What are Customer Data Platforms? (CDP)
Customer Data Platforms, or CDPs as they are more widely known, unify fragmented data sources in one place breaking down data silos. Data sources may include CRM, mobile, transactional, website, email and third-party data.
A Customer Data Platform consolidates, integrates and stitches together data from different sources to form a ‘single source of truth’ for all customer data, within a platform environment designed to maintain the highest levels of security, data integrity in full compliance with GDPR and data regulation.
Uniting fragmented and siloed data silos within a customer data platform protects customer data as it is housed within a client owned and operated CDP. This ensures customer data is protected and reduces the risk of data leaks while allowing clients to undertake analysis essential for deriving customer insights that allow them to improve and enhance customer experience.
An investment in the right CDPs can future proof your data infrastructure, modelling and analytics capabilities. Customer data platforms should have the capacity to plug into marketing automation and performance tools, ensuring that insights are actionable. Integrations with visualization and reporting tools connect the insights with existing business dashboards and marketing technologies enabling marketers to make more informed decisions.
Consolidating their data into a CDP has enabled Direct Line Group to save approximately 500 days of analyst time per year.
Reducing Customer Acquisition Costs
Fospha’s customer data platform uses the power of AI and machine learning to help marketers generate insights that reduce customer acquisition costs.
- Break down data silos to unify data for analysis and MTA and MMM modelling
- Connect data insights with the people and technologies that matter to that business
- Create a multi-channel view of marketing performance and a single customer view through data stitching using people and cookie based matching.
- Create audience clusters for marketing personalisation
- Analyze customer behavior, industry trends, and rapidly changing markets, incorporating data from external sources.
Our data experts bring your channel data together into your CDP applying multi-touch attribution modelling, powered by our smart AI to provide an accurate view of the marketing activities generating ROI.
If you want to learn about how a customer data platform’s and marketing attribution drive increased ROI, then get in touch at firstname.lastname@example.org to find out more.