CDP

Photo by Joshua Sortino on Unsplash

Dive into the world of Customer Data Platforms (CDPs), a vital tool for multifamily executives striving to improve customer engagement. CDPs collect, organize, and consolidate data from various touch points into a unified customer profile. By offering a comprehensive view of your customer’s interactions with your product or service, they enable you to create personalized marketing campaigns.

A CDP differs from a Data Management Platform (DMP) and a Customer Relationship Management (CRM) system. While a DMP is exclusive to advertising and a CRM organizes customer-facing interactions, a CDP collects behavioral data to personalize your marketing strategies.

Primarily, CDPs use first-party data collected directly from customers. This data is more accurate and reliable than third-party data purchased or shared among businesses. With the help of customer data integration, CDPs transform raw data into a usable form for in-depth analysis.

Three Benefits of CDPs

CDPs offer three benefits: effective customer data management, insightful customer analytics, and improved data protection and privacy. These platforms organize customer data, facilitate understanding of customer behavior, and ensure data privacy compliance with regulations like GDPR and CCPA.

Selecting the right CDP requires understanding your requirements, use cases, and industry. Numerous companies have used CDPs effectively to enhance their marketing, showing the immense potential of these platforms for multifamily executives. Here is one example.