Ashley Kasma

Sales Development Representative

CDP and CRM tools both collect customer data and provide value to your organization. But the similarities stop there: where a CDP autonomously creates unified customer profiles with data gathered across a variety of online and offline channels, a CRM only tracks a customer’s intentional interactions with a company via manual entry.

A customer data platform is a marketing system that unifies accompany’s customer data from marketing and other channels to enable customer modeling and optimize the timing and targeting of messages to offer 1:1 personalized engagement.

CDP must-have capabilities:
▪ A central feature of CDPs is the ability to ingest first-party, individual-level customer data from multiple sources in real time, without storage limitations
▪ Data is stored as long as it is needed for processing. CDP data collection must include first-party identifiers such as emails or device IDs and attributes such as demographic information
▪ Offerings have evolved from a variety of mature markets, including multichannel campaign management, tag management, and data integration
▪ CDPs need the ability to send segments to specific tools for execution of email campaigns, mobile messaging, advertising, and other campaign or channel activity. CDPs may include activation features such as next-best recommendations, dynamic creative optimization, and testing and self-optimization capabilities

Here are a few key differences between a CDP and a CRM.

  1. CDPs collect data on anonymous visitors, whereas CRMs only report on known customers or potential customers.
  2. CDPs analyze lifetime customer behavior and customer journeys, whereas CRMs primarily analyze the sales pipeline and forecasting.
  3. CDPs track both online and offline customer data, whereas CRMs cannot pick up on offline data unless manually entered.
  4. CDPs are built to handle multiple data points from a large number of sources, meaning the potential for replicated or lost data is slim. On the other hand, CRMs collect individually-entered data that can get lost or mislabeled if not handled correctly.

Credit: Our partner Hubspot – https://blog.hubspot.com/service/customer-data-platform-guide

Categories:

  • Customer Data Platform
  • Digital Marketing
  • Marketing
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