A CDP (Customer Data Platform), DMP (Data Management Platform) and CRM (Customer Relationship Management) are all terms that have been used interchangeably to refer to a platform that enables marketers to process and store customer data for analytics purposes. Know more about CDP vs DMP vs CRM below:
CDP (Customer Data Platform)
A Customer Data Platform (CDP) is a data management platform that allows businesses to collect and manage customer data. The CDP helps with the collection of customer data, including data from multiple sources. This can include salesforce, social media, CRM platforms, third-party apps and even your website.
The CDP makes it easier to manage and use this collected data in order to create targeted marketing campaigns based on customers’ behavior.
DMP (Data Management Platform)
A DMP is a technology that helps marketers to target their customers. It can help marketers to understand the customer’s behavior and preferences, and it can also help them understand the customer journey.
DMPs are used in many ways by advertisers and agencies, including for direct marketing campaigns, advertising across multiple channels, attribution modeling, campaign measurement and optimization.
The data collected from DMPs is often pre-owned by various data partners such as CRM providers or eCommerce platforms (such as Shopify), so there’s no need for you to create your own source of first-party consented data.
CRM (Customer Relationship Management)
CRM (Customer Relationship Management) is an integrated software platform that helps companies manage their customer relationships. It’s usually available as a cloud-based service, with several different versions of the software marketed to businesses of various sizes and needs.
While CRMs offer many benefits for companies, they also have some drawbacks.
CDP vs DMP vs CRM
CDP, DMP and CRM are three related terms that are often used interchangeably. They all deal with data, but they’re not the same thing. Here’s a breakdown of each:
CDP stands for “Customer Data Platform.” A CDP is a technology platform that gathers customer data from across an organization and allows it to be easily accessed by other systems for use in ad targeting, personalization and more.
DMP stands for “Data Management Platform.” A DMP is similar to a CDP in that it collects various types of customer information from different sources throughout an organization and makes them available for analytical purposes such as reporting or forecasting.
“While a DMP uses anonymous, third-party data, a CDP and a CRM use first, second, and third-party data,” as Adobe Real-Time CDP states.
CRM stands for “Customer Relationship Management.” It refers specifically to software used by sales teams to organize contacts within their company’s database so they can easily access contact details when they need them and thus increase efficiency in sales efforts overall by avoiding duplicate emailing or calling prospects who have already been approached about a particular product or service.
The main difference between CDP and DMP is that the former is a data-driven business platform and the latter is a marketing platform. On the other hand, CRM stands for Customer Relationship Management, which helps manage internal customer relationships.