What is a CDP?
The Customer Data Platform (CDP), also known as the “single source of truth”, is a software solution built for marketers (read: no database or data science skills required) whose primary purpose is to unify, integrate, and manage all of your customer data – user profiles, activities, preferences, transactions, interactions, online or physical visits, and so much more – with a view towards creating a Single-User-Profile.
For example, connecting the CDP to your POS system provides information regarding a customer’s transactions. Connecting to the eCommerce or web presence can provide a wealth of customer detail such as items viewed, visits, cart actions, favorite departments or items, etc. Integrating survey responses or chats will help round out the “personality” and communication style or preferences for your customer through active and voluntary participation. Integrating in-store movement via beacons or WiFi browsing while shopping provides an even greater level of granularity.
More specifically, the Customer Data Platform performs 4 key functions:
Typically stored in a cloud environment though some customers choose to maintain the data internally or owned servers.
Includes all data cleansing and de-duping.
Segmentation and Micro-Segmenting
Includes all required analytics, reporting and tracking.
Integrates with existing marketing technology for the implementation of engagement programs and marketing campaigns. Includes all required analytics, reporting and tracking.
A customer’s profile is not static. It changes and evolves as the customer engages with your brand – informing better decisions.
By building, evolving , and leveraging the power of the Single-User-Profile (SUP), marketers can engage their customers in a way that tailors each customer’s journey in any channel – Online, In-App, or In-Store.
The result is not only a consistent customer experience that resonates with your customer and builds greater brand loyalty, but, more importantly, each and every engagement allows you to continue to build the SUP and deliver smarter, even more personalized, customer experiences.