For consumer businesses, customer data is the lifeblood of the business. The good news is that today, they have more data about their customers than ever before. The bad new is they also face increasingly siloed systems, mounting data complexity, and a lack of truly actionable insights. This is where Customer Data Platforms (CDPs) come in, but are they solving the real problem with the right solution? Let's explore.

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What is a Customer Data Platform (CDP)?

A CDP is a technology solution designed to collect, unify, and organize customer data from various sources. It creates a centralized hub for understanding customer behavior across touchpoints. In short, a CDP lays the foundation for data-driven marketing and customer experience strategies.

The CDP value proposition

• Data Unification: CDPs provide identity resolution, where they merge first, second and third-party data to provide a comprehensive 360-degree view of each customer.
• Event Tracking: CDPs provide a standardized, low-code method for capturing customer actions and behavior across all touchpoints.
• Reverse ETL: CDPs activate data from a data warehouse and sync to any downstream tool, system, or application.

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Competitive analysis

Here's a breakdown of some leading CDPs, outlining their features, pricing, technical requirements, and implementation time:

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• Core features: Data collection, transformation, activation
• Engineering required: Low code to launch and ongoing use
• Target users: Data, engineering teams; Product teams require engineer support
• Data management: Requires engineering to create or modify data
• Enrichment/intelligence: Identity resolution & event tracking

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• Core features: Focus on data syncing to operational tools
• Engineering required: Low code to launch and ongoing use; SQL or BI tool required for each source
• Target users: Data, engineering; Marketing teams require engineer support‍
• Data management: Requires engineering to set up and manage; no-code solution for reverse ETL
• ‍Enrichment/intelligence: Identity resolution & event tracking

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• Core features: Tag management, advanced audience creation‍
• Engineering required: Low code to launch and ongoing use
• ‍Target users: Data, engineering teams; Product teams require engineer support
• Data management: Requires engineering to create or modify data‍
• Enrichment/intelligence: Identity resolution & event tracking

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• Core features: Identity resolution, predictive analytics‍
• Engineering required: High code to launch, low for ongoing use
• Target users: Data, engineering teams
• Data management: Requires engineering to create or modify data
• Enrichment / intelligence: Identity resolution & event tracking

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Important Considerations:

• Cost: CDPs can have substantial upfront and ongoing costs. Pricing models often depend on factors like data volume and feature usage.
• Technical expertise: Implementing and maintaining a CDP typically requires significant engineering resources.
• Time to value: The complex setup and integration process of CDPs can lead to a longer time before you see tangible results.

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The ModernLTV difference

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ModernLTV: A unified customer intelligence engine

Like CDPs, ModernLTV unifies your customer data and syncs to your destination through reverse ETL. What differentiates ModernLTV is HOW we unify and activate customer data on either end of the workflow and the functionality we enable in between. As a unified customer intelligence engine, ModernLTV is purpose-built to provide all teams with no-code tools to turn customer data into new customer attributes, advanced segments, and predictive insights. By unifying your customer data to a single, universal customer data model, ModernLTV offers functionality that traditional or composable CDPs cannot. Further, ModernLTV is dedicated to and priced for small and medium consumer businesses and designed to give business teams end-to-end control to build and deploy customer intelligence.

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Here are the three things that set us apart:

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No-code features

Build unlimited customer attributes, advanced segments, and predictive insights with zero code.

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Turnkey AI integrations

Build & deploy leading AI/ML and predictive models in minutes using one of our native integrations.

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Tech stack agnostic

Connect any existing database, data warehouse, or application without impacting your existing workflows.

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