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What’s the Difference Between a CDP and Personalization Engine?

Companies across the world today have invested billions of dollars in CDP (Customer Data Platform) companies. There are significant differences between CDP platforms and personalization engines.

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Companies across the world today have invested billions of dollars in CDP (Customer Data Platform) companies.

This giant leaps forward from the days when data was no doubt available, but it was arranged in silos. Humongous volumes of data flowed in but from various streams and channels, making it fragmented and discrete.

Interpreting coherent patterns and discerning the connections was something that seemed to be a distant dream.

There are significant differences between CDP platforms and personalization engines. As a business owner, marketing professional or data analyst, it’s strategic to know the difference between a CDP and a Personalization Engine.

1. What Kind of Customer Data Do Businesses Need?

The principle of Know Your Customer is older than we think!

There is evidence that more than 20,000 years ago, the natives of certain islands in Papua New Guinea traded in a special kind of obsidian knife. These natives lived on islands that had large deposits of natural obsidian. They were able to successfully market their wares in their immediate vicinity and distant shores.

The principles of marketing, whether it’s obsidian knives or a mobile app, remain the same.

  • Who are the buyers?
  • What are their needs?
  • What is their location?
  • What are they willing to pay?
  • How can I make them buy more?

As this knowledge evolved, alongside, several other learnings also happened.

Traders in ancient times figured out that it’s way more economical and easy to nurture existing customers rather than look for new ones. They began to pay more attention to what customers bought, when and where along the trade routes to satisfy their existing customers.

How to Use SMS Marketing to Grow Your Business

In time, accounting records began to be kept about how much was purchased, at what price and when.

This information may well have been shared and stored.

Today, though the principles remain the same, data collection, storage and interpretation methods have undergone enormous changes.

Data science, market segmentation, cloud storage, algorithms, analytics, behavioural marketing, personalization, customer data platforms, personalization, data lakes, data warehouses and more have made their entry. As new devices, technology and new ways of buying and selling evolved, data itself have undergone a metamorphosis.

Data could be stored from relational and non-relational sources, business applications, social media, and mobile apps.

This helped to improve and channelize customer relations interactions more effectively.

Today, business owners have access to a constant flood of data. The important thing is knowing how to leverage this data.

2. What Is CDP?

The Customer Data Platform Institute was set up by David Raab, a marketing technology expert and independent consultant. It provides vendor-neutral information about issues, methods and technology in the field of customer data management.

The institute defines CDP as “a marketer-managed system that creates a persistent, unified database that is accessible to other systems.”

Today’s customer requires a consistent UX across different channels and devices with their preferred brands. If customer data exists in separate silos with the business, this data cannot be aggregated, integrated and analyzed holistically. It cannot provide the whole truth about every customer.

Today, CDP software platforms are a $1 billion industry. CDP helps businesses to add context, predict and provide the following best action. It helps to link cross-channel information that can be used to cross-sell and up-sell. It also helps identify, locate and address pain points and areas of friction in the customer journey.

This can then be used to adjust marketing strategies with data-backed insight to chart a clear roadmap for marketing strategy. CDP helps businesses to recognize significant and influential moments that define the relationship with their customer.

However, as CDP evolves, it also has to consider the customer’s privacy concerns and consent management.

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3. What Is A Personalization Engine?

Personalization engines (PE) help businesses to connect and interact with individual customers. They collect and collate data from different sources to enhance and create a unique and utterly personal UX for that particular customer.

They can interact with customers through digital channels to provide business-related information, content, offers and discounts. PE’s help maintains a consistent and regular flow of information through AI, machine learning, AB testing, and linking cookies across devices. They help to tailor or curate UX, marketing efforts and websites with customer recommendations and reviews.

Personalization engines are highly intuitive platforms that offer dynamic content and responsive support.

4. What Is The Difference?

CDP offers customer data that is segmented and organized to create patterns. However, personalization engines take this one step further to develop and implement unique journey management and to orchestrate genuinely personalized experiences.

CDP helps to establish POS integration so that customer-related data and inventory information are synced. Personalization engines are more focused on ensuring that the customer experience is valuable, memorable and mutually satisfying.

Personalization engines enable the creation and delivery of uniquely personalized experiences across different and multiple channels simultaneously. They are also interaction management solutions and help businesses to achieve one-on-one engagement with every single customer. This eliminates the speculation and guesswork of what the customer is looking for.

With personalization engines, the business can automatically predict and deliver the right shopping/service experience. This can be in real-time, and every time, to the customer. Personalization engines and CDP can be used alongside each other for the best outcomes.

