6 Proof Points to Secure Budget for a Customer Data Platform Investment

The hardest aspect of being a marketing leader is often needing to prove the ROI of marketing initiatives.

The next is justifying a major marketing investment and providing the budget-holders with compelling evidence that gets you the sign-off to make a purchase.

A marketing technology investment, such as a Customer Data Platform purchase, is often significant and requires you to create a well thought-out business case, which often requires input of 3rd party statistics, to offer proof points in favor of the purchase.

Topics: cdp

How to Continually Optimize Data Quality using a Customer Data Platform

Poor quality data is the result of numerous errors that can progressively ruin the success of your marketing campaigns. In fact, according to IDG, poor data quality is one of the modern marketer’s biggest concerns, with 66% of those polled declaring data quality and accuracy as a “top priority”. 

Inaccurate names, addresses and contact details, along with duplicate records and decayed information, will distort your view of a customer, resulting in poor campaign results and inaccurate insights. Worse still, it creates a bad experience for your customers whereby they either miss out on a specific offer, are targeted wrongly or receive the same message multiple times.

Topics: BlueVenn Marketing customer journey customer data bad data Data Quality customer engagement data privacy customer insight data cleaning data analysis Customer Data Platform marketing data data analytics clean data marketing database cdp

Is a Customer Data Platform the Same as a Master Data Management Solution?

A question that I’ve started to get asked a lot recently is whether Master Data Management (MDM) and a Customer Data Platform (CDP) are interchangeable. More specifically, if you have a Master Data Management system in the business, can it be used to deliver the same results as a Customer Data Platform? And if not, then why is a CDP different to an MDM solution?

To answer this you really need to think about the fact that MDM is a discipline and a set of processes to transform organization-wide data. However, a CDP is a packaged software product with a specific purpose to deliver a single view of the customer from multiple data sources that marketing can use for improved personalization of marketing campaigns.

Topics: BlueVenn Marketing customer data personalization Customer Data Platform marketing data data unification marketing database cdp

Nine Key Requirements to Consider When Investing in a Customer Data Platform

In a really interesting new research piece in November from Gartner called ‘Distilling Marketer Adoption, Views and Misperceptions of Customer Data Platforms’ it showed the results from a survey to 504 marketers, whereby 51% of respondents claimed that their CDP was their CRM system.

As the report states, “this misperception of a CDP as a CRM solution reflects a lack of appreciation for the advantages that many CDPs have over heritage CRM applications. These include scale, profile unification, segmentation and connection to marketing systems.”

Topics: Single Customer View Customer Data Platform marketing database cdp