Guide to transparency - your Customer Data Platform also becomes the class leader
The Customer Data Platform, or CDP for short, is a relatively new concept for consolidating all existing marketing data. The goal is a highly personalized customer approach based on a reliable database.
Although still quite new, CDP has already found its way quite clearly into the marketing departments of the companies. In the current Uniserv trend study on customer data management, a good half of the participants stated that they already knew the term. And of those who already know the CDP, 55 percent are already in conception, research or have a CDP in use. That is pleasing and also well so, because it is clear that the CDP will redeem for marketing what the CRM had originally promised, but could never redeem in the Enterprise range.
But despite all the euphoria, strategic farsightedness is definitely called for. Customer Data Platform is not the same as Customer Data Platform. In total, three different categories of CDPs can be distinguished: Data CDP, Analytics and Engagement CDP. The Uniserv cooperation partner b.telligent has illustrated this very clearly in its article "Customer Data Platforms - a Classification".
In this respect, it is well advised to consider the individual thoughts of those who make a decision in advance, especially with regard to their company-specific use cases. And especially when it comes to business partner data, in which the combination of data from several data sources as well as data cleansing and standardization set the tone, the Data CDP first mentioned at the beginning, as also offered by Uniserv, is the method of choice. And the trend study Customer Data Management by Uniserv proves once again that there is a need for action here. After all, 62 percent of the respondents stated or admitted that they were not satisfied with the performance and efficiency of their customer data management.
A Data CDP can successfully remedy this situation. In this context, the Data CDP can be seen as analogous to a customer database because it provides data consolidation, data aggregation, identity matching and data persistence within the CDP with standard connectors. The solution should provide some functions for diagnosis or backup and for monitoring the data quality; in this way, a high data quality within the CDP can already be ensured during the integration of the data. Alternatively, certain things such as a golden record, the consolidation of customer data from different sources, or even persistent data storage in a dedicated upstream data or customer hub can be created.
This once again makes it very clear that when selecting the right CDP it is essential to pay attention to the individual categories of Customer Data Platforms, in the precise context of your own individual Use Cases. „One size fits all" therefore does not apply here. The motto should rather be "Think big, decide and act focused". In this sense - please contact us.