You already know that you need to break down organizational silos to change the way teams work together. Knowing this, you may be thinking about investing in the hot new technology of a Customer Data Platform (CDP).
These marketer-managed data repositories allow you to create a single customer profile that can then be used by other systems. This gives you the power to enhance your (re)engagement activities across media. CDPs can be a smart way to collect data once and make it work for you, again and again, breaking through silos to create a more cohesive process for your team. Instead of having different team members each independently working on a piece of the puzzle, you can use this technology to bring them together.
You’ve probably already started hearing vendor pitches for a CDP (and if not, just wait. They’re going to be all the rage for 2019). Before you make a decision about a purchase, though, my advice is to take a step back and make sure that you have the talent in place to take full advantage of what a CDP has to offer. Continue reading
Let’s say you’ve got a loose stair that’s been driving you crazy because it springs up every time you step on it. You’ve decided to take care of it but don’t have a hammer. When you get to the store to pick one up, you see that your options are a standard hammer or one that promises to be industrial grade that’s made of the finest materials known to man. Everything about the second hammer screams superiority. It’s in a shinier package. It’s, in short, a better hammer. It also costs ten times more than the first hammer.
At that point, you may try to justify the “investment” by thinking you could use it to take on all those home improvement projects you’ve been putting off for a very long time. But once you take out the weekends you are going to be away, and the ones you have already blocked off for previous engagements, do you really have the time they would require to tackle them?
If all you’re going to use the hammer for is to repair your loose stair, is it really worth the investment?
Companies large and small make the mistake of being lured in by the promises of advanced technology platforms. To be sure, these platforms are truly innovative, and many can deliver on the promises they’ve made. However, when it comes to marketing technology, the value is determined by the features you actually use rather than the features that are available. You have to remember that your technology is a tool. Like any other tool, the way you use it is going to determine its worth. Continue reading