Many brands are emerging from the early stages of their first-party data strategy. Now, they are moving on to the next stage in their data strategies. They are looking to augment their data with third-party insights, connect their data with partners and activate their data across marketing and advertising channels.
In that “phase two” of the first-party data journey, the customer data platform (CDP) is emerging as a critical piece of how brands work to consolidate their first-party data. But while the CDP can help assemble a unified consumer record, not all CDPs are created equal. Each CDP has varying strengths and weaknesses, and they can’t support all organizational needs. To activate first-party data effectively, brands must zero in on their precise “CDP + identity” approach.