Should You Use A CDP?
Marketing School - Digital Marketing and Online Marketing Tips
Eric Siu and Neil Patel
4.6 • 1.4K Ratings
🗓️ 19 January 2023
⏱️ 5 minutes
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| 0:00.0 | Welcome to Marketing School, the only podcast that provides daily top-level marketing tips and strategies from entrepreneurs that practice what they preach and live what they teach. |
| 0:11.5 | Let's start leveling up your marketing knowledge with |
| 0:14.0 | your instructors Neil Patel and Eric Sue. |
| 0:20.1 | Today we are going to talk about if you should use a CDP. So let me give you a high level. We've done something like this a couple years ago. |
| 0:30.0 | A CDP is a customer data platform. |
| 0:32.6 | And so there are tools out there such as Segment. |
| 0:35.6 | There's another one. |
| 0:36.2 | I met a guy that runs a company called Lexer. |
| 0:38.4 | And what a CDP does is it combines, it's a customer data platform, |
| 0:42.3 | right? It combines all the data points that you have on a |
| 0:44.2 | customer so let's say Neil I sell like socks or something like that I can see you know all the pages |
| 0:49.6 | Neil has seen on my area and then you can combine the power of all the different products that you have to speak to your customers and try to get them to convert at a higher rate. |
| 1:07.0 | The best way to think about it is it allows you to create a better personalized experience. Extreme example is I don't have a dog or a cat. If I went to Amazon and they started showing me stuff for dogs and cats, I'm not going to convert. Now again, that's an an extreme example but the same thing could be |
| 1:24.5 | said with me going to another website and them showing me I don't know toothbrushes. |
| 1:30.5 | I'm not going to buy a toothbrush when I already have I use the electric |
| 1:33.8 | toothbrushes like that's very specific I wouldn't want a manual toothbrush |
| 1:37.2 | because I prefer electric if someone knows all of this they can show you what |
| 1:41.8 | you're more likely to buy, conversions go through the roof. |
| 1:45.2 | And when I mean through the roof, I've seen a lot of companies test to this. |
| 1:49.2 | We've worked with a lot of people at my ad agency, N.P. digital Digital with this and we found that it doesn't actually |
| 1:55.2 | increase conversions by like 30, 40 percent or that most people think, but we're |
| 2:00.0 | seeing lifts like five, six, seven percent percent which doesn't seem like a lot but for us |
... |
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