{"id":21209,"date":"2023-07-07T08:48:40","date_gmt":"2023-07-07T08:48:40","guid":{"rendered":"https:\/\/www.xploregroup.be\/cdp\/"},"modified":"2023-07-07T08:48:40","modified_gmt":"2023-07-07T08:48:40","slug":"cdp","status":"publish","type":"post","link":"https:\/\/www.xploregroup.be\/es\/cdp\/","title":{"rendered":"What you need to know about Customer Data Platforms"},"content":{"rendered":"\t\t
A CDP is a cloud-hosted platform that can help improve your marketing processes with several different functionalities. Four of the key functionalities:<\/p>
By centralising all customer information to create a 360\u00b0 view of your client, you can use that data to create target audiences for activated marketing campaigns, customer journeys, advertisements, etc. This data can include behavioural data (eg. visits and clicks), profile data, transactions, etc.<\/p>
The concept of a 360\u00b0 customer view has been around for a while, but its importance has grown with the integration of advanced predictive analysis through machine learning models. Capturing data begins with the very first anonymous visit, which is then enriched through identity stitching techniques that merge identical users. This process allows you to have a complete view of each customer.<\/p>
By bringing this rich and diverse data together, you gain the ability to create highly specific target audiences. This means you can now customise your marketing efforts to reach the right customers, improving their experiences across various channels. The impact: increased campaign effectiveness, optimised customer journeys, and reduced overall ad spending.<\/p><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Currently there are more than 200 CDP solution vendors and up to 20% of European companies are using a CDP. Why is it booming as much?<\/p><\/div>
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Well, for multiple reasons.<\/p>
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CDP’s are simplifying GDPR and privacy compliancy, which is a huge selling point.
Furthermore, the fact that you have access to ‘near) real-time data to segment is a big perk. This allows you to create dynamic always-on campaigns which adds or removes members from the target audience as you go.\u00a0<\/p>
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Example: <\/em>Say a client has just bought your product. That means that in the near future, you don\u2019t have to target them anymore with ads for that specific product. So, you remove them from your segment. Therefore, your client isn\u2019t frustrated by all the needless ads and emails, and you can save some serious money. Instead of trying to reach people randomly, you can now target people more specifically. Once the product is nearing its warranty limit, for example, you can add the customer again to target them with ads for a new, updated version of the product.<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t It has been announced that Chrome will stop allowing third-party cookies by 2025, so companies need to start looking for alternatives. A customer Data Platform is a great solution: you only work with first-party cookies and data.\u00a0<\/p> Searching for an additional tool that will allow you to get even more first-party data in your CDP? Look into the data clean room: a platform where you use anonymised and encrypted first-party data that other companies have made available (so ultimately becoming second-party data). This way you collect data, but in a privacy compliant way.\u00a0<\/p> \u00a0<\/p> To sum<\/strong> up<\/strong>, CDP has lots of possibilities and advantages. It’s future proof, contributes to efficient marketing and creates great customer journeys. However, it can come at a bigger cost so you need to think about it well.<\/p> Our competence center Stitch’d<\/a><\/span> can help you decide whether it’s the right path for you or not. They do not install CDP’s but will be your strategic and advisory partner.<\/p> \u00a0<\/p> \u00a0<\/p>Goodbye third-party cookies<\/b>\u00a0<\/span><\/h2>