With all the buzz in the market surrounding Customer Data Platforms, answering these three questions will ensure you achieve a successful outcome.
1. What is and what isn’t a CDP?
A lot of vendors have latched onto the CDP name, promising more than they can actually deliver. Make sure you know the true definition.
A true CDP is an off-the-shelf technology that functions as the brain of an organization’s marketing technology stack. It starts by collecting customer identities and interaction data from all first- and third-party sources (through prebuilt, real-time data connectors), and stitches them together into a single, persistent profile for each customer. It then empowers marketers and other business teams with intelligence by providing a user-friendly interface for analyzing customers, segmenting audiences, and predicting next-best-actions. Finally, the user interface enables automated orchestration of 1:1 personalized journeys across all marketing, CX, and commerce channels, including test design and measurement.
2. What are the right questions to ask potential vendors?
Make sure you are asking for all of the critical functionality, including features within: data collection, identity resolution, audience segmentation, customer analytics, journey design, testing & measurement, system infrastructure, system security, technology implementation, and ongoing support.
3. How do you put this all together into an actual RFP that will get you the solution you need?
Remember to ground your RFP in the specific use cases your organization seeks to achieve (e.g. “We need to retain more customers by providing relevant recommendations across marketing, CX, or commerce channels”). This use-case methodology makes it easier to compare CDP vendors since you will know how their technology enables each use case.