What are Customer Database Platforms(CDP) and their features?

In today’s competitive market, customers expectations have reached a whole different level. They want to engage with a business multiple platforms and expect the interactions to be starting off where it was left the last time.

Customers are tired of having random interactions with businesses. This leads them in a constant lookout for brands that understand their needs, concerns and challenges. They love to bring their business to companies that care.

To ensure this, businesses use multiple tools to collect customer’s data so that the interactions are contextual and up to date. However, the most frequent challenge they face is due to multiple tools so the customer’s data fails to get consolidated.

One of the fairly upcoming solutions to these challenges is the customer database platform (CDP). In this article we’re going to be discussing this software and what it can do for your business.

What is the Customer Data Platform (CDP)?

A Customer Data Platform (CDP) is a product framework that helps present a centralised, diligent and refreshed perspective on an individual customer, in light of data from co-operations of numerous channels, platforms, and gadgets. 

CDPs additionally let data stream to and fro between different customer data frameworks to execute communications and oversee customer engagement.  The data it consolidates can be easily customised that enables businesses to implement any marketing strategy they want.

Key Features of CDP

1) Integrations

It’s crucial while exploring which CDP is best for your group and your organization to look at what incorporations each CDP gives. You need to guarantee your whole showcasing stack will have the option to incorporate with the CDP you pick so you can have one focal database for the entirety of your customer data.

2) Reporting and customized dashboards

CDPs can accompany strong revealing usefulness just as tweaked dashboards. Most CDPs offer some sort of essential announcing capacities, however, some additionally incorporate increasingly refined reports and the capacity to auto-generate reports. Its advanced dashboards will permit you to choose what data is generally essential to you and your business.

3) Cross-channel automation 

While this may seem like an advertising computerization highlight, and it is, CDPs improve this ability by fusing unsiloed data. Customary promoting computerization programming can execute cross-channel mechanization, however, they can’t utilize data from a solitary customer profile that is automatically rolling in from numerous sources.

CDP Benefits

• Data privacy is becoming crucial for companies

With the emergence of the GDPR, the CCPA, and other data security laws, ensuring your customer data is critical. Infringement to any data security laws can prompt monstrous fines, lost buyer trust, and a sharp drop in stock worth.

• Unified data source

When you have a centralised database at your fingertips, customer communication becomes highly personalised. It also provides keen insights for your marketing campaign.

• Real-time coordination

You can monitor team activities from the dashboard and easily make sure that each & every member is on the same page with the organisational directives.

Conclusion:

CDP’s implementation into your business might seem complicated at first but it has huge benefits. These customer database platforms come in a variety of models so it is important for you to choose the right on for your business.

In case you need more information on CDP with regards to your business, please feel free to contact us. We’ll be happy to help you out