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What you need to know about CDP in 2024

Jan 4, 2024 | Admin, Data Integration, Latest News

If you were part of any business data strategy conversation this past year, the drive toward CDP has inevitably come up. A customer data platform (CDP) is the new hot ticket motivating companies big and small to get their customer relationships and associated information in order for more powerful sales and outreach. And it’s only projected to become even bigger in 2024. 

Salesforce’s Data Cloud offering is the all-in-one answer for CDP demands—and then some. It not only provides the basic functionality you’re looking for from a CDP but also integrates seamlessly with other tools and processes (you know, the whole acronym alphabet of CRM, ERP, etc.), delivering stunning results that empower users. In this article, we’ll review three key things decision-makers need to know about Data Cloud as they prepare to make CDP investments this year.

 

It’s a value-add investment for ALL industries

Since Data Cloud is all about unifying customer data and turning insights into actions, it’s a strong play for business leaders in any industry. Whether you’re a manufacturer looking to understand and partner and end customer usage better or a retailer looking to make the most out of dynamic advertising efforts, CDP has a use case for you. 

For telco and industrial organizations, a Data Cloud CDP implementation gives you the ability to identify the best times for engaging in upsells and deliver potential package upgrades or servicing add-on opportunities. Meanwhile, for healthcare providers and payers, CDP is a robust way to track patient health scores, critical health markers, and other preferences. Finally, financial services can leverage CDP to monitor major financial events and retention rates or manage debt-to-credit ratio data. 

 

It’s a foundational layer for AI advancements

In 2023, a lot of hype ramped up for AI use cases in business—and the possibilities are exciting. But many companies quickly realized that the ultimate dreams of generative AI won’t be truly realized without a strong data management culture and system in place first. That’s why CDP serves as the perfect headstart platform to fast-track your organization to more extensive AI usage. 

Implementing Data Cloud for CDP motivates your organization to clean up, validate, and transform data so it’s ready for dynamic analysis. And by organizing your customer data in a cohesive, intuitive way, Data Cloud helps foster that customer-centric but data-driven culture necessary for fruitful AI down the road. In short, you can fuel future AI innovations now with the data you feed a CDP. 

 

It benefits sales, marketing, and customers

The praise for CDP often centers on the ease of use for sales and marketing business users, and rightly so. Marketing can take advantage of a Data Cloud CDP instance to boost media campaigns to the precise audience they’re targeted for or track lead gen/conversion more closely, while sales can then monitor engagements across channels and identify opportunities with real-time speed. 

But what’s often overlooked is the benefits for everyday customers. Consumers working with a business that leverages CDP enjoy a more dynamic UX on brand websites, apps, and promotional advertisements. The customer experience also becomes more cohesive and seamless as customer preferences are in sync throughout all departments thanks to Data Cloud.

To start road mapping or implementing Data Cloud for your organization’s CDP or to explore additional data management innovations with Simplus and Infosys, let’s start a conversation today. We’d love to lend our expertise to create the perfect data revolution for you.

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