In recent years, third-party cookies have played a significant role in businesses' digital marketing efforts. However, Google's recent announcement to phase out third-party cookies by 2024 has left businesses scrambling to find alternative ways to collect and analyse customer data in order to provide consistently top-rated customer satisfaction. Customer Data Platforms (CDPs) are one of the best solutions to businesses trying to keep up with the changing landscape of customer data collection.
What is a CDP? A CDP is a software platform that collects, integrates, and organises customer data from various sources to create a comprehensive customer profile. The customer profile includes information such as the customer's browsing behaviour, purchase history, and demographic information.
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What makes CDP so critical? CDPs help businesses build a first-party data strategy. First-party data is the data collected directly from customers, and it includes customer behaviour, purchase history, and preferences. It enables businesses to deliver personalised experiences. We have recently partnered with Amperity to help companies take their digital journey to the next level. As the leading CDP built for the needs of the enterprise, Amperity helped businesses to extend their signature service into every interaction with their guests, improving customer experience and driving better business results with the practice of data. Not only boosting personalisation, but CDPs are also compliant with privacy regulations. As Google privacy regulations become more stringent, businesses need to ensure that they are compliant with these regulations. CDPs are designed to be compliant with privacy regulations, including GDPR and CCPA. By using a CDP, businesses can ensure that they are collecting, storing, and using customer data in a compliant manner.
Are you keen to leverage the power of CDPs but not sure it’s the right solution for your business? FORMM can help assess your digital strategy and also provide recommendations on the right technology, and manage project delivery end to end. Let us know if you’d like to start the ball rolling with a discussion. We’d love to help enable your vision using the latest tools and technology to build better outcomes and a better business with you.