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We’ve Got One Too: SAP Launches Its Customer Data Platform - AdExchanger

We’ve Got One Too: SAP Launches Its Customer Data Platform - AdExchanger | The MarTech Alert | Scoop.it
SAP said it will release its enterprise customer data platform globally next month. SAP first teased its plan to roll out a CDP in May of last year.

But SAP stressed its foray into the CDP category is about more than marketing. That expansiveness is one of its differentiators, said Bob Stutz, who joined SAP as president of customer experience late last year after a stint as CEO of Salesforce’s marketing cloud.

Most CDPs are “geared toward marketing,” said Stutz (who somewhat famously referred to CDPs as a “passing fad” while at Salesforce), whereas SAP’s offering can also handle other scenarios, he noted, including commerce, service, support and supply-chain management, which all fall under the umbrella of customer experience.
CYDigital/marteq.ios insight:

Honestly, I was under the impression that they already had one. What took them so long?

 

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CDP vs. marketing automation: What's the difference? - TechTarget

CDP vs. marketing automation: What's the difference? - TechTarget | The MarTech Alert | Scoop.it
While many businesses use marketing automation systems, they may consider also incorporating CDPs to use personalization, organization and insight that marketers can act on much further. Here are a few of the key differences between CDPs and marketing automation systems.

CDPs pull together user data from all over, including the web, online channels, customer profiles and contact centers. Marketing automation software collects customer information from CRM systems.
Marketing automation platforms can link some channels -- such as email -- to drive targeted marketing campaigns. However, a CDP can deliver personalized experiences in real time and use data from many sources to recognize the customer and adjust the experience accordingly.
CDPs aim to provide actionable insights to marketers to fuel campaigns, while marketing automation systems aim to drive campaigns without generating insight for marketers.
CYDigital/marteq.ios insight:

Which consumes which, because you really shouldn't need two separate systems. Eventually MASs must have CDP capabilities, even if not as feature-rich as standalone CDP solutions.

 

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When CDPs Fail: Insights from the CDP Institute Survey | CustomerThink

When CDPs Fail: Insights from the CDP Institute Survey | CustomerThink | The MarTech Alert | Scoop.it
Where things got really interesting was a closer look at the relationship of customer data architectures to CDP status. You might think that pretty much everyone with a deployed CDP would have a unified customer database – after all, that’s the basic definition of a CDP and the numbers from the two questions are very close. But it turns out that just 43% of the respondents who said they had a deployed CDP also said they had a unified database (15% with the database alone and 28% with a database and shared orchestration engine). What’s going on here? 

The obvious answer is that people don’t understand what a CDP really is. Certainly we’ve heard that complaint many times. But these are CDP Institute members – a group that we know are generally smarter and better looking and, more to the point, should understand CDP accurately even if no one else does. Sure enough, when we look at the capabilities that people with a deployed CDP say they expect from a CDP, the rankings are virtually identical whether or not they report they have a unified database. 
CYDigital/marteq.ios insight:

CDP exists because the functionality is not available in CRM/MAP, and should be. The report is here: https://lp.cdpinstitute.venntive.com/DL2207-CDPI-Member-Survey-2020

 

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4 Steps to Getting Started with Customer Data Platforms for B2B Marketers - CMSwire

"1. Understand the Types of CDPs
A CDP is different from other central databases for customer information because they’re owned and operated by the marketing and/or revenue departments, ultimately in place to serve marketing’s purposes. There are also different types of CDPs: standalone and embedded. A standalone system is a single platform that integrates data from multiple sources and functions only as a CDP. 

An embedded CDP, on the flip side, is part of a different platform. For example, you might get a business solution (like account-based marketing software), and the CDP is already embedded into it. The advantage of an embedded CDP is that it allows you to work in various intermediate modes. It’s great for delivering initial use cases and getting value quickly for B2B marketers. It also ensures your architecture is already set up for maximum data optimization and for more of the hub-and-spoke data model that is sure to define marketing tech stacks in the future. 

2. Review Vendors (and Know What You’re Looking For)
3. Ensure You’ll Meet Privacy Laws
4. Map Out Ownership and Workflows"

CYDigital/marteq.ios insight:

A nice, brief primer on CDP should you need an overview.

 

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Do You Need a CDP or a DXP? It Depends - CMSwire

Do You Need a CDP or a DXP? It Depends - CMSwire | The MarTech Alert | Scoop.it
CDP Definition
From the CDP Institute: “Packaged software that creates a persistent, unified customer database that is accessible to other systems." CDPs typically have four common characteristics: integrating audience data from multiple sources, managing customer identities, supporting real-time customer segmentation, and provisioning customer data to other systems.

DXP Definition
From Gartner — “An integrated set of core technologies that support the composition, management, delivery and optimization of contextualized digital experiences.” Some definitions include an architecture component for the construction of the digital infrastructure as well: “DXPs provide an architecture for companies to digitize business operations, deliver connected customer experiences and gather actionable customer insight.” Many DXPs list content management, personalization and journey optimization, omnichannel marketing, managing net promoter scores (NPS), facilitating customer self-service, and developing and managing a landscape of digital applications as expected functionality. 

