What is it?
A customer data platform (CDP) is a kind of database software that unifies all of your customers’ data. A good CDP should easily integrate with the data you already have, and any marketing automation tools you use. Once you implement a CDP, you can easily retrieve all of your customer data to inform your marketing decisions and personalize all customer touchpoints. If disconnected customer data is a problem for your business, a CDP is the solution.
Why do you need it?
A customer data platform centralizes customer data from all sources and is accessible to other systems. It goes beyond simply collecting data, a CDP analyzes this complex data and provides a holistic view of every customer based on data from each stage in the buyer’s journey. From this holistic view, it will give recommendations on how to best interact with your customers.
If you can’t meet your customers’ needs in today’s competitive environment, that’s a problem. When customers feel like you don’t care about them, they won’t stick around. This is why it is crucial to have accessible and insightful customer data. When you have the right data, creating meaningful customer experiences is a breeze.
What are the Benefits?
Your company will see significant benefits from using a CDP. One benefit is helping your organization avoid data silos. When your data is unified and organized, it is accessible by everyone in your organization. If your company has several marketing efforts happening simultaneously it can be a hassle to communicate and share data between teams. This is where CDPs can help. CDPs simplify marketing efforts by providing consolidated, accurate data. They also collect and organize new data that may inspire other marketing projects.
CDPs can improve your privacy and data protection. Many data privacy laws are going into effect like the California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR). You need to make sure you are complying with these laws and respecting your consumers’ privacy. CDPs can help you do this by limiting the data you collect based on relevance. It also helps you manage your data in a way that complies with either the CCPA or GDPR depending on where your business is and where your customers live.
Your customers belong at the center of everything you do. Customer data platforms help you put customers front and center. They provide accurate data in a timely and organized way. This improves your marketing efforts and creates meaningful, engaging interactions with your customers. If you don’t already, consider taking your marketing to the next level with a CDP.