The Marketing Technology is an ever evolving area, as Scott Brinker duly notes every year with his Marketing Technology Landscape visual. The past few years have seen the emergence of a new type of data management asset, Customer Data Platforms (CDP).
Experts expect CDPs to be the closest to the “audience of one” dream thanks to their user-oriented data activation, but the difference between Customer Data Platforms and Data Management Platforms is still on the table with ferocious Quora threads and a blog from the CDP Institute addressing the question very thoroughly.
The Private DMP way of life
So, where does the ShiftForward Private DMP stand on this? Well, one of the latest posts in CDP’s blog closes like this:
What Customer Data Platforms and Data Management Platforms add to marketing:
Customer Data Platform Institute
Therefore, we decided to go through that list of features with the Private DMP.
We will take those on the DMP side of the Venn diagram as a given, because we have dipped our toes into those waters before.
Now to the ones on the Customer Data Platforms’ set:
- 1st-party data collection: Let us quote ourselves on that one: “Your own customer data is, ultimately, one of your biggest advantages”. Yeah, we’ve been on top of that game for a while now. On the other hand, we know businesses don’t survive on 1st-party only. And that’s why the Private DMP was built to comprise both possibilities.
- Real-time segmentation: From the moment a user opens an e-mail or leaves a website after adding a product to the basket, how much time does it take for that information to be included in its profile? And, at the end of that line, how long does it take for a segment to be updated with that information? The answer to all of theses question is “immediately”.
- Cross-channel personalization: CDPs’ premise is that of reaching users in every channel with the same profile. That is pretty logic, given that you have the ability to collect data from every touchpoint of a user’s journey. It is the best possible persona you can have. And this is also one of the core features of the Private DMP.
Then why in God’s name do we call ourselves a DMP?
In all honesty? Because to this day a part of the market keeps overlooking Customer Data Plaforms’ existence. It’s much easier to go with DMP. People automatically know what it is. If they don’t, a quick search will fill them in.
At the end of the day, we are more than happy to be a CDP. Designations are volatile and our products have a voice of their own despite the abbreviations.
Shall we finish this with Shakespeare’s Romeo and Juliet? Yes, we shall: “What’s in a name? That which we call a rose / By any other name would smell as sweet.”