CDPs role in businesses

The vitality of Customer Data Platforms

What does this Customer Data Platform(CDP) mean?

Customer Data Platform (CDP) is basically a sort of software package. It creates a persistent and unified customer database that is attainable to other systems. How? It collects data from multiple sources and filters and combines them to create a single customer profile. Then the outcome; the structured data makes available to other marketing systems. However, CDP mainly plays a major role in B2B businesses.

Why are CDPs important for a business,  both in B2Bs and B2Cs?

Customer Data Platforms have become one of the trendiest and predominant terms in business. In fact, according to the CDP Institute, 34% of business-to-business (B2B) companies and 19% of business-to-customer (B2C) companies have already deployed CDP to their systems. Hence, it is important as it provides dozens of benefits to its consumer. Mainly;
  • It connects to first-party data;
    • Customer relationship management software (In B2B)
    • Marketing automation (In B2B)
    • Email service providers (In B2B)
    • Transactional data like E-commerce systems (In B2C)
  • It connects to third party data;
    • Web visits
    • Ad impressions
    • Firmographic data
    • Demographic data
      How CDPs become major terms in B2Bs

      Role of CPD in businesses

CDPs and their role in B2B

CDP becomes a vital tool in the following areas of B2B companies;

  • Mapping customer journeys
  • Personalizing communications
  • Preventing chum
  • Creating upsell and cross-sell opportunities
In order to be a success in these areas, CDP should play its effective role mainly in five ways;

Should have the ability to map leads to buying groups, accounts, and hierarchies

B2B is likely selling to individuals in buying centers and accounts that exist in account hierarchies. Hence, CDP should connect those individuals to the place of B2Bs in a buying group or any account hierarchy.

Should create a deep integration with the sales channel

In order to generate income, vendors need to be able to work the leads and recommendations sent to them from their marketing teams effectively. Hence the integration with sales tools must have a system to adopt data rather than simple data sharing. Thus, CDPs should access the same information leveraged by the marketing team accurately.

Should have an open and flexible AI

As marketers, B2Bs crave agility through Artificial Intelligence(AI). Because it provides the capability of flexible sifting and automation that is required to create the right segment. As a result, it prioritizes the target audience. Therefore they need the ability to create models for different types of predictions. Thus, CDP should import and leverage those models properly, even if there is a team of professional data scientists to create them.

Should have a third-party integration

Marketers use many third-party data sources like firmographics and tech install data for segmentation and targeting. Thus, CDP should pre-integrate these data to reduce the outlay needed to manage multiple third-party data contracts. 

Should maintain platform independence

A majority of B2B marketers tend to have a complete Martech stack. So, it is critical that sellers are not exclusively glued to one platform or marketing/sales cloud. Thus, CDP should behave flexibly and functionally across the technologies of marketers. Therefore, most importantly, CDPs should integrate with the systems that B2B organizations use every day and should work with B2B teams effectively. Through that CDPs could be able to become the possible ideal fit to that particular B2B company.  
Last modified: