What is Customer Data Platform (CDP)?
Customer Data Platform (CDP) is the software that collects and organizes customer data from various touchpoints. It is used by other software, systems, and marketing efforts. CDPs gather and organize real-time data to create individual, centralized customer profiles.
CDP is a packaged software that develops a persistent and unified customer database accessible to other systems,” according to the CDP Institute, a vendor-neutral organization dedicated to assisting marketers in managing customer data.
Customer Data Platforms create customer profiles by combining information from various first, second, and third-party sources. Customer relationship management, transactional systems, web forms, email and social media activity, and website and e-commerce behavioral data, are all included.
What are the business benefits of Customer Data Platform (CDP)?
CDPs are primarily concerned with gathering first-party data via pixels and other tracking tools. CDP always reflects the most up-to-date audience information.
It can take valuable time and energy to communicate, share, and educate each other on the data used for and collected from these efforts, and CDPs come in handy to manage all these things simultaneously.
CDPs help your organization, improve customer relationships, and supplement your existing software and marketing efforts.