CDPs can help source first-party data

New Ideas in MarketingEssential news for marketers, summarised by YouGov
June 18, 2021, 12:21 PM GMT+0

Consumer data platforms (CDPs) compile first-party data from CRM systems, loyalty databases, and other sources to build a unified customer profile.

With third-party cookies being phased out, organisations looking to collect first-party data and improve ad targeting can use CDPs. However, to ensure CDPs’ feasibility, brands must build cross-functional teams to understand the platform's business use case and set ROI estimations prior to adopting it.

To properly implement CDP, businesses should review marketing structures and operating methods. Seek the counsel of data professionals while collecting consumer data to be integrated into CDPs.

Deploying quantitative RFPs and pilot programs through agencies and IT teams can help brands find appropriate CDP vendors aligned with their goals. Agencies can assist firms in determining the business case for CDPs, assess their potential to exploit CDPs and build relationships with stakeholders.

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