Tag: customer data platform

In today’s data-driven retail environment, understanding your customers is no longer a nicety but a necessity. This is where two powerful tools come into play: Customer Relationship Management (CRM) and Customer Data Platform (CDP). While both offer valuable functionalities and are often used interchangeably, they serve distinct purposes and cater to different aspects of the customer journey. As retailers navigate the digital frontier, comprehending the nuances between CDPs and CRMs becomes increasingly crucial. This blog post aims to shed light on the fundamental disparities, comparing CDP vs CRM, offering a comprehensive guide to help retailers make informed decisions about their

Continue reading

In the Gen-AI era, a customer data platform (CDP) is a crucial asset for scaling retailers. CDPs empower retailers to analyze data from disparate sources, generating valuable insights that inform personalized marketing campaigns. This allows retailers to target the right customer with the right message on their preferred channel. According to McKinsey & Company, personalization achieved through CDP utilization can lead to an average revenue increase of 10%. However, implementing a CDP comes with potential challenges. Businesses must be mindful of the costs associated with incorrect data analysis, as Gartner estimates this can cost an average of $12.9 million per

Continue reading