WHAT IS A CUSTOMER DATA PLATFORM?

Customer Data Platform CDP

There is a big difference between communication with existing and potential customers. Bringing in potential customers costs the most, but retaining existing customers is no easy task either. For example, one can use one for relevant communication with potential customers Data Management Platform DMP  Read all about DMPs on this one page. Other effective solutions are now available for retaining existing customers. In the past people often spoke about “BIG DATA” or about a “Data Warehouse” Nowadays these kinds of solutions are called a Customer Data Platform CDP.

The term Customer Data Platform CDP has not been around for very long, but is in fact a universal name for solutions that capture customer profiles. Once a customer has bought something from the company, he gets a nice place in this database. Over time, the data is “enriched” with all kinds of relevant data. This data can then be used to get to know the customer better and to approach him / her better with appropriate products and / or services.

But why are there now more than 200 different Customer Data Platform solutions available? We are happy to explain that to you.

Customer Data Platform Institute

Ecommerce Result is an independent Service Provider affiliated with the knowledge center CDP Institute.

DEFINITION

What exactly is a CDP?

A CDP is in some areas equivalent to a DMP (data management platform). Where a DMP mainly collects anonymous data, a Customer Data Platform creates a complete profile of existing individual customers. It makes use of all available resources. Website behavior as well as contact with customer service, purchase history and email conversations are brought together. The more information that can be collected, the better and above all more relevant the communication can proceed.


USE

How can a CDP add value to my sales organization?

In a Customer Data Platform all customer information is stored that is known and which can be added in the "lifecycle" of the customer. When a perfect picture of customers is created, those customers can be divided into groups (segments) with the same basic characteristics. Segments of customers can then be approached with personalized content on the website, but targeted mailings or online campaigns can also be set up based on these characteristics. If, for example, a mother buys baby clothes at the birth of the child and she indicates that it is a boy or a girl, the mother can be provided with offers that match the phase and age of the child based on advancing age. More relevant offers will increase conversions and increase customer satisfaction. And this is just a simple example. Possibilities with a well-designed CDP are endless.

Benefits of a Customer Data Platform

Customer Data Platform CDP

The benefits of a Customer Data Platform are great. Simply put, a CDP is a must for any company with a customer-focused sales strategy. The more we know about a customer, the better the communication and the more will be sold at a lower CPS (cost per sale) And if you think that a Customer Data Platform is only for online companies, we must disappoint you. Every company communicates in some way with its customers. Even if you only speak to customers by telephone, a CDP can be a very welcome addition, because the person on the phone has all the information of that one customer directly on the screen, for example linked to the telephone number. This saves time and gives the caller a very good and professional feeling from her supplier. Once the Customer Data Platform has been set up, you will enter into a dialogue with your customer and your turnover will increase.

Curious how a CDP can also strengthen your sales and marketing?

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