David Raab, Founder and CEO of The CDP Institute discusses the many benefits of Customer Data Platforms for B2B marketers and why there will always be a growing demand for technologies and platforms like CDPs.
About David Raab and The CDP Institute:
David is founder and CEO of CDP Institute, which helps marketers make better use of their customer data. David has been an industry consultant for many years, working with marketers to find and deploy the best technology of the period. He denies having known Benjamin Franklin personally!
Top ten takeaways from the episode:
- “About 3 weeks ago, we reacted to a great deal of confusion in the marketplace – that was the reason behind The Real CDP Program.”
- “You’ll be surprised to find many systems call themselves CDPs but don’t have all the capabilities to really be a CDP.”
- “The need for unified customer data will be with us for a long time.”
- “CDPs make it easier to deliver on Account-based Marketing/ABM. Specialized CDPs designed for B2B companies work at both levels to enable this.”
- “Sales and Marketing people need enough data to understand the current state of each target contact, that’s where CDPs are most useful.”
- “We used to define CDP as a marketer-controlled system, but its meant for Customer Success teams, Sales teams…many teams within a company can make use of the information in a CDP. CDP is focused on giving a product view of the data.”
- “What a CDP can do is give access to the same data to multiple teams within an organization so everyone has the same data to look at.”
- “Getting good data, knowing who to talk to, understanding what they’ve purchased in the past are some of the things that can be streamlined through CDPs.”
- “A good CDP, some of the more advanced ones will look at advanced messaging features, it will suggest who to talk to and when. There’s a lot of interesting work being done here that borders on predictive and prescriptive models.”
- “Many predictive modeling systems eventually morphed into CDPs.”
Sunny Side Up is a series of 15-minute podcasts. Leaders and innovators share what they’ve learned in the B2B tech sector on topics related to marketing, product management, sales, and leadership.