How Choosing CDP over DMP can bring you Marketing Growth
What’s the real difference between a Customer Data Platform (CDP) and Data Management Platform (DMP)?
There’s often confusion around this, but it is good to know that these are two separate entities. Both of these use two different types of data.
The DMP primarily is a system that collects and manages data sets of audiences. DMPs receive their data from third party data providers or by having its own ecosystem when there is a large number of user information. For instance, Facebook and Google have a huge amount of customer data, so they anonymize it and sell to other companies who would require it for their sales and marketing.
Here’s something you should know:
- The Customer Data Platform (CDP) market size is expected to grow from USD 2.4 billion in 2020 to USD 10.3 billion by 2025 – MarketsandMarkets
- Leading marketers are 58% more likely than mainstream marketers to strongly agree that first-party data is a ‘strategic asset’
Where does the problem lie?
According to studies, 57% of marketers are getting diminished results as a result of misinterpreting data. This is common across industries.
Why is CDP valuable?
The whole point of CDP is to collect as much data as possible about an individual that helps in creating their ‘User Journey’. A CDP can process any type of Personally Identifiable Information (PII) which isn’t anonymous. This allows marketers to create accurate segmentation lists of target audience and understand their interest to categorize them better.
ADOHM relies heavily on CDP and provides accurate customer information to marketers. It lets businesses create a complete customer profile and tracks their interests, which in turn helps in providing an enhanced customer experience.
Sign up with ADOHM to know more and explore a whole new way of precise and accurate marketing with minimal effort and spend.