CDPs for future-proof customer-centricity
So, how do Customer Data Platforms (CDP) assist firms in striking that balance and taking the necessary steps to achieve it?
CDPs are a relatively recent yet important component of the IT stack. They help you prioritize your client data so you can get the most out of your marketing investments, make your business future-proof and comply with privacy and compliance rules. Customer Data Platforms collect and consolidate data from a variety of sources to develop complete customer (anonymous and known) profiles. These profiles will include all data collected at various touchpoints during the customer experience. That way these unified profiles provide a 360° perspective of a customer while being compliant with current data privacy standards.
CDPs, unlike CRMs, are designed to scale data ingestion. With built-in machine-learning automation they can unify data, connect a single customer profile across devices, cookies, channels, and ad networks, and enable real-time analysis and activation of that data through omnichannel campaign execution. Because they are in charge of centralizing and analyzing all consumer data formerly maintained in siloed systems, such as advertisement networks, e-mail solutions, applications, websites, ... A CDP enhances the functionality of systems like CRMs, DMPs, and Marketing Hubs.
From there, it’s up to marketers to determine how, when and where to best reach their customers.