Understand the Difference between CRM and CDP
Find out the specific uses of CRM and CDP systems. While both systems are focused on the customer, each is quite different. In this article, you will find the main characteristics of CRM and CDP and a practical tip at the end that can significantly affect your sales, increase your revenues, and reduce costs.
THE BASICS OF CRM
Customer Relationship Management (CRM) is a system that works with identified customers only. The goal of CRM is to build strong relationships with customers.
CRM is basically focused on building, maintaining, and improving long-term relationships with your customers across the whole customer lifecycle. It records data of customers, such as email, telephone, or activity on a website, and pulls them together to give you a comprehensive view of individuals.
CRM helps businesses track and analyze customer interaction, but it usually relies on manual work in the system, which means that it can only work with customer data you had manually filled in. The customer’s data is available to everyone, from the sales team to the customer service.
GET TO KNOW THE CDP
Customer Data Platform (CDP) is able to work with databases of millions of customers and automatically collect customer data in real-time from online and offline sources. Thanks to that, you get a 360-degree view of your customers.
This platform is designed to integrate with every system, gather data from any interaction with the customer, keep and analyze every piece of information, and provide recommendations that are established on data from every part of the customer journey.
This makes CDP the perfect source from where your store, POS systems, or kiosks can get comprehensive customer information. Your customers get personalized offers they will love in turn.
WHY CHOOSE ONE WHEN YOU CAN HAVE BOTH
That would be the basics of CRM and CDP – what they are suitable for and how they can involve your relationship with your customer. These days, businesses use at least one of the systems or both. When a company operates with CDP and CRM, it usually means that they use two different platforms (one that is aimed at CRM and one aimed at CDP). But the problem is that you need to integrate these two systems together, which is quite expensive. We have a solution!
Join the CareCloud platform that offers CRM and CDP at the same time. CareCloud allows you to use a wide range of features, like filtering customers and assigning them into segments, designing automatic workflows that are limited only by your imagination, or sending personalized campaigns to customers. Make the most of your time – learn what your customers want, increase the productivity of your employees, and reduce your cost.
Visit the CareCloud website here to learn more.
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