Why a CDP is an investment rather than a cost for your business

At White Box, we're relentless about pushing current and prospective clients to getting on top of one of their most important assets, their data.

We use the term “relentless” because we know the value of the solutions once in action. But, unfortunately, this doesn't mean there's a one size fits all approach that can be taken to uncovering this value.

Luckily, there's a solution to this dilemma:

Depending on resource availability, time, budget and a number of other factors, you may be among a team that could benefit from the use of a Customer Data Platform - a centralised platform which connects to all of your important data sources, nicely ties them together, and allows you to access best practice reports, dynamic segments and so much more.

That leads to the question of today's article, what makes a CDP an investment, rather than a cost, for your business? Here a few of the major reasons (please note, this article is referencing the UniFida Australia CDP) -

No arduous data connectivity issues

Properly set-up databases are often made up of complex networks of interacting data sources. If the users of this system are in the dark about the components, a small error in one component can bring down the whole system.

You may not have ever experienced this before, but when you do, you'll realise just how painful this can be. From attempting to diagnose the root of the issue, to reconnecting, reconfiguring and testing everything is working as it should do, this process can consume hours of your time. The UniFida CDP connects to all of your data sources from the initial set-up, and any issues or software platform changeovers can be quickly reconfigured by data experts. This means more time for you to invest in the business that really matters!

Focus on your business, not it's data

This leads nicely onto our next point. By outsourcing data processing, manipulation and insight generation processes to your CDP provider, all you need to worry about it is using those nuggets of gold generated to make impactful business decisions in real-time. No fussing over which is the most up-to-date report or who has the correct data source, your meetings will become more efficient, and result in better strategic outcomes.

Understand marketing efficiency & ROI in order to optimse your spend

The UniFida CDP has Attribution modelling built-in.

What's an Attribution model?

[Source]

In a nutshell, this model allows you to properly weight marketing activity across your whole marketing stack and attribute those activities which contribute most to sales and whatever else you're trying to achieve (more unique website visitors is another example). This means that you can uncover which parts of your marketing are performing well, which aren't, and create actions around these to drive better future performance.

Expert support to help incorporate your CDP into the broader business

The UniFida team prides itself on having a highly experienced set of founders and pillars of support in both the analytics and marketing fields. This expertise can provide an invaluable external insight into new and creative ways to use the CDP to benefit the entire business. Ultimately, we believe that a fresh pair of eyes can make a huge difference when looking at ongoing problems.

The incremental value you achieve from using a CDP will extend in many multiple directions. Think of a CDP as an investment for your business and focus on the ROI that will naturally happen.

---

White Box is a partner of UniFida Australia. Please reach out for a demo, or to inquire about pricing.

Need more convincing why hiring us as your data analytics consultant is the right choice? Check out our key services, case studies and/or reach out for a non-commitment based chat. We'd love to hear from you.

For more White Box data stories, look here or get in touch if you’d like to talk about how we might be able to help with your data strategy, reporting, business performance and anything else data related!