Customer Data Platform vs. Data Warehouse: what’s the difference?

Customer Data Platform series: 3 of 5

Over the next 5 weeks, read a new blog each week from our CDP Series as our CMO helps you to understand the CDP landscape, capabilities and functionality.

It is easy to confuse a Data Warehouse with a CDP. At the peak of the Data Warehouse hype, they were seen as the answer to enterprise businesses' prayers - a place to store every scrap of Big Data, so that it could be analyzed as a whole to bring about efficiencies and spot patterns that might help to improve performance. But what made Data Warehouses exactly right for this job, and are CDPs better suited to the needs of modern marketing teams?

Topics: data warehouse Customer Data Platform

How CDPs can drive cross-channel, real-time marketing opportunities for retailers

According to Gartner, “Access to customer data, in real-time, unifying profiles across channels and ability to measure comprise the competitive playing field that will define the coming years,” allowing retailers to effectively personalize cross-channel customer journeys.

A Customer Data Platform, or CDP, helps by bringing in huge amounts of online and offline customer data from a multitude of sources, then cleansing, deduplicating and unifying this information into a Single Customer View that can then be accessed by all other marketing channels, platforms and business intelligence tools.

To then unify these profiles across channels, look for a CDP with ‘orchestration’ or campaign management capabilities, which will function as a ‘smart hub’ to orchestrate and trigger all your channels from a central decision-making point.

Topics: predictive analytics retail personalization Customer Data Platform data unification cdp

DMP vs. CDP- what's the difference and which is right for your business?

Customer Data Platform Series: 2 of 5

Over the next 5 weeks, read a new blog each week from our CDP Series as our CMO helps you to understand the CDP landscape, capabilities and functionality.dmp-1

A question that we often get asked is whether Data Management Platforms (DMP) and Customer Data Platforms (CDPs) are interchangeable?

More specifically, can a DMP be used to deliver the same results as a CDP, and if not, why not?

Topics: Customer Data Platform data unification marketing database cdp

What’s the Difference Between a CDP and a CRM (and why should you care)?

Customer Data Platform Series: 1 of 5

Over the next 5 weeks, read a new blog each week from our CDP Series as our CMO helps you to understand the CDP landscape, capabilities and functionality.

Gartner's 2018 Marketing Technology Survey suggests that 52% of enterprise marketers have already fully deployed a Customer Data Platform (CDP), while 26% are in the process of deploying one and a further 12% plan to do so within two years. That means 90% of the respondents are invested in CDPs, a very high proportion of the market considering the technology has only come to the forefront in the past three or four years.
 
However, dig deeper into the research and you find that 51% of the self-proclaimed CDP-equipped organizations said that their CDP was their Customer Relationship Management (CRM) system, with 11% of these naming Salesforce as their CDP. It's worth noting that in November 2018, when the survey was issued, Salesforce was vehemently against the idea of a CDP, and that even today the provider is still in the process of developing one.

Topics: BlueVenn Marketing customer data customer experience Customer Data Platform marketing data 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

Customer Loyalty: What Is It & How Do You Improve It?

Gone are the days when a customer used to be loyal to a brand by default. The abundance of choice in today’s world, the increased competition from digital disruptors like Amazon and eBay, and the accessibility of reviews and third party recommendations all make building a customer loyalty strategy more difficult than ever.

Topics: Customer Data Platform customer retention customer loyalty

How a Customer Data Platform Optimizes Omnichannel Marketing

Our customers are taking increasingly complex journeys consisting of multiple online and offline touch-points. They interact with brands through any channel or device they wish (email, web, social, mobile app, direct mail, call center or in-store), and therefore its a strategic imperative that marketers are able to utilize data from all these channels and execute campaigns in an omnichannel way.

Without the ability to capture and act-on the available data points it creates disjointed and impersonal experiences that can frustrate buyers and damage a potential conversion.

Topics: Marketing Customer Data Platform Multi-Channel omnichannel marketing

How a Customer Data Platform makes data marketing more efficient

A long-standing problem that marketers experience time and again is their lack of access to quality, usable data. This inability to utilize data at the time when it’s needed means that it's difficult to communicate the right message to the right customer at the right moment. And with your data spread over multiple silos, it’s an overwhelming challenge for marketers to wade through different pools of data to find the information they need.

So how does a Customer Data Platform (CDP) solve these problems?

Topics: Article Customer Data Platform