Lemnisk introduces new features for their customer data platform
Lemnisk, yesterday announced that it has added new capabilities to its customer data platform (CDP). The new additions include probabilistic user data stitching across Adtech and Martech and social data sources, AI-based product recommendations, support for retail and ecommerce verticals as well as deeper app personalization capabilities.
Lemnisk’s new features along with the company’s proprietary AI engine, Ramanujan, will help marketers orchestrate single user journeys, improve the user experience, and scale customer acquisition.
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“Our goal in 2020 is to effectively use our platform in tackling COVID-19 and the post pandemic digital imperative for our clients. With an AI-powered CDPOpens a new window as the bedrock, real-time marketing automation can transcend to a whole new level for marketers. Lemnisk’s tightly integrated and organic customer data platform can be a single tool that can effectively play the role of a first party DMP, Marketing Automation and Multi-Channel Personalization combined. This can bring significant simplification and cost efficiencies for marketers in the current environment,†Subra Krishnan, CEO, Lemnisk.
The company also said that earlier this year, it expanded its product support for verticals outside banking, insurance, and financial services. It now serves a diversified user base comprising brands in the retail, e-commerce, and travel and hospitality segments.
CDP 2.0: Preparing for a Post-Covid Customer Experience
Over the past few months, marketers and Martech vendors have been busy realigning their priorities to match changing consumer behaviors and expectations. Customer journeys and satisfaction metrics are undergoing a transition amid sluggish demand and an environment of cautious consumption.
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As customer experienceOpens a new window (CX) leaders look to position themselves at the forefront of long-term shifts expected over the next few years, CDPs and customer data become particularly valuable in deciphering customer preferences and changing behaviors.
In response to changing CX priorities, CDP providers have adapted their offerings to a post-Covid reality.
Over the next few months, we expect trends in CX to center around customer service, digital service delivery, and capability building . The common thread between the three trends is customer data analytics.
Here’s where CDPs will play a central role.
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Cutting through an increasingly noisy online world and establishing human connections will be the winning formula for forward-looking brands. A few CDP vendors have dubbed the ideal marketing response to the evolving customer preferences as TAPE – targeted, agile, personalized, and engaging.
To this end, CDP vendors have been modifying their offerings to make them more human, more-marketer friendly with enhanced data accuracy. As businesses reopen and marketers get back to work, many organizations will need to reassess their Martech stack and make more strategic technology investments to keep up with the changing world.