When people ask, “What is CDP?” the literal answer is, “Customer Data Platform” but that really doesn’t convey much on what CDP can do for a business. The definition of CDP is too narrow to properly explain everything about the system and what it does, if it is working to its fullest potential. The platform is enough user-friendly to expand and grow as the customer data changes and grows.
- More than a data management system
CDP in the broader sense encompasses not only customer data management itself but how customer data is handled and so on. The most important elements of a CDP program are that they can help a business to achieve desired success. The range of Customer data platform varies from those that provide simple customer tracking and live chat capabilities to the more complex data solutions that can integrate all of the customer data that an enterprise has on the client’s present, past and future in a dynamic network of data.
- Pull down all data
Pulling down all important data from various platforms is a much stressful task for a business and it is a matter of time too. Custom Data Platform can pull down data from social media, email links, CRM etc. In this way, the system sorts out all the data in one place and make them easily accessible for all the marketers and business executives. This is a unified data hub that can help businesses to combine transactional and behavior customer data in a single system. You will get easy access over 1st, 2nd and 3rd party customer data.
- Youngest data platform
There are three types of data platforms that are most popular and accepted by the businesses for data management. CDM is the most up to date and youngest among the three. CDP is more advanced and based on the real-time view of the customers. It can enrich the third-party data that comes from different systems of the organization. As this is a new system, most of the marketers are unaware of the benefits that one can get from the platform.
- Different from CRM
CDP is quite different from the other popular data management system, CRM. CDP is a unique system that creates the most convenient customer database including the detailed behavioral and historical data. It can add the information of app sessions, web visits and even the affinity of the content and integrate them to set better marketing policies of a business.
CRM is the customer relation management system that is based on your relationship with each of the customer and stores all data of your service providers, suppliers and potential customers. From the HR department to the accounts executives, this can be used by all. Custom data platform is designed to set an innovative and unique marketing strategy of a business but CRM is designed to keep track of the customer’s interactions and sales.
- Machine intelligent
CDP keeps the track of customers with their personal information and uses the smart mechanical memory to communicate and associate with the customers. It comes with the machine intelligence feature to track the buying process and behavior of each customer. This is more convenient to target a particular audience and the right tool for internet marketing.
Custom Data Platform has become the necessity of every business to grow their customer base and make their business a major player in the market.