Both this software can be used to accelerate the pipeline. They can also help to boost revenue models by providing every website visitor/customer with the right products, marketing messages, content and usable information.

Both platforms help e-Commerce teams to become more mindful, insightful, personal and more effective. Business leaders can make better business decisions. This means they can tailor their marketing campaigns and initiatives to be more targeted and focused on the individual customer. This also means that the business can be supported across products, services, brands, geographies, domains and websites.

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Business

Top 5 Tech Blog Earnings That Will Amaze You

Blogging requires minimal business investment and is often started of passion. These top 5 tech bloggers teach us how to make money out of blogging.

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Rules to Fictional Blogging - TwinzTech Blog

Blogging has now branched into different variants like traditional blogging, third-party platform blogging, and social media micro-blogging.

To stay in the present, people from different walks of life are indulging in tech blogs. We have analyzed the top 5 tech blogs’ key success points to motivate more tech bloggers.

Top-Earning Tech Blogs that are Worth your Time

Blogging requires minimal business investment and is often started of passion. These top 5 tech bloggers teach us how to make money out of blogging. With so many successful tech bloggers across the globe, the downsides of blogging are hard to find.

1. Engadget

Earnings per year – $47.5 million

Engadget publishes content on a vast range of relevant tech topics. You will find content on robotics, wearables, search engines, smartphone games, and whatnot!

Founded by Peter Rojas (a former editor of Gizmodo) in 2004, Engadget has estimated annual earnings of $47.5 million, making it to the top of the tech blog posts table. Peter Rojas, however, left Engadget in 2008. AOL acquired Engadget in 2011, and the famous Verizon Media currently owns it.

Engadget uses affiliate links within its product reviews as a monetization option. You will find these links as a call-to-action button labelled as ‘Buy Now. The main navigation of Engadget’s product reviews gives due prominence to affiliate revenue-generating links.

2. Wired

Earnings per year – $30.7 million

Launched by Louis Rossetto and Jane Metcalfe, Wired is currently owned by Condé Nast. Wired.com was formerly known as HotWired and Wired News. It was founded in October 1993 and later split into a magazine and website in the late ’90s.

Lycos bought the website, which Condé Nast later purchased on July 11, 2006. To do away with the declining profits, the two branches were again reunited.

Wired.com (the website) is paywalled, which requires users to make a payment for accessing more than four articles each month.

Wired hosts various technology blog content on new products, tech businesses, video games, cameras, security, and the like. The website uses affiliate links and other commercial revenue-generating tools to boost its earnings.

This website is ideal for tech professionals looking for the latest gadgets, reviews, or tech discoveries.

Top 5 Tech Blog Earnings That Will Amaze You

3. Mashable

Earnings per year – $30 million

Founded by Pete Cashmore in 2005, Mashable is a tech and media blog. Pete Cashmore is a web consultant aged just 19-years from Aberdeen.

Mashable covers a broad spectrum of tech topics. This blog has learned what commercial revenue generation method works the best for itself. Mashable teaches fellow bloggers to add elements that drive revenue in their blogs.

Mashable Deals is the monetization section of this blog post that features reviews, deals, product roundups, links, and several other commercial contents.

Mashable is regarded as one of the most influential tech blogs on the internet now! If you want to catch up with everything happening in the tech world, then Mashable is your go-to site.

4. TechCrunch

Earnings per year – $22.5 million

Founded by Keith Tears and Micheal Arrington, TechCrunch has estimated annual earnings of $22.5 million. TechCrunch received global recognition owing to its advanced tech content and blogs. If you want genuine reviews of tech products, then you must check out TechCrunch.

TechCrunch focuses primarily on global tech giants like Uber, Amazon, Alphabet, and other such companies. TechCrunch is currently edited and owned by Mathew Panzarino.

You will also find many articles related to reviews on the latest tech products, news on tech discoveries, pricing of the latest gadgets, and content on new gadget developments.

TechCrunch ran a famous database, Crunchbase, between the period of 2007 to 2015. However, Crunchbase has a separate entity now.

5. Gizmodo

Earnings per year – $4.8 million

Founded by Peter Rojas in 2002, Gizmodo is a popular tech blog. Gizmodo also covers the content on design, sci-fi, and science. This online platform serves various parts of the world, including the UK, Brazil, and Japan.

Gizmodo is currently owned by the G/O Media and is edited by John Biggs. Gizmodo offers stiff competition to the top tech blog platforms like Engadget.

It provides in-depth reviews on the latest gadgets, smartphone designs, and laptops. Gizmodo uses sponsor ads to monetize its blog posts. