There are many customer data platforms (CDP) options out there. approx 161. That’s 161 potential alternatives to sift through. This number will only grow, with the industry reflecting a consolidated revenue of $2 billion for 2022, up 25% from 2021.
Our customers tell us that finding the best CDP in the market that fits their use cases and budget is like a needle in a haystack. There is no correct answer in most situations. But there are some factors that you can use to evaluate the CDP partner you want to onboard.
Want to find out how to choose the best CDP for your business? Read on.
Why do you need a customer data platform (CDP)?
Let’s examine why every contemporary brand needs a CDP that doubles as a marketing automation platform. We will then compare ReBid Insights with other customer data platforms out there.
Breaking data silos
With modern tech stacks, your customer and marketing data exist across numerous systems and tools within different (or even the same) departments. Data unification becomes challenging. Often, marketing and other teams can be so disconnected that they often have duplicate data or different moving parts of the same customer profile.
A CDP helps bring all these pieces together on a single platform for sound analytics and decision-making. Further, a robust CDP should also be able to ingest and analyze data from online and offline sources.
360-degree view of the customer
CDPs don’t stop at unifying data. They also synthesize the data through segmentation and identity resolution. Segmentation is bifurcating the vast expanse of customer data into discernable segments. It powers hyper-accurate campaign targeting, thus improving your ROAS. For example,
you may sort customer cohorts into segments like “females aged 25-30 interested in fitness products and spend $500-$600 on fitness per month.”
With identity resolution, CDP can help your advertising tools identify customers across multiple data sources. Pam, who’s looking for athletic wear. She browses through your app and social media pages to check out her favorite fitness influencer. She also skims through product offerings on your website. Your CDP should know that Pam is the same person across all these channels.
A contemporary CDP will record these interactions across your platforms as a seamless, unique customer journey. Identity resolution will scour through the app, website, and social media engagement data and identify these interactions to create a single customer view. This view and related insights can help you target customers with custom messaging and consistent experience across all channels across their purchase journey.
Increasing campaign engagement
Customer data platforms compile data across various sources and then process them per your advertising needs and campaign goals. This gives marketers deep insights into the customers, allowing you to plan and optimize your ad spends, creatives, and messaging through the different channels and phases of your campaign.
Nuanced and consistent messaging.
Ready to break customer data silos and increase campaign engagement? Activate our AI-powered CDP for this and more. Request a demo today.
How is ReBid Insights different from other CDPs?
We knew the best that a contemporary CDP could offer to marketers, and we built ReBid Insights around it. And then, we pushed the envelope a little more.
Here are the reasons why it might just be the best CDP on the market for advertisers and marketers who demand results.
ReBid Insights is a custom CDP designed to meet your unique data use cases
We understand that every brand has unique use cases for its CDP investments. ReBid Insights gives you the tools to:
- Understand what your analytical requirements are;
- Efficiently meet these requirements through the essential frameworks, integrations, and resources
There is no lock-in with any cloud vendor. You decide what you need, and we provide it to you. ReBid Insights delivers on-demand integration of data sources unique to your business – like websites, apps, servers, clouds, and destinations like analytics or marketing stack. Or even your data warehouse.
We have templates that extensively cover what most brands need to fulfill their analytical goals. If you require something different, we will whip that up for you on-demand. With an ideal combination of pre-built and customized, you can stand out and scale quickly.
ReBid Insights helps you unlock physical world customer insights
Personalized ads are no longer supposed to be spammy. Customers expect more out of you. And you can deliver this only when you know your customer beyond those clicks and views. There’s a whole world your customer lives in, which is outside the screen. Without these physical world insights, your personalization efforts will be, at best, half-baked.
ReBid Insights helps you follow your customer’s journey from start to finish on online (web, app, social media) and offline (in-store, customer support interactions, verbal feedback) platforms. We collate customer and behavioral data across these touchpoints to help nail down your messaging.
You will be able to deliver product recommendations and guide the customer journey based on holistic behavioral insights. Naturally, this will lead to higher campaign engagement and customer acquisition and retention rates while optimizing your advertising costs.
ReBid Insights delivers product and customer analytics
Product analytics requires understanding the specific ways in which a customer engages with your product or service. With this insight, marketers get more context to user engagement metrics and other data points related to customer behavior.
With first-party data at your disposal, your product teams will dive deep into how the consumer experiences a product or service. These insights can help them drive the product roadmap with a customer- and experience-first mindset.
Both product analytics and customer analytics put together help you understand your customers in truly nuanced ways. With such layered understanding, your analytics can contribute to:
- Enhanced customer experiences
- Increase across vital metrics like customer lifetime value
ReBid Insights understands your customers’ data security and privacy needs
With the introduction of privacy standards like CCPA and GDPR, privacy regulations around customer data are getting tighter around the world. Simultaneously, the modern consumer approaches online purchases, brand interactions, and advertising with a privacy-first mindset. Almost half of the customers wouldn’t want to share personal data with brands to receive a personalized ad.
But many would, if brands can keep their data safe and adhere to privacy regulations, because an equally staggering number of customers also demand personalization in their brand interactions. Leveraging data in a privacy-forward manner can save businesses millions in post-breach recovery and build customer trust.
ReBid Insights complies with GDPR and other geo-specific data security and privacy regulations. It is SOC2 Type- 2 and ISO 27001 certified. We have a shared understanding with brands that, collectively, we just can’t compromise on customer data security and privacy. We strike a balance between personalization and privacy.
With a custom rules engine for high data privacy and control, your teams will be notified of any security breaches and can control them proactively, protecting both brands and their customers.
Choose higher marketing ROI; choose ReBid Insights
There is no objective “best” CDP in the market.
But we customize ours to do and be what’s best for your business.
With ReBid Insights, you can experience flexible customization to receive exceptional insights across offline and online channels while boosting ROAS. All of this without compromising on data security. What’s not to love?