Unlike the name Customer Data Platform suggests, it is not “just” about customer data
Marketing data is the lifeblood of modern marketing and marketers are hungry to work in a more data-driven way. This explains how a relatively new type of MarTech, the CDP, is becoming so popular. But unlike the name Customer Data Platform suggests, it is not “just” about customer data.
The recent Data Culture Report from Lexer finds that only a fraction of brands feel they are capitalizing on the full potential of their data. Some 80% of companies are investing in specific customer data projects to fill that gap. High performers show it is important to do more in-house and have better access to data and insights.
A Customer Data Platform lets you bring together and centralize data so you can use it for, for instance, analytics and real-time…
A Customer Data Platform looks to fulfil that age-old promise of centralizing all the customer data, and it is looking good
Marketers know that data management is the key to data-driven marketing. Traditional methods for trying to bring customer data together into a “360 customer view”, failed to solve the complete problem. But there is a new player in town, and its called Customer Data Platform (CDP). Now it is knocking on your door. Should you let it in?
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Bringing together customer data in a CDP
An un-siloed and full view of the customer is not a new concept. Yet the 360 customer view has always turned out to be the just out of reach for the marketer. Custom MarTech integration projects are known to be an especially…
How to select the right data management platform and audience profiling tools for your business
A Data Management Platform (DMP) is a place to store, sort and act upon multiple sources of online and offline data including search, social, display media, Email, CRM, Transactions (e.g. Point-of-sale). This includes first party data which the marketer collects on their site or through other customer interactions and on third party data pre-integrated into the platform, or data purchased from branded providers or lists. They also look to integrate desktop and mobile usage to provide a ‘single view of the prospect and customer’. As such they are also now commonly called Customer Data Platforms (CDPs) and Identity Management Platforms (IDMP). Users of a DMP can import known (i.e. an email address) or unknown (e.g. a cookie) data and use this to define audiences or segments. The DMP will then find new customers (i.e. similar audiences)…
Crawl, walk, run: three steps to establishing an effective DMP
As digital marketers we're all too aware of the importance of data. For example, the typical fortune 1000 company that sees a 10% increase in data accessibility generates $65 million in additional revenue, whilst bad or poor quality data costs organisations as much as 10-20% in revenue.
Although Big Data is no longer a new area of interest for marketers, the constant change in trends and focus mean that we must always stay up to date, if not one step ahead, of the trends to ensure we hold a competitive advantage. Just consider the sheer complexity of data-related terms:
I recently attended a data-driven marketing event run by the Omnicom Group which gave me the opportunity to look at some of the insights and trends from those working at the…