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CUSTOMER DATA PLATFORMS

The complete guide to CDPs and their key use cases to unify your customer data, create omnichannel customer experiences and drive digital growth

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CDP INTRO

Increasing amounts of customer data flow into your company from an ever-growing number of (digital) channels, but you’re still unable to collect, analyze, and use all this data to improve, both the experience of your customers and the efficiency and effectiveness of your marketing expenditure. CDPs solved one of the biggest limitations to truly omnichannel and personalized experiences: siloed data, that productively prevented marketers from using it. This has made the Customer Data Platform market is expected to grow from nearly 2 billion EUR in 2020 to 8,5 EUR billion in 2025.

WHY CARE ABOUT CUSTOMER DATA IN YOUR ORGANIZATION

Customers expect organizations to provide them with a satisfactory customer experience, and they are willing to pay more for such experience, 80% of consumers say that customer experience is just as important as the products or services a company offers.

In order to provide a satisfactory customer experience, you need to get to know your customers first: their needs, challenges and preferences. This is only possible through customer data collection, analysis and activation.

Being able to handle and act upon this data has shown to be key to the growth of top organizations, as compared to similar competitors in their markets. 

Research tells us that organizations that leverage customer behavioural insights outperform peers by 85% in sales growth and more than 25% in gross margin. (McKinsey)

However, leaders and organizations struggle to collect, organize or use this customer data for several reasons: 

  • Data is scattered and siloed across the many different disconnected solutions used by the teams.
  • The data is being collected but cannot be processed properly so no insights are drawn from it.
  • Data is collected and analyzed but the organization is not set up or ready to act upon them.
  • Data is kept by certain teams within the organization so not everyone can access it and learn from it.
  • The customer data collected cannot be activated through all channels because is not kept in a central repository.
  • Customer data is kept in IT-managed solutions in a status that is not ready to use by the (non-technical) marketing team.

Discover in this page why CDPs have become for many marketers an essential tool in their ongoing efforts to get to better know and serve their customers, improve the results of marketing initiatives and have an impact on the growth of the bottom-line of the organization.

WHAT'S A CDP

Customer Data Platforms are managed systems that facilitate a unified, persistent and agile database of customers that provides a single view across many different viewpoints. A customer data platform functions as a marketing system that unifies a company’s customer data from marketing and other channels, to enable customer modelling and optimize the timing and targeting of messages and offers (Gartner).

CDP graph
Source: Exponea

Read more about what's a CDP ➔

THE KEY FEATURES  OF A CDP

For a Martech tool to be categorized as a CDP it needs to provide, at least, the key capabilities and features below:

Read more about the features of a CDP ➔

CDP vs CRM and DMP

The types of solutions in the Martech landscape continue to grow, and sometimes they may seem to have overlapping features or capabilities. This makes it much harder for marketers to find the right solution for their needs, or figure out how these systems can work together. This holds true for CDPs, DMPs, and CRMs alike. They all help digital marketers work with customer data, but are very different at the same time. And more specifically, it’s the difference in the way these solutions collect data, and the exclusive features they offer, that’s essential to identify.

Read more on the comparison of CDP, CRM & DMP ➔

USE CASES OF A CDP

Increasing amounts of customer data flow into your company, from an ever-growing number of digital channels, but you’re still unable to collect, analyze, and use all this data effectively to improve the experience of your customers and the efficiency and effectiveness of your marketing expenditure. Does this sound familiar? 

According to Gartner’s 2019 Multichannel Marketing Survey, 58% of the respondents indicated leveraging integrated customer data was a significant or moderate challenge. This is where customer data platforms come into play: the go-to solution to collect, unify, analyze, and activate customer data in a single centralized platform.

As mentioned above, a CDP's main purpose is to unify all the customer data generated, but there are many use cases that a CDP solution also enables. Below you can find more information on the most relevant ones:

CDP use case

UNIFY YOUR CUSTOMER DATA

CDPs serve as a single, centralized solution to unify all your customer data coming from all sources, including online, offline and creates a 360-degree view profile of each of your customers. 

Read more on CDP for data unification ➔

CDP use case

ENABLE EXPERIENCE PERSONALIZATION

Learn how CDP works to enable in-depth customer segmentation and personalized omnichannel experiences that increase CLV and reduce marketing spend.

Read more on CDP for personalization ➔

CDP use case

ENABLE OMNICHANNEL MARKETING AUTOMATION

A CDP solution enables an efficiently orchestrate and automate marketing tactics and campaigns across all your channels including offline, online, mail & advertising.

Read more on CDP for marketing automation ➔

CDP use case

E-COMMERCE EXPERIENCE PERSONALIZATION

Some CDP solutions offer automated conversion optimization capabilities or can personalized product recommendations through predictive models, enabling your to improve your E-commerce results.

Read more on CDP for E-commerce optimization ➔

CDP use case

FUTURE-PROOF AND CONNECT YOUR MARTECH STACK 

CDP is the key solution to unify, integrate and get more potential from your Martech stack's scattered customer data to get deeper insights and eliminate the data silos preventing you from taking the next steps in digital.

Read more on CDP for a future-proof Martech stack ➔

OUR CDP AND EXPERIENCE PARTNERS

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OUR CDP AND DIGITAL MARKETING SERVICES

More than 30 years of experience in E-commerce and digital we know how to create a successful strategy for your organization. With an in-depth assessment based on several key criteria points and of your organization's maturity, we will be able to create a data-driven and customer-driven strategy to grow your business through digital marketing and implement the Martech to help you reach your goals, such as CDP or marketing automation tools.

We have helped companies like these with their digital challenges:

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CDP Services

We help you implement your CDP solution and create a strategy to get the most value out of your customer data. 

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Digital Marketing Strategy

We help you establish a digital marketing strategy that impacts the bottom-line of your organization. 

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Marketing Automation Services

We help you with your marketing automation strategy, technology and campaign execution.

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ASK OUR CDP EXPERTS DIRECTLY

USE THE FORM BELOW, OR SEND A MESSAGE TO ELLEN AT ELBEX@SQLI.COM

202002_Osudio_ALL_website_contact_person_310x205_Ellen
Ellen Bex,
Head of Customer Engagement

Delivering superior digital marketing strategy and marketing solutions.
 

OUR CASES

We have helped companies like Carlsberg, Miele, Sligro or Hansgrohe overcome their E-commerce challenges and thrive as businesses.

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DIGITAL MARKETING SERVICES

We design and create engaging products and digital experiences that lead to conversion by providing true customer value and positively impacting your organizations' bottom line.

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OUR INSIGHTS

Stay in the know with our contenet selection of articles covering many topics and being updated on a regular basis.

 

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