Consumer Data Platform (CDP)
What is a Customer Data Platform?
A Customer Data Platform, or CDP, is a marketer-managed system that unifies a company’s data from marketing and other channels that is accessible to other systems. A CDP is much more than a customer database. It’s a consumer data management system built to empower marketers with a unified customer profile data to improve the accessibility, usability and timeliness of their customer data. CDPs solve three major data challenges facing marketers:
- Disparate Data: Today marketers use a wide range of different tools to engage customers. The result is a variety of different systems, each with its own unique way of storing data. CDPs allow marketers to stitch those siloed systems together into one unified data set.
- Unified Customer View: CDPs utilize a consistent identifier that links all of a customer’s data across all marketing platforms – allowing for complete customer data integration.
- Accessibility: Too often marketers have to ask “permission” from other organizational groups to access their customer data. CDPs are entirely marketer-managed, allowing them to easily access and activate their data.
8 Key Benefits of Customer Data Platforms
The PrizeLogic Engage Consumer Data Platform (CDP) can be used as a company’s consumer data management system or as a more effective contributor and activator of a brand’s existing CDP. In either case, the Engage CDP provides significant advantages:
- Single View of the Customer: A 360-degree comprehensive view of the customer across all programs, devices and channels providing a better understanding of consumers and their behavior. This holistic view empowers companies with the insight and ability to manage their consumer engagement across programs and across brands.
- Personalization: By gathering first-party customer data across a variety of platforms and sources, CDPs enable marketers to achieve personalization at scale by providing more meaningful insight, effective segmentation and accurate targeting resulting in stronger customer interactions.
- Real-Time Access: No more bureaucratic data bottlenecks. Engage CDP enables PrizeLogic as well as our agency and client partners to instantly access and understand data to better inform marketing strategies, optimize program performance and facilitate stronger customer service.
- Fraud Prevention: Rather than viewing fraud on an individual program basis, Engage CDP leverages the aggregated insight across thousands of PrizeLogic programs. This enables enhanced fraud scoring by individual participants, ISPs, product types and client.
- CCPA & GDPR Compliance: A unified, singular consumer view allows brands to quickly and efficiently meet all CCPA and GDPR obligations. To fulfill these obligations across multiple, disparate data silos would be impossible.
- Marketing Optimization: The holistic insight afforded by the Engage CDP empowers marketers to reduce marketing costs, better understand program efficacy, build more effective lookalike models and more.
- Greater Flexibility & Agility: Our flexible technology stack adapts and integrates the ever-changing consumer behavior and evolving technology trends. As a data hub, new data sources and platforms can be connected as they are introduced and used to power better consumer experiences.
- Permissible Data Classification, Access and Use: All data is tagged for ownership, privacy, compliances and use. Clients can configure data rights based on a variety of dimensions such as role, account, brand, department (customer service, analytics, etc.), vendor (advertising agency, fulfillment partner, etc.) and individual user.