channel marketing
A CDP can leverage Artificial Intelligence
algorithms and can pull historical
information about the user’s buying intent
Financial marketers can create marketing
campaigns based on a user’s interest by
calculating the next best offer on products

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AI can also enable
marketers to send push
notifications, emails or
SMS to users who have
never made any purchases
from the website

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One of the biggest challenges faced by Financial Services marketers is to
set up a systematic utilization of their vast database across different
systems. A Customer Data Platform (CDP) is the answer to the woes of all
financial marketers who want to make the best use of their customer data
and leverage them for marketing and lead conversion purposes.

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