What is Customer Data Platform (CDP)user
In the fast-changing internet world, customers are bombarded constantly by businesses trying to hawk their products and services. This leads to information oversaturation and your brand’s message gets lost as customers ignore all ads. Therefore, brands have to constantly find new and creative ways to stay relevant. Most marketers are unanimous that personalization is the key to achieving this.
A Customer Data Platform (CDP) is a tool for bringing together all of this customer data into one database for marketers responsible for these personalization efforts.
The CDP provides a comprehensive view of each customer created by capturing data from multiple systems, linking and storing all customer interactions over time and by channel. Its purpose is to provide both a 360-degree view of a customer as well as a single view of the customer. A 360-degree view of a customer give insights into what they are doing and a Single Customer View (SCV) provides insights into what they are thinking.
A CDP will have two-way integrations with all the marketing operations tools. It integrates with all the customer contact tools to collect information on: what they like on their website, what content they clicked on in an email promotion, how happy they are with customer support, what they’ve purchased, and so on. A CDP also integrates with customer campaign and communication tools to personalize the communications going from the brand to the consumer.
Under the hood, a CDP is comprised of three components:
- A database, much like your CRM, store customer records,
- An analytics and algorithm engine that builds high-quality unified customer profiles,
- And an API layer for processing batch and streaming data to keep profiles up-to-date and accurate.
If you’re curious about CDP and want to know more about it we are just a ping away.