What is a Customer Data Platform (CDP)?

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2 yıl önce

What do you know about Customer Data Platforms (CDP)? Do you know what a Customer Data Platform (CDP) is, what it does, and how it works?

In this Falnik article, we introduce you to a new concept, the Customer Data Platform (CDP). What do you think is the difference between a Customer Data platform (CDP) and CRM? What does Customer Data Platform (CDP) design software do?

As you know, CRM software is one of the most important and efficient tools about customers. With the help of this software, you can collect information and data about your business and establish appropriate interactions about customer feedback.

What is a Customer Data Platform (CDP)?
How does the Customer Data Platform (CDP) collect customer data?
What is the difference between a Customer Data Platform (CDP) and CRM?

What is a Customer Data Platform (CDP)?

Suppose you want to buy a laptop at this fluctuating price of digital devices. You will most likely go through the following steps in this regard:

You search on Google.
You read a few different sites about the latest laptops.
You get information from several people who are skilled in this field.
You can watch some videos to learn about the technical capabilities of the laptop.
After comparing several models, you choose a device.

In all these steps, you may interact several times with the company that you end up buying from, such as via online chat, email, etc.

Every interaction with the company creates a personal experience for you that makes you feel better about the company. You may even feel the small changes in the company’s website and search for what you want more personally and easily, Or feel that emails are sent to you automatically, more personally.

How do you think the company has done these things? In response, we must say that there is a strong possibility that the company has used the Customer Data Platform (CDP) to make its marketing suitable for you.

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A customer data platform (CDP) is a piece of software that combines data from several different tools; customer information that includes all contact points and interactions with the customer’s desired product or service is centralized in one database.

CDPs analyze customer behavior deeply from all data and integrated archives. A good customer data platform (CDP) has two characteristics:

It syncs with your current data.
It is possible to evaluate the data stored in it.

The customer data platform (CDP) collects all the information from the company’s website, email, where,ever a person has interacted with the company and can be used in other departments.

How does the Customer Data Platform (CDP) collect customer data?

The Customer Data Platform (CDP) requires four categories of information to collect data, which are:

Identity data

Identity data allows businesses to identify each customer uniquely. This information includes the following:

Personal information such as name and surname
Demographic information such as gender and age.
Location information such as an address, city, and zip code
Contact information such as mobile phone, email
Social information such as a LinkedIn address, Instagram, etc.
Professional information such as job and…
Account information such as user ID and account number

Identity data includes basic customer information.

Descriptive data

This data gives you more information than identity data and gives you a complete picture of the customer. Descriptive data categories differ by company type.

A customer data platform (CDP) is a piece of software that combines data from several different tools

Quantitative or behavioral data

Quantitative or behavioral data includes information that describes how the customer has interacted with the organization. This data includes the following:

Transaction information, such as the number and type of goods purchased or returned
Number of baskets purchased and their date
Email communication information such as the time the email was opened, the number of email clicks, and responses
Online activity information such as the time of visiting the website, clicking on the website, etc.
Customer service information such as contact dates, request details, etc.

Qualitative data

Qualitative data refers to data that collects all attitudes, and opinions expressed by customers regarding a business. This data may be related to one company or collected from several companies in connection with a business.

Qualitative data are as follows:

What is the reason for buying this product?
What made you prefer this product over others?
How do you rate the product?
How do you rate our customer service?
How likely are you to recommend us to others?

In the list of qualitative data, attitudinal questions such as favorite color, favorite food, etc., are given.

What is the difference between a Customer Data Platform (CDP) and CRM?

A few major differences between a Customer Data Platform (CDP) and a CRM are:

CDP collects anonymous visitor information. While CRM only reports on known and potential customers.
CDP examines customer behavior and journey throughout the life cycle. While CRM first pays attention to the sales funnel and then the sales forecast.
Customer Data Platform (CDP) design software can track offline and online customer data. While CRM checks the online data,, you can manually enter the offline information.
CDP uses a large number of resources to manage multiple data points. As a result, there is a very little duplicate or overlooked data. At the same time, CRM collects the entered data separately.

The most important benefit of a customer data platform (CDP) is that it gives you a 360-degree view of the customer.

