Customer data platforms (CDPs) help execute marketing functions by creating persistent and unified consumer database from various sources.
CDPs are proving to be valuable assets for marketers according to Treasure Data’s report, as brands scramble to connect with consumers amid COVID-19. CDPs can source consumer data from both online and offline sources, hence allowing marketers to build personas, personalise consumer journeys and connect with prospects.
However, there remain gaps between CDP’s capabilities and how brands use them. With less than half of brands incorporating product usage, third-party, social media data, app and cookie info, CDPs are underutilised.
Further, since CDPs are minimally impacting offline and in-store sales currently, as per the report, B2B businesses should leverage CDP solutions to resolve this. The article shares that as CDPs grow in popularity, new CDP updates will help marketers better integrate data and connect with consumers.
[5 minute read]