Customer Data Platforms or CDPs give Experience Makers a single, central source of data with that value exchange built in.
According to Mark, a CDP has the potential to elevate a customer relationship to empathy-based, rather than sales-based. So, for example, when a customer lands in the support area of your owned site, you can see immediately see that and understand where that customer is in the lifecycle, responding accordingly.
Wunderman Thompson Data has recently published a paper on the CDP landscape for those looking for advice. Course Correction acknowledges that many businesses are now evolving when it comes to investment in data technology. The first generation of adopters are now looking for a more sophisticated solution that recognises that the insights generated by data need to be employed on several different channels: websites, media, CRM and direct mail, to name a few.
The 2nd generation of CDP sits in the middle of your customer business and provides the hooks or the glue between every customer touchpoint, allowing marketers to resolve the identity of that customer in a way that gets better over time.
However, Alex issues a health warning, “you can’t technology yourself interesting”. A CDP is a very sophisticated piece of kit but it's not a substitute for knowing your customers. Organisations still need to think very carefully about how they will have a meaningful conversation with a customer when they recognise and know them.