Last year, we had an enriching webinar with David Raab, Founder of CDP Institute, where he spoke about the role of a Customer Data Platform (CDP) in increasing the online market share of businesses. With CDP becoming quite popular in 2018, David's thought-leadership session is even more relevant than before.
Here are 5 specific sections from the masterclass that you may find very valuable.
1. What is a CDP?
The term "CDP" has been creating waves in the world of data-driven marketing in the past two years. It's been widely used for managing customer data from a variety of sources. This video showcases David's take on the meaning of a CDP.
2. Functions of a CDP
The main function of a CDP as explained by David is to link the identities of people across various channels such as email, SMS, mobile etc and then use this unified data for delivery and decisions. What are the other functions? Watch the following video to find out.
3. CDP vs Other Systems
In this video, David explains how a CDP is different from other systems such as DMP (Data Management Platform), Data Warehouse, Marketing cloud, marketing automation software, etc.
4. CDP - Decision and Delivery System Integration
Following the above comparison, the next video emphasizes on how delivery and decision systems are becoming an integral part of CDP systems. Extending the context, later in the video, David also talks about how Lemnisk (Formerly Vizury) is one of the early pioneers that has identified this feature and is offering it through AI and omnichannel hyper-personalization.
5. The Right Time to Implement a CDP
A question that marketers often ask is when is the right time to implement a CDP and David addresses this for us in this video where he refers to CDP as the best solution for a marketer's digital system.
6. CDP's Role in Growing Markets
David shares his thoughts on the future of the marketing industry and why a CDP is going to play a crucial role in data-driven marketing.
To know more about finding the right CDP for your business, check out the following whitepaper by David Raab: