It is still early days for a CDP in Asia. Many organizations are still at the stage of learning for themselves why options such as DMP (Data Management Platforms), Enterprise Data Warehouses, and marketing clouds won’t solve the problem that a CDP addresses. The core technologies used in Asian financial institutions can support any level of marketing sophistication that their users are ready to deploy. The early CDP adopters are touted to have an advantage over others in the industry.

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The Need for a Customer Data
Platform in the Asian Financial
Services Industry

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The Technology that has been recently
making waves in every Industry is known as
the Customer Data Platform (CDP)
A CDP is a packaged SaaS (software-as-a-service) product that is
designed to build a unified customer database for an organization.
Implementing a CDP can help achieve,
Customer
engagement
Increase loyalty Higher sales

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Personalization has become the number one
priority for marketers in the industry today
Customers in the Financial Services
industry want personalized experiences.
Customers prefer to stay loyal to a company as
long as they receive this special treatment.
*This is an example of a personalized message*

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Providing superior Customer Experience
Working within Compliance Constraints
Finding the budget to pay for solutions
Financial marketers in Asia
face the same challenges as
their peers elsewhere. Which
includes,

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The CDP industry has seen a good growth rate of around 73% over the last 12
months.
From the CDP Institute report.
 Two-thirds of the growth is
attributed to new vendors and
the remaining to existing vendors.
 The adoption rate has been high
for B2C marketers as their
businesses depend highly on
user engagement and
digital conversion.

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Few Facts on Customer Data Platform
One interesting observation is that one-third of CDP users lack
an integrated technology stack
A CDP works well when all marketing systems are
interconnected
A CDP can play a major role in developing custom
algorithms and advanced intelligent systems such as AI
A CDP can be implemented in any department that deals
with data.
CDP also enables cross-device personalization by associating
each device with the customer’s master ID when they log in

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It is still early days for a CDP in Asia. Platforms like,
DMP (Data Management Platforms), Enterprise Data Warehouses,
and marketing clouds won’t solve the problem that a CDP
addresses.
If you are a financial marketer and looking for CDP implementation,
then contact us here.
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