The benefits of CDP is vast in present-day conditions. There are over 7000 marketing technology applications currently and most of them are software as a service (SaaS) applications (e.g. CRM, Email Marketing platforms, Website Analytics, Survey Tools, E-Commerce platforms like Shopify and so on.) in addition to your internal IT tools and systems. The problem is your customer data get siloed in these applications and you can’t do analytics with API calls between them. But with a CDP – Customer Data Platform, you can easily manage and process customer data.
The basic definition of a Customer Data Platform (CDP) is a Software as a Service (SaaS) product with a web user interface that collects data from any source, resolve identities (e.g. Joseph Smith v. Joe Smith) and creates a unified view of your customers, then allows you to segment customers (e.g. Loyal customers v. transactional) and help you market intelligently instead of marketing with incomplete customer data from one or a few sources.
1. Marketers – The CDP is a single platform that helps marketers segment, manage and operationalize customer data into any channels or application (e.g. web / triggered email for cross-sell).
2. Data Engineers and Scientists – Use CDP as a single source of truth and reduce the amount of custom work. Unified data is the foundation of data science.
3. Analysts – Single platform to get access to all customer data to create reports and dashboards in tools like Power BI, Excel, Tableau, Domo etc.
4. Privacy & Legal Departments – Single platform to manage and audit consumer privacy (opt-in and opt-outs), customer data access requests (info, delete) and manage consolidated customer records to avoid fines and penalties from laws like GDPR and CCPA.
The benefits of CDP is limitless to the entities that look forward to excel in the present and future. There is no choice in staying away from a Customer Data Platform software if you are planning to gain the CDP benefits.
As with any technology platform selection, certain vendors will be a better fit based on your business needs to get the maximum benefits of CDP, depending on their strengths. To maximize the CDP benefits, tally your requirement with our SkyPoint CDP and make a trial run with out experts’ help.
Please contact us using the form on the right and we’ll help you evaluate (risk free trial and proof of concepts options applicable) if SkyPoint Customer Data Platform (CDP) is the right one for your business.
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