What is the difference between CDP vs DMP vs CRM? No, that’s not how you pronounce the abbreviation. These are three different types of systems used by businesses. For example, CDM stands for Customer Data Management, while CDD or CDP refers to Customer Data Platforms. CRM stands for Customer Relationship Management. So have a look at each of these systems and see which works best for your company in terms of functionality and cost!
Which is better: DMP, CDP or CRM?
DMP, CDP and CRM are three terms that you’ve probably heard a lot of in the context of marketing. In this article, they’ll break down exactly what each is, how they’re different from one another and why it’s important to know the difference in the first place.
If you’re thinking about starting your own business or are currently running a small business but want to grow it into something bigger, understanding these terms will help get your head around some of the most important pieces of technology out there: data management platforms (DMPs), customer data platforms (CDPs) and customer relationship management systems (CRMs).
What are the differences between a DMP, CDP and CRM?
A DMP is a data management platform used by companies to collect and analyze data about their customers so they can reach them with relevant, personalized messages.
A CDP is a customer data platform that collects, stores and analyzes customer information to help businesses create more effective communications strategies. CRM stands for “customer relationship management,” but the term has evolved over time to encompass all aspects of managing relationships with customers—including things like marketing automation software, which can be considered part of a CRM system. Adobe Real-Time CDP says, “CRMs are commonly used by customer service and sales representatives.”
How do you choose between a DMP, CDP or CRM?
When looking at the different platforms, you need to look at all of the following:
- Your company’s needs
- The features and capabilities of each platform
- The cost of each platform
- Ease of implementation (the ease or difficulty in setting up)
- Support provided by each platform
Is it possible to have a single platform that does it all?
Yes, it is possible to have a single platform that does it all. However, your chosen platform will depend on your business needs and the features each platform provides.
If you’re focused on demographic data and want to target people based on where they live and their interests, then it makes sense to go with a DMP.
On the other hand, if you’re looking for more behavioral data or want more detailed information about your customers (age bracket, gender), then a CRM may be a better fit.
This post has given you a better understanding of the differences between DMPs, CDPs and CRMs. As you’ve seen, each option has its pros and cons, so it’s important to consider your needs before choosing which platform is best for you or your business. If you still need to figure out which one best fits your needs, don’t worry! They will keep updating this article as new technologies emerge.
