If you’re like most people in the business world, you’ve probably been hearing a lot lately about customer data platforms (CDPs). With this much hype, it can be difficult to differentiate between key functionalities that you need for your business and the exciting buzzwords that attract attention but don’t add much business value. So where should you start?
What’s a Customer Data Platform (CDP)
Let’s start with the basics. CDPs have found an important place in the modern data ecosystems because they centralize customer first party data from across your various customer touchpoints. They’re focused on providing a full 360-degree view of your customer so that you can engage with them in the right ways.
Simply put, a CDP does the following:
- Aggregates all your customer first party data from various sources
- Integrates the data to tell a singular customer journey
- Enriches the story by creating meaningful classifications and potentially
importing external sources
- Allows you to operationalize what you know about your customers in meaningful and
highly monetizable ways while providing true digital experience optimization
What CDP Functionality Should I Focus On?
There are some key things to focus on when evaluating the capabilities of CDP technology to ensure that it fits the needs of your business:
- Aggregation – an efficient and secure pipeline to import your data into a centralized system
- Integration – identifying like users across your various data streams through customer stitching
- Enrichment – classification and segmentation of your customers to drive relevancy and engagement
- Operationalizing – leveraging connectors with your content management system to personalize assets and target customers