A 101 On Customer Data Platform (CDP) For Your Business

These days, data is as good as gold. Customer data is the skeleton of any successful business. Companies are producing loads of data through their websites, mobile apps, social media interactions, email campaigns, and even CRM. However, managing this scattered data effectively can be quite a challenge. That is where Customer Data Platforms (CDPs) come in.

What Is A CDP Platform?

A CDP platform is a software system designed to gather, unify, and manage customer data from various sources. It is considered the central hub of customer information unified into a single unified profile. The platform will take in a customer’s demographics, purchase history, website behaviour, and app interactions, among other things.

CDPs vs. CRMs: Understanding the Difference

While both CDPs and CRMs are important to customer management, they have different concepts in their application. CRMs are all about managing the relationship with customers and their interaction with the company. They record sales opportunities, communication history, and support interactions. On the contrary, a CDP’s core priority is to ensure a 360-degree view of the customer experience and journey, thereby enabling unified customer data throughout all touchpoints.

Top 10 CDP Platforms To Consider In 2024

The CDP market remains in constant motion, with new players entering the race every other day. Here is a look at 10 of the most popular CDP platforms for the year 2024:

• Adobe Experience Platform: An all-inclusive suite that offers solid CDP capabilities, along with marketing automation and analytics tools.
• Salesforce Customer 360: Integrates well with other Salesforce products; hence, it’s a unified customer experience across the Salesforce ecosystem.
• Oracle Unity Customer Data Platform: Advanced data management combined with very strong integrations into other Oracle solutions. 
• Segment: A customer data infrastructure platform that enables easy integration of data into various marketing and analytics tools. 
• Tealium AudienceStream: It is a nonintrusive, highly scalable CDP solution with a very wide approach to data governance and compliance. 
• mParticle: Specialises in mobile app data and has a robust enterprise CDP solution that can grant access to critical information for companies with a strong mobile presence.
• Ensighten: A cloud-based CDP platform known for its user-friendly interface and advanced segmentation capabilities. 
• BlueConic: Offers a robust CDP solution with a focus on personalisation and customer journey orchestration. 
• Lytics: Provides a comprehensive CDP platform with built-in analytics and marketing automation features. 
• RudderStack: An open-source CDP platform offering a high degree of customisation and flexibility. 

Benefits Of A CDP Platform

Now that you know what the CDP platform is, let’s delve deeper into some key benefits: 

• Gaining a 360-degree view of your customers: A unified customer profile can help you understand your customers in great depth and predict their needs and preferences.
• Precise data analysis capabilities: CDPs offer a wide range of data analysis capabilities that will let you find emerging trends, segment your audience in the best possible ways, and measure the effectiveness of a marketing campaign.
• Deliver outstanding customer experiences: Gaining a complete understanding of your customers will drive personalization of interactions, recommend targeted offerings, and present a far more seamless customer experience.
• Smarter marketing: CDPs iron out your marketing processes because it removes data silos, ensuring that all teams have the same view of customer data. This alone should make your marketing a lot more focused and targeted.
• Driving sales and profitability: A better understanding of your customers and enabling effective marketing would ultimately translate to better sales and profitability for the business.

The Future Is Customer-Centric

Today, in the competitive environment, businesses reap various benefits by being able to use customer data effectively. A Customer Data Platform (CDP) is indeed a powerful tool – grunt empowerment for businesses to unify their knowledge of customers, deliver amazing experiences, and drive growth. Businesses would wish to be ahead of the curve, meet evolving expectations, and create long-term success once a CDP platform is in place.

Looking For Help With Your CDP Implementation?

Primal is an award-winning digital agency in Bangkok, Thailand that can help implement a CDP platform in whatever way best suits your needs. By bringing together expertise in customer data management and marketing automation, they will be there to assist in unleashing the full power of your customer data to realise your business objectives.

Contact us today to learn more about how we can help supercharge your business.