The concept of Customer Data Platform (CDP) has picked up traction over the past year and increasingly there are more companies looking to CDP to help them run more relevant marketing campaigns using the large volume of customer data they have.
So what exactly is a CDP?
Visualization on how a CDP works
Gartner defines CDP as an integrated customer database managed by marketers that unifies a company’s customer data from online and offline channels to enable modeling and drive customer experience.
How CDP Can Help Marketers
1. Single Customer View
Unifying data from both online and offline sources into a single profile, creating a comprehensive and persistent view of customers not previously available to marketers.
2. Digital Ad Effectiveness
Reduce ad waste via enabling intelligent frequency capping, detailed attribution, suppression and optimal media mix modeling by receiving real-time visibility and ownership of every digital ad impression.
3. Real-Time Personalization
Enhancing customer experience by personalizing interactions across channels and the optimization of existing marketing technology investments.
4. Cross-Channel Analytics
Leveraging on the insights into the performance throughout the customer journey across multiple channels and devices to optimize revenue and drive loyalty over time.
Some Frequently Asked Questions:
1. How does a CDP differ from a DMP?
|Provides a central location for all customer data||Focus on ad targeting data and do not easily share that data with other martech application|
|Provides a single, comprehensive view of a customer profile||Do not deal with personally identifiable information (PII), only with anonymized audience segments|
|Manages data on a persistent, on-going basis||Oriented around executing and monitoring discrete campaigns|
|Able to validate conflicting email addresses, normalize information and map the data into an updated profile||Limited in ability to address underlying quality issues|
2. How does a CDP differ from a CRM?
|Optimized for bulk processing and extracts||Is not designed to import large volumes of data from other systems|
|Able to account for and identify both known and anonymous visitors||Only for known contacts|
|Able to link different pieces of customer/prospect info into single identities||Common for a contact to have duplicate records|
3. How can a CDP help you be GDPR-compliant?
|GDPR requirements||How can a CDP help?|
|Subject Access Requests
Ability for a person to request all data from you that you hold on them
|CDP keeps all your customer data in one place, making it easier to extract the data than to collate the data in multiple data silos|
|Consent and Audit Trail
• Data protection will need to be clearly documented
• Always record how consent to use the data was given, from who, when and how
|A CDP will be able to store a complete audit trail of marketing permission, so a single customer state of consent can be shown at any given moment in their lifecycle|
How Verticurl Can Help:
Verticurl helps companies to integrate CDP with other data source systems, identifying the data types and connection methods and storing the data in CDP.
To be able to use a CDP effectively, Verticurl can help with data cleaning, standardization, enhancement and connecting data that relates to the same entity to build a single view of the customer.
Verticurl runs analysis on CDP to draw insights for developing personas, identifying segments and developing seamless, targeted omni-channel campaigns.
Measure & Optimize
Verticurl measures results against KPIs, identify areas of improvement and continuously optimize.
Want to learn more about CDP? Contact us now!