Marketing Consumer Platforms — CDP vs DMP vs CRM vs CXM
If you are working in the marketing business, then surely you would have these terms — CDP, DMP, CRM, and CXM. In some way, they are deal with the consumer data and intend to increase the digital experience through personalization, targeting, and build the consumer lifetime value. Many companies are adopting technology platforms to implement these capabilities in the enterprise. Though there are overlapping capabilities, it is critical to understand the uniqueness and how they can work with each other.
CDP — Consumer Data Platform
CDP is a system for Marketers, which aggregates data relevant to consumer into a single view called Consumer 360 view included profile, transaction, behavioral, and other offline data sources
Capabilities
- Collect and harmonize consumer data from all possible touch points
- Build consumer 360 views across channels
- Descriptive dashboards of consumers across the product lines or brands
- Predictive models for the marketing campaigns
Usage\Benefits
- Increase the marketing campaign outcomes
- Hyper-personalization for the consumers
- Improve the research & development based on consumer preferences
- Predict the campaign outcomes and take appropriate actions
Examples: Twillio Segment, Amperity, oktopost, Tealium
DMP — Data Management Platform
DMP is widely used for re-targeting advertisements back to anonymized consumers using the browsing behavior and patterns
Capabilities
- Capture the anonymous consumer identity
- Merge consumer data using relevance & matching algorithms
- Build segments and geographic boundaries for AD targeting
Usage\Benefits
- Increase in marketing reach and online sales
- Understand the consumer preferences & behavioral patterns
- Improve the experience through relevant content or ads
Examples: Salesforce DMP (Krux), OnAudience, Nielsen DMP
CRM — Consumer / Customer Relationship Management
CRM is mainly used by the customer or consumer-facing teams such as sales, eCommerce, B2B, etc. It helps them capture the leads, identify the opportunity and track the complete engagement cycle and status of the consumers
Capabilities
- Record the several interactions with the consumers
- Manage multichannel interactions using surveys, polls, email responses, etc
- Marketing automation, sales enablement, and customer service support
Usage\Benefits
- Improve the sales and consumer service experience
- Build loyalty and partnership with the consumers through continuous feedbacks
- Promote new products, offers and cross-selling
Examples: Salesforce, Hubspot, Microsoft Dynamics, Zoho CRM
CXM — Consumer Experience Management
CXM is the key tool for digital marketers and eCommerce leads to increase the experience of the consumers at every digital touchpoint.
Capabilities
- Consolidate the consumer profile & behavior information
- Personalized content and product targeting
- Customer segments and build marketing automation rules
- Include all digital touch points including social platforms
Usage\Benefits
- Drive loyalty and retention of the consumers
- A/B testing and measure the campaign goal success
- Dynamically adjust the personalization and targeting
Examples: Sitecore Experience Manager, Adobe Experience Manager, Sprinklr
