What does CDP refer to?

1. What is CDP (Customer Data Platform)

CDP (Customer Data Platform) refers to a public ****data platform that collects and integrates customer data across platforms.CDP collects real-time data and builds it into a single, centralized customer profile.

CDPs exist because both customer data and marketing operations are indispensable. So what exactly is customer data?

2. What is customer data

There are four main types of customer data.

Identity data:

Identity data includes basic information such as name, age, and gender, and it's this information that allows organizations to quickly identify each customer.

Descriptive data:

Descriptive data includes information such as occupation, hobbies, and other information that expands on the identity data and allows a company to get a more complete picture of its customers. Different types of companies collect different types of descriptive data, for example, diaper companies focus on collecting information about their customers' families.

Quantitative or Behavioral Data:

Quantitative data, which includes information such as transactions, emails, etc., allows companies to understand how customers interact. Businesses can customize their marketing based on customers' spending preferences to maximize marketing effectiveness.

Qualitative data:

Qualitative data includes information such as opinions, attitudes, and other information that can give personality to customer data. Organizations can also collect qualitative data to change their marketing strategies and explore a more customer-friendly marketing model.Alt: Customer Data

So what's the difference between CDP and CRM?

CDP vs. CRM

CDP collects data from anonymous visitors, but CRM only reports on known customers or prospects.

CDP automatically tracks online and offline customer data, but CRM requires manual input to get offline data. This means it's more convenient for CDP to access the data.

CDP is able to handle multiple data points from a large number of sources, which means there is little chance of data loss, but CRM collects individually entered data, so there is a greater chance of data loss.

Thus, CDP can make marketing easier.

Advantages of CDP

CDP avoids data silos:

A data silo is a set of raw data that can be accessed by a single department, but that department is isolated from other departments, resulting in a lack of data flow and less collaboration within the organization, slowing down the pace of progress and can affect the accuracy of customer profile data, while CDP does this by unifying the organization's customer data to enable all employees within the enterprise to access the data.

Everyone in a company needs access to customer data in some form. Marketing teams need customer data for attribution and analytics. Sales teams need customer data to close deals faster. Finance and operations teams need customer data to understand payment and purchasing behavior.CDP (Customer Data Platform) is a key part of the infrastructure that allows for the actual collection and use of customer data in a structured way across all companies.

CDP collects first-hand data:

Thousands of pieces of data are generated every day, so how can we quickly and accurately screen the data we need? The answer is CDP, which ensures accuracy by collecting first-hand data - directly from customers, such as website visitors, social media followers or subscribers.

CDP helps companies understand their customers:

Customer-centric marketing requires companies to understand their customers, and CDP helps companies build customer profiles, identity maps, and behavioral analytics to accurately and efficiently manage customer relationships and markets.

CDP Unifies Cross-Channel Marketing Efforts:

Most organizations have multiple marketing efforts going on at the same time, and it can take a lot of time and effort for employees to select the right data to communicate across departments. marketing efforts by providing integrated and accurate data to unify multi-channel and cross-channel marketing efforts and improve employee productivity.

The collection and analysis of customer data plays a critical role in marketing decisions, and CDP is one of the most effective tools for collecting and analyzing this information.