Customer Data Platforms

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A stark dichotomy exists in marketing today: customers crave deep personalization akin to what tech giants like Netflix and Amazon provide, yet they are wary of sharing the personal data necessary for such experiences. Companies have constructed complex stacks of marketing and advertising technology to achieve the elusive "right person, right message, right time" approach, only to find themselves mired in disconnected systems and legacy issues. Enter Customer Data Platforms (CDPs), which promise a straightforward solution to capture, unify, activate, and analyze customer data. With over 100 companies in this rapidly growing category, CDPs are a hot topic in marketing circles. But do they live up to the hype? This exploration delves into the essentials of CDPs, covering how to manage customer data effectively, define the CDP category, and understand its capabilities and limitations. It also addresses how to organize customer data for marketing, build a compliant first-party data asset, foster a customer-centric culture, leverage AI and machine learning for personalization, orchestrate responsive customer journeys, and enhance analytics for better attribution.