CDP

CDP (Customer Data Platform) is a type of software that aggregates and organises customer data from various sources into a single database. This centralised repository allows companies to gain a holistic view of their customers, enabling them to implement more personalised and effective marketing strategies.

CDP and CRM

While both CDP and CRM (customer relationship management systems) deal with customer data, they differ in a number of criteria.

Data collection. CDPs collect data from a variety of sources, including websites, applications, and third-party systems. CRMs tend to focus on sales-related interactions.

Purpose. CDPs are designed primarily for marketing, providing a 360-degree view of the customer. CRMs are sales-focused and allow you to track customer interactions as well as track sales.

Data storage. CDPs store data for a longer period of time, allowing for long-term analyses. CRMs often have shorter data retention periods, focusing on current sales cycles.

The power of federated data

Personalisation of marketing campaigns. By understanding customer behaviour and preferences, companies can tailor their marketing efforts more effectively.

Improved customer experience. With a single view of the customer, companies can provide consistent and personalised interactions across all touchpoints.

Increased business revenue. Personalised marketing often leads to higher conversion rates, which directly impacts the bottom line.

CDP implementation

Data Integration. The first step is to integrate various data sources into the CDP. This can be website analytics, mobile app data, POS systems, etc.

Data cleansing. Make sure the data is accurate and free of duplicates and errors.

Segmentation. Organise data into meaningful segments such as demographics, customer behaviour or interaction history.