WHAT IS A CUSTOMER DATA PLATFORM (CDP)?
Basically it’s a system that centralizes customer data from all sources, unifies this data into customer profiles and then makes this data available to other systems for marketing campaigns, customer service and all customer experience initiatives.
First-Party Data Collection and Ownership
A customer data platform is driven by first party, real-time data owned by the brand across the digital and offline ecosystem.
A Single Source of Truth
A CDP delivers a single source of truth about customers to guide marketing actions and generate revenue. The CDP collects and integrates data from digital channels, as well as offline systems, such as CRM, call center and point-of-sale activity. In doing so, it becomes a force multiplier with data to optimize key marketing applications and platforms, including personalization, attribution, analytics, advertising technology, and more.
Real-Time Action and Decision-Making
Marketers and advertisers need to track customers as they click through digital channels, visit stores, make calls to call centers and otherwise engage brands. There is no substitute for the ability to make decisions – and ultimately drive action – to engage with customers across this ecosystem in real time.
Personalization at Scale is the Key to Data Differentiation
Customers’ rising expectation of hyperpersonalization is driven by the customer experience they receive from the Data Giants that increasingly shape our world. A CDP can help differentiate your business by giving shape and meaning to the data you collect.