What is the difference between CDP, DMP, and CRM platforms?
In particular, customers on the internet understand their value and prioritize individualized service. Therefore, any company should take care to provide a high-quality user experience to retain customers. Otherwise, it will not be possible to maintain positive customer relationships on a long-term basis.
If you want to meet the expectations of your customers, you need an effective program for collecting customer data.
There are several different platforms that address customer data, including CRM, DMP, and CDP. But without a competent comparison, it's difficult to understand exactly which program you need and what the differences are between them. This article will help you to understand the features and essence of each in detail.
Talking simply about platforms for obtaining data
Let's start with the definition of each program.
CRM – Customer Relationship Management
CRM is a simple business management program that helps to increase profits by up to 50%. In this case, we are dealing with customer relationship management. Thanks to this platform, you can build effective relationships with customers and sell more.
CRM keeps customer data like calls, purchase history, etc. When a customer contacts the company, the program outputs all the data about it. So, any manager understands what approach is suitable for a particular person.
DMP – Data Management Platform
This platform collects audience data from mobile apps, cookies, CRM, social networks, points of sale, TV, and video. That is, it exclusively uses third-party open sources. This platform does not work with profiles. The goal is to collect as much information as possible and process more audience data.
This information can be used to set up personalized service and advertising. It can also be used to define interactions with different platforms and the monetization of data.
CDP – Customer Data Platform
This is a large unified database that gathers user profiles based on its own algorithms. DMP and CRM act as sources for collecting information. So, CDP is at the head of communication channels.
It stores all the information about a customer, from behavioral habits on the internet to search history. If you can use this data correctly, you will be able to set up competent personalized communication with users and sell more as a result.
CDP creates a clear and complete individual picture about each customer. Information is collected from various sources and systems. As a result, a 360-degree client profile can be created.
Top 5 differences between CRM, DMP, and CDP
We invite you to familiarize yourself with our comparative table, which will allow you to further understand the differences between the programs:
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- Create customer profiles based on their purchase history.
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- Export data to tables.
- Integrate data with CRM and ERP, accounting systems, and online stores.
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