While there are differences between these applications, there are also many overlapping capabilities, particularly when you consider the “beyond capabilities” offered by some of the major vendors in both categories. Some analysts say that CDPs are or will be absorbed into the DXP world to provide the data needed to deliver great digital experiences, but this is far too simplistic. Some also label the CDP as analytical in nature and the DXP as operational. Again, too simplistic. 
CYDigital/marteq.ios insight:

You can't operate a digital experience platform without data from a customer data platform.

 

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Why Customer Data Platform are Big Data and MarTech Gateways? - Analytics Insight

Why Customer Data Platform are Big Data and MarTech Gateways? - Analytics Insight | The MarTech Alert | Scoop.it
The data CDP in is analogous to a customer database, it encapsulates data merging, data aggregation utilizing standard connectors within the CDP. The solution brings the basic functions for diagnostics, backup and data monitoring for quality so that the best data pipelines are ensured within the CDP already during data integration.
An analytics CDP enriches the CDP’s internal customer database with customer segmentation information and customer profiles. Subsequently, an analytics CDP deploys this data to churn into information, partly with the help of artificial intelligence. This is done to perform selections and determine target groups for subsequent utilization.
Engagement CDP is the umbrella term for customer database, analysis/selection and campaign initiatives. Through standard connectors and identity matching, it creates the customer perspective necessary for targeted campaigns, produces segments to address customer positioning. These target groups then receive personalised offers in multi-channel campaigns. A campaign CDP focuses on adding value to the customer lifecycles.
CYDigital/marteq.ios insight:

Data has always been the weak aspect to MAPs. 

 

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Marketers still struggle to build a unified source of data - MarTech Today

Marketers still struggle to build a unified source of data - MarTech Today | The MarTech Alert | Scoop.it
The challenges outlined by Emily Hoffman, product marketing manager for Datorama, are often the result of disparate and siloed systems across not only the marketing organization, but businesses at large. Marketing efforts are spread across various channels — paid ads, social, email, etc. — without the technology or resources to effectively tie together the data from multichannel campaigns. Meanwhile, teams managing various data sets are just as divided with marketing, business intelligence, customer service groups and more all working within their individual silos.

“Marketers really need a transparent and holistic view to see what campaigns are most effective, how their content and offers are performing and how to understand all of their engagement,” said Hoffman, “And then, on the other side, transparency across teams is equally as important because it allows stakeholders to align and to ensure that every everyone is striving toward a shared goal.”

A Forrester report from last year backs up Hoffman’s claims, finding that marketing and business intelligence teams were often too siloed to maintain effective communication patterns, even though they relied on each other for day-to-day operations. (More recent research from Forrester found that less than 40% of customer experience executives even knew where all of their customer data was stored.)
CYDigital/marteq.ios insight:

From the adjacent post: the CDP is the core to your martech stack.

 

marteq.io delivers zero party data solutions that significantly reduce digital advertising costs. Learn more: https://www.marteq.io #martech #marketing #adtech

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6 Ways to Improve Your CDP Data Strategy - CMSwire

6 Ways to Improve Your CDP Data Strategy - CMSwire | The MarTech Alert | Scoop.it
The collection of marketing and technology software that a business uses is referred to as a martech stack. The CDP works in conjunction with the martech stack, but whether the CDP is at the core of the martech stack actually depends on many factors. Naras Eechambadi, founder and CEO of Quaero, expounded on this relationship, and stated that it “depends on the CDP’s particular focus, how a company chooses to leverage the CDP, and the company’s vertical, data maturation, size, etc. Some (not all) CDPs have the potential to be the core of a marketing stack, serving as the data orchestrator that brings in data from other martech systems that are collecting customer data while feeding all of the channel specific engagement systems, e.g. personalization, email or paid media.”

Typically, a CDP is designed to connect to the various data points that a business accumulates, but that connectivity also depends on whether a business is using off-the-shelf technology, or proprietary software.

Eechambadi explained this connectivity, as he stated that “CDPs usually have pre-built 2-way connectors to most common sources of customer information such as marketing clouds, tag managers, billing and ecommerce systems as well as paid media channels such as Google and Facebook. For proprietary software packages, most CDPs can add custom connectors where needed, although this may entail additional work and expense. They can, therefore, be customized to meet the specific requirements of each individual customer, although some CDPs are more flexible than others in this regard.”
CYDigital/marteq.ios insight:

CDPs should be the core of your martech stack.

 

marteq.io delivers zero party data solutions that significantly reduce digital advertising costs. Learn more: https://www.marteq.io #martech #marketing #adtech

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The State of the CDP. How Organizations Buy, Implement, and Use CDPs - Tealium

The State of the CDP. How Organizations Buy, Implement, and Use CDPs - Tealium | The MarTech Alert | Scoop.it
We asked over 300 U.S. marketing, analytics and data decision makers how they leverage CDPs today, the challenges they face with current vendors and their future plans for CDP technology. Download now to discover the key findings and how to:

Make sense of the CDP landscape
Use CDPs to break down internal silos
Prepare for the future of data orchestration
Set up your organization for data success
CYDigital/marteq.ios insight:

From Tealium, an established CDP provider. 

 

marteq.io delivers zero party data solutions that significantly reduce digital advertising costs. Learn more: https://www.marteq.io #martech #marketing #adtech

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