In my opinion, a CDP is a DMP interfaced with a CRM. I prefer the DMP with CRM option because in addition to providing marketers and businesses with a consolidated, real-time view of customer behavior and preferences, it enables lookalike audience strategies more easily.
Great video, and to your question for 3rd party audience, we should be utilizing DMP instead of CDP but in the longer run, CDP will eventually help if we get this data with an identifier and stich the data as we move forward with our marketing campaigns
@@MarketHustle can you suggest a firm that I can buy this software and I suppose implement it to my website. Bcus I will be doing Programmatic Advertising. So I will feed that date to my DSP.
Thank you for what you are doing. Actually, I been trying to get the Lead Gen Cheat Sheet for couple weeks but with no response. Can you fix that problem ! Have a good day
How does this compare to salesforce’s customer 360 initiatives and surveys vendors (Medallia/Qualtrics) data experience platforms that provide similar capabilities? Why should/would someone choose one over the other, or both?
I Rich- well a CDP helps to create a unified view of a prospect -- taking data from multiple sources and creating one user profile. Where traditional CRM solutions require you to identify via PII (name, email, ect.), but might not be able to use mobile identifier data, IDFA, ect. Hope that answers your question.
How does, say, a lapsed identified segmented user's profile adjust if they become a loyal customer? Is that an ongoing manual maintenance exercise, or can a CDP automatically move them to the new, appropriate segment based on behavior parameters that you can set?
Using a tagging system and predefined parameters that can be adjusted (i.e. if they take certain actions -- example bought 3x within the last month --> tag as a loyal customer).
So can anyone help me understand this - there are several DMPs- let's say from 100s of publishers, fb, goog & amzn - are these interoperable? How do they ensure cross matching of data given that the data on consumers could be stored in N different ways?
That is a great question that I do not have the domain expertise to respond to. Also, Facebook/Amazon is not buying from the greater internet, they have data on their users and cross-matching via devices/browsers they can do, but Google via DV360 (their DSP) is buying on the open web (i.e. any website) so there are distinctions here, and they would be using either their audience date or using 3rd party audiences, which each company can have a different level of precision to match these audiences (i.e. Oracle Data Cloud).
DMP use sync pixels; which is a process of matching 3rd party cookies across domains. As Safari, Firefox and other browsers do not allow for 3rd party cookie tracking (bar Google Chrome until 2022/23) it's not an effective way to scale data. There are options for companies to do 2nd party data sharing - think Amex & BA. Fundamentally, 1st party data is premium and the best option for a future-proof approach to communicating with customers.
A DMP is a data warehouse that a business would own and manage internally and they could use it to activate audiences, for targeting as an example, via an ad exchange. The ad exchange is external to the business and a marketplace to buy programmatic ads.
In my opinion, a CDP is a DMP interfaced with a CRM. I prefer the DMP with CRM option because in addition to providing marketers and businesses with a consolidated, real-time view of customer behavior and preferences, it enables lookalike audience strategies more easily.
Great video, and to your question for 3rd party audience, we should be utilizing DMP instead of CDP but in the longer run, CDP will eventually help if we get this data with an identifier and stich the data as we move forward with our marketing campaigns
Facts --- they are already becoming the go-to for many large organizations!
This was an informative video. Learnt something new and valuable
Glad to hear that!!!! :)
Very useful, thank you very much.
You are welcome!
very useful info. thanks
Thanks for watching
Very valuable info! Will definitely add a CDP to my long-term goals :) thank you
OE would def benefit, many large brands are turning now more than ever to 1st Party Data as the Cookie Doomsday approaches :)
Informative video. I am excited to see how DMPs will evolve in the near future taking the possible cookie absence and alike into account...
You and me both! There is going to be so much change in the next 2-3 years as this industry continues to grow.
@@MarketHustle It's been 3 years since your comment. What change have happened since then?
Just like what SUSANA C. just "Very valuable info! Will definitely add a CDP to my long-term goals :) thank you"
You're so welcome!
@@MarketHustle can you suggest a firm that I can buy this software and I suppose implement it to my website. Bcus I will be doing Programmatic Advertising. So I will feed that date to my DSP.
Thank you for what you are doing. Actually, I been trying to get the Lead Gen Cheat Sheet for couple weeks but with no response. Can you fix that problem ! Have a good day
Hey bud -- email me and I will send to you z@zarynsidhu.com
Thank you
You're welcome!!
Tysm!, very usefull info
You're welcome!
How does this compare to salesforce’s customer 360 initiatives and surveys vendors (Medallia/Qualtrics) data experience platforms that provide similar capabilities? Why should/would someone choose one over the other, or both?
I Rich- well a CDP helps to create a unified view of a prospect -- taking data from multiple sources and creating one user profile. Where traditional CRM solutions require you to identify via PII (name, email, ect.), but might not be able to use mobile identifier data, IDFA, ect. Hope that answers your question.
Bro thanks for the video, do you have the pdf for this presentation
I do not :/
@@MarketHustle thanks
How does, say, a lapsed identified segmented user's profile adjust if they become a loyal customer? Is that an ongoing manual maintenance exercise, or can a CDP automatically move them to the new, appropriate segment based on behavior parameters that you can set?
Using a tagging system and predefined parameters that can be adjusted (i.e. if they take certain actions -- example bought 3x within the last month --> tag as a loyal customer).
Hey man i have my first marketing job interview on monday! do you have any tips to help ease my stress
Yup -- I made a whole video about this :) czcams.com/video/jkOU01cq8n4/video.html
I would use a DMP of course
WOOHOO
So can anyone help me understand this - there are several DMPs- let's say from 100s of publishers, fb, goog & amzn - are these interoperable? How do they ensure cross matching of data given that the data on consumers could be stored in N different ways?
That is a great question that I do not have the domain expertise to respond to. Also, Facebook/Amazon is not buying from the greater internet, they have data on their users and cross-matching via devices/browsers they can do, but Google via DV360 (their DSP) is buying on the open web (i.e. any website) so there are distinctions here, and they would be using either their audience date or using 3rd party audiences, which each company can have a different level of precision to match these audiences (i.e. Oracle Data Cloud).
DMP use sync pixels; which is a process of matching 3rd party cookies across domains. As Safari, Firefox and other browsers do not allow for 3rd party cookie tracking (bar Google Chrome until 2022/23) it's not an effective way to scale data. There are options for companies to do 2nd party data sharing - think Amex & BA. Fundamentally, 1st party data is premium and the best option for a future-proof approach to communicating with customers.
@@liblu4908 thanks Li, what do you think of contextual?
what are the main differences between DMP and Ad Exchange? I am trying to understand a class and I have this doubt :(
A DMP is a data warehouse that a business would own and manage internally and they could use it to activate audiences, for targeting as an example, via an ad exchange. The ad exchange is external to the business and a marketplace to buy programmatic ads.
👍
THank you
DMP
Correct!
DMP for 3rd party data
Yup!