Why every growth, marketing and product team need a CDP
In case you've not heard, Google will be deprecating cookies from chrome by the end of 2024 and if you're still not fortifying your 1st party and anonymous data right - you might just be bleeding your acquisition budget more and more in the coming days. Universal Analytics is now Google Analytics 4, tracking events and users have just gotten a tad bit more technical than it used to be. Not to mention that Google Optimize will also be out and about on September 30, 2023. With that said, there's nothing to sweat about, there's still time to shift your growth stack to something more elastic, robust and scalable - starting with the Customer Data Platform (CDP)
SO - as we move toward a more connected, digital world, companies need to develop strategies that allow them to connect with customers in new and innovative ways. Customer data platforms (CDPs) are one type of technology that can help marketers, growth and product teams do just that. CDPs are tools that help marketers understand who their customers are, how they like to engage with the business and what kind of content or services might appeal to them most. With that being said, most modern day leaders get stuck on these burning questions;
- What exactly does a customer data platform do?
- How does it differ from other types of technology for marketing automation?
- And why should your company invest in one?
In this article we'll explain all you need to know about CDPs so you can make an informed decision about whether or not investing in one is right for your business! Furthermore we're fill you in on what you need to prepare before appointing agencies or partners to help you instrument CDPs into your environment
Customer data platforms (CDPs) are a way for marketers to really see who their customers are and how they interact with the business.
Customer data platforms (CDPs) are a way for marketers to really see who their customers are and how they interact with the business. CDPs help marketers get a better view of their customer base by bringing together disparate sources of customer information into one place. This allows them to create more relevant and personalized experiences for individual customers, which can help drive sales growth through increased conversion rates and retention rates.
Here's a discovery videos from to help you understand how you can best prepare your 1st party data strategy using a CDP
A customer data platform offers universal access to customer data and first-party data, allowing marketers to create personalized experiences for each individual and drive higher engagement.
A customer data platform (CDP) offers universal access to customer data and first-party data, allowing marketers to create personalized experiences for each individual and drive higher engagement.
A CDP is a single source of truth about customers that allows you to:
- Unlock insights about your customers' behavior, preferences, and relationships across channels--both online and offline. This provides better insight into who they are so you can understand what they want from your brand or service. You can then use this information as the basis for creating relevant messages that resonate with them;
- Deliver more relevant content based on those insights by connecting all of their interactions with your brand--whether they've interacted directly with you or not--into one place where it's easy to analyze in order for you to get a complete picture of what's going on;
CDPs can help integrate customer data from different sources and make it available for analysis when needed by marketing teams, campaign managers, sales teams, finance departments and more.
A Customer Data Platform (CDP) is a technology that helps marketers unify their customer data across all channels and platforms. CDPs offer a single point of access to data from all your marketing channels, including email, web, mobile and social media. They help you manage customer data across all your channels, understand how customers interact with your business and automate processes such as campaign orchestration and optimization.
A CDP also provides comprehensive reporting so you can track performance across campaigns or plan future activities based on data from past interactions with customers
In the video below, you'll learn how you can connect multiple sources and destinations from Segment to some of your favourite tools like google analytics, amplitude and more
Here's an illustration from the team at Segment on how a B2C company can create the right audience
Marketing teams have access to a single source of truth about their customers' behaviors and preferences, which allows them to segment audiences into groups that match specific goals.
Marketing teams have access to a single source of truth about their customers' behaviors and preferences, which allows them to segment audiences into groups that match specific goals. This helps marketers create more personalized experiences for their customers, which can increase engagement and conversion rates.
For example, if you're an online retailer selling women's clothing and shoes, you might want to focus on targeting female shoppers in your marketing campaigns--but how can you do this when each person shops differently?
A CDP will allow you to identify the best audience for each campaign based on past purchases or browsing behavior; then, when someone clicks through from one of those ads (or anywhere else), they'll see products related specifically to what they've been looking at before.
Here's an example of how you can synthesize and activate data into your marketing campaigns with Segment
For example, if you want to send promotional emails to people who live outside your local area but visit often enough that they're qualified as "low-hurdle" buyers, CDPs would allow you to segment based on these criteria.
For example, if you want to send promotional emails to people who live outside your local area but visit often enough that they're qualified as "low-hurdle" buyers, CDPs would allow you to segment based on these criteria. You can also use them for more complex campaigns with multiple steps or phases that require coordination between different departments within your organization.
CDPs give marketers the ability to automate processes and streamline workflows while ensuring all aspects of a campaign are working in unison and toward shared goals.
With more accurate customer profiles, marketers can make more informed decisions about what they want their campaigns to achieve - whether that means increasing lifetime value or reaching out at the right time with a great deal on your product or service.
With more accurate customer profiles, marketers can make more informed decisions about what they want their campaigns to achieve -- whether that means increasing lifetime value or reaching out at the right time with a great deal on your product or service. With CDPs, marketers can:
- Create and manage multiple personas across all channels and devices
- Build a single view of each customer across all data sources by linking them together in one place (including social media) so you're never working in silos again
- Automate both personalization for each persona and messaging for each persona
CDPs help marketers get a better view of their customer base by bringing together disparate sources of customer information into one place where it can be analyzed and used for marketing campaigns.
CDPs help marketers get a better view of their customer base by bringing together disparate sources of customer information into one place where it can be analyzed and used for marketing campaigns.
CDPs are a way for marketers to really see who their customers are and how they interact with the business.
Creating the right First party data strategy with CDP can be complicated, we'd recommend to work with the right strategic partner like Devhaus to instrument the right CDP in your growth stack
The right CDP implementation strategy can be complicated, we'd recommend to work with the right strategic partner like Devhaus to instrument the right CDP in your growth stack.
Devhaus is a leading provider of customer data platform solutions that help brands drive revenue by putting insights into action through automation and orchestration of marketing campaigns. The company's customers include some of Fortune 500 companies, who trust us with their most valuable asset - their customers' data. Our CDP solution helps marketers maximize the value of first party data while minimizing operational risk and costs by integrating seamlessly into existing environments without any code changes needed.
If you're new to the whole concept of a CDP, watch the demo discovery video by our Solution Architect to help you understand better
For Companies operating in Singapore, there are a couple of government subsidies that you could look into to help finance and subsidise your next strategy project - yes, including instrumenting CDP in your ecosystem
If you're a company operating in Singapore, there are a couple of government subsidies that you could look into to help finance and subsidise your next strategy project - yes, including instrumenting CDP in your ecosystem.
The Singapore government has a lot of incentives and subsidies for companies to grow.
We'd strongly advise you to look through the various grants available for Singapore companies to explore to help you get your project subsidised.
If you'd like to explore all the available grants, feel free to visit our Singapore grants navigator here
Action steps moving forward
We hope this article has given you a better understanding of customer data platforms and why they're so important to marketers. If you're looking for more information on how CDPs can help your business, feel free to contact us today!
- Fill us in on your interest via this form
- Check your email for our booking slot with our beloved sales team
- Walkthrough a discovery session with us and align your desire outcome for your transformation project with us <3
Looking forward to catching up with you soon!