In this article, we tried to introduce you to the concept of a Customer Data Platform (CDP) and the difference between a Customer Data Platform (CDP) and CRM.

But if you want to manage customer information best, Microsoft Dynamics CRM software is suitable for you. Every year, this software is recognized as one of the best CRM software in the world, and it can integrate and connect with different software such as Word, Excel, Loot Lok, etc.

Getting to know CRM types

Depending on the type of business, industry, and companies’ use of CRM, different models of CRM have been released to the market. This diversity in CRM has been created to increase profitability and choose the right software according to your needs. Currently, the types of CRM can be divided into operational, analytical, and collaborative. We will get to know more about these things.

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Operational CRM or OPERATIONAL

Operational CRM focuses on managing your customer relationships. In this regard, it manages the functions of the sales, marketing, and after-sales service units. In each of these areas, he has duties that can be briefly mentioned below.

Sales automation

To manage your sales automation, operational CRM performs the following actions.

Manage leads
Manage accounts
Executive Management
Management of announced prices
Forecast sales
Manage customer contacts
Follow up with customers
…

Marketing

With the help of these features, you can automate many processes in the field of marketing. As a result, it increase the sales and profits of the organization. To manage marketing processes, the following actions can be performed by operational CRM.

Manage campaigns

This section determines the communication channels of the campaigns (call, site, environmental advertising, social network, email, etc.). Then according to the channel and audience, the budget is allocated, and the campaign is designed or analyzed.

event marketing

Service Automation

With the help of service automation, the organization’s experts and managers can reach the company’s specified targets. Because with the help of this automation, you can perform service processes and communication with customers and answer their questions in the best possible way.

Event marketing helps sales professionals identify new opportunities.

ANALYTICAL CRM

In Analytical CRM, the focus is on gathering information and analyzing it. This data can be received from different channels and used to make decisions for different departments or to determine different KPIs to increase engagement, sales, and customer retention rates.

The most important data reviewed in Analytical CRM is sales, marketing, and financial data. With the help of this data, you can analyze and evaluate various things such as products’ purchase and sale history, competing brands, customer payments history, how they pay, the response rate of customers to campaigns, etc.

One of the advantages of crm on the web is that you can access it anywhere with any device and you no longer need to pay a separate fee for the server.

With the help of ANALYTICAL CRM, you can do the following more easily:

Market according to the needs and characteristics of users.
You can present the right persona of your audience and buyers.
With the help of data mining techniques of this CRM, you can properly design the customer journey and divide the audience into different groups and plan for them separately.
The sales and marketing team of the organization can focus on the obtained information and analysis. In this case, they can achieve the highest profitability with the least resources.

If analysis and evaluation are the first words in your work, it is better to use analytical CRM.

Collaborative CRM

With the help of collaborative or interactive CRM, employees of different units can share the obtained information. In this case, there is no need for different departments to analyze duplicate data. This work should be done to increase profit, customer service quality, and customer satisfaction and loyalty.

If your company has different units and their information must be shared, you should use collaborative or interactive CRM. But if your organizational units should not have access to customer information of different organizational units, you should not use this CRM model.

Among the advantages of using collaborative or interactive CRM, the following can be mentioned:

Reduce costs
Increase income
Maintaining the company’s relationship with customers.
…

If you want customer information to be available in different units of the organization, you can use Collaborative CRM.

What type of CRM is right for my company?

Now that we are familiar with the types of CRM, we should be able to identify and purchase the CRM that can meet the needs of our organization. To be able to buy the best CRM for your company, you must have a correct understanding of the needs of the personnel, the organization, and the existing concerns and routines of the organization. Then choose one according to them.

Of course, some CRM software available in the market has all these features to meet all your needs. Microsoft CRM is one of them. With the help of this software, you can access all the facilities of operational CRM, analytical CRM, or collaborative CRM.

Also, if you are not familiar with the organization’s needs or cannot organize the sales procedures, you can get help from our experts.

One of the steps of purchasing CRM software in Falnik is to prepare an RFP (list of company requirements). In this case, you can identify CRM and related modules according to the list of requirements.