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Marketing School - Digital Marketing and Online Marketing Tips

Should You Use A CDP?

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Careers, Marketing, Business

4.61.4K Ratings

🗓️ 19 January 2023

⏱️ 5 minutes

🧾️ Download transcript

Summary

In episode #2341, Neil and Eric delve into whether you should use a CDP in your business or not. There are many reasons a CDP can be a positive thing for your business however, there are also factors to be taken into consideration when deciding if it is the right fit for you or not. To find out if you should consider it, press play now! TIME-STAMPED SHOW NOTES: [00:20] Today’s topic: Should You Use A CDP? [00:30] What a CDP is and what it does. [01:53] How a CDP affects your marketing and advertising.  [02:51] What CDPs are looking for and what scale do you need to have?  [03:24] How data compliance can be helpful. [03:37] When using a CDP is a positive. [03:57] That’s it for today! Don’t forget to rate, review, and subscribe to this podcast! [04:07] Go to https://www.marketingschool.io/pro to learn more!   Links Mentioned in Today’s Episode:   Leveling Up Mastermind Subscribe to our premium podcast (with tons of goodies!): https://www.marketingschool.io/pro   Leave Some Feedback:     What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review.     Connect with Us:      Neilpatel.com Quick Sprout  Growth Everywhere Single Grain Twitter @neilpatel  Twitter @ericosiu     Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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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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