In this technology-driven world where data is considered as the oil for market and company mechanism, technology is advancing towards more customer-centric solutions. Data is and will be considered the driving force whether it’s from an offline or online source, segmented according to the channels or available in a different environment. Now companies are inclined towards personalization of customer data which will result in better marketing approaches towards prospective customers and to tend current customers in the best possible method.
We already had Customer Relationship Management (CRM) and Data Management Platform (DMP) for the purpose of engaging customer data and the newest entrant in this field is the Customer Data Platform (CDP). As both CRM and CDP start with the customer, there is a bit confusion between the two as CDP was regarded as an extension of CRM. As the market evolved with the usage of CDP, the confusion between CRM and CDP has been cleared. We are going to be more elaborative on CDP in this blog as this is the new tool which is considered as the latest fad in mark tech.Continue reading