CDP CRM- In the present time, as most companies are in various stages of digital transformation one of the most prominent aspects of this large company-wide transformations is particularly focused on improving customer experience or CX by personalizing their experience with the brand, irrespective of the type of interactions or channels they use.
Therefore, while both CRM (Customer Relationship Management) software and CDP (Customer Data Platform) tools store customer-related data and have overlap, we can think about an easy to use CRM as the execution arm of a CDP system which primarily acts as a data collector and thereafter acts as an enabler of “downstream execution” of that data, for marketing, sales, customer support and other departments in an organization.
Hence when CDP systems are integrated with easy to use business growth tools like a CRM or any other customer-facing systems, for storing and capturing information about customers such as their location, age, as well as data pertaining to customer events such as clicks, purchases or page views it can be used for advanced customer segmentation and modeling.
Hence when used rightly a CDP can act as the businesses’ entire technology stack for marketing, and help brands to arrange and coordinate customer data and thereby optimize the customer experience.
Nevertheless, as much like cloud-based easy to use CRM, the CDP market is also growing rapidly, however, CDP systems can be confusing for buyers, since just like a CRM, it is necessary to have a pragmatic expectation of budget and time that is required for a successful implementation, and thereafter rollout and subsequent ongoing support of a CDP tool, beyond just license costs.
Hence here are five key categories for evaluating this framework before integrating it with a customer-facing CRM tool.
There are five major categories for evaluation in this framework:
1. The product
2. The use cases
3. The deployment timeline
4. The platform architecture
5. The vendor corporate profile
Robustness and strength
• The ability to provide solutions in the environment of choice like private/public cloud, enterprise-owned on-premise, vendor controlled, and hybrid options
• The ability to handle a very high volume of data sources and complex data-sets from multiple vendors
• The maturity to integrate with enterprise sophistication/capabilities