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A data management platform, or DMP, is a vital part of the marketing stack – but its power is limited to get really rich data about individuals and then make it applicable across any touchpoint.
In fact, analyst David Raab explains that “DMPs work with almost exclusively with anonymous entities such as cookies, devices, and IP addresses. Indeed, anonymity is essential to the DMP’s role as a way to exchange information about audiences without violating personal privacy.”
On the other hand, customer data platforms (or CDPs) work with both anonymous and known individuals, storing “personally identifiable information” along with behavioral insights – and without one to connect information across all of a company’s systems, you’re low on actionable insight.
Businesses today have multiple reserves of customer information, some in DMPs, some in CRM systems and ESPs – and they’re taking in more all the time. A CDP connects these many profiles, creating a single source of truth. Equipped with a comprehensive view of each individual customer, marketers have what they need to achieve an array of acquisition, engagement, and retention goals.
Comprehensive insights about consumers and the things that motivate them are impossible to discern without the kind of integration a CDP provides – which is why companies today can’t afford to pass on these solutions.
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