by twieberneit | May 23, 2022 | Blog, Sponsored |
These days, Customer Data Platforms, or in brief CDPs, are one of the most discussed topics in the CX industry. Last time I looked, the CDP Institute counted more than 150 CDPs of different flavors that target different business challenges. This raises a lot of questions, chiefly: What is a CDP? Which business challenges do companies solve with a CDP and how do they approach the solution, i.e. how do they proceed implementing one? Let’s start at the beginning. According to the CDP Institute, a CDP is “packaged software that creates a persistent, unified customer database that is accessible to other systems”. Figure 1: A simple model of CDP functionalities Functionalities offered by CDPs reach from simple data gathering and unification to the activation and even active usage of information derived from customer data. This already shows the different business challenges that can be addressed with a CDP. It also shows, that the business challenges can be addressed in a way that provides increasing value to the business. As an aside: A good CDP always bases on a solid foundation of customer identities and the consents that customers have given. The second important question is how a CDP can or should be implemented. What is a viable approach? To learn more about these questions, we spoke with Mario Kurmann, Senior Product Manager CRM at Migros Fachmarkt AG in Switzerland. Mario was responsible for the initial CDP implementation and now for its continuous improvement. Migros is one of Switzerland’s biggest retailers. Fachmarkt, as part of Migros, basically operates five independent brands in the areas of sports, electronics, home improvement, furniture...
