Across sectors, Customer Data Platform (CDP) has emerged as the ultimate solution for personalized customer experience. According to a report by Forrester, 35% of surveyed companies are planning to invest in CDP in the next 12 months—for many good reasons. The most obvious one is to build a unified profile of customers across all channels (to which 83% of respondents in the report agreed). Two-third of them also appreciated CDP’s ability to personalize experience for both known and unknown customers.
Whether you want to centralize customer data from all channels into one source, to make every bit of data accessible company-wide, or track customer interactions across channels in real-time, CDP can help.
Still, due to the variety of data solutions out there, the term is sometimes mistaken for Customer Relationship Management (CRM) or Data Management Platform (DMP). Before purchasing one, you should understand what CDP is (and what it’s not), as well as how CDP can support your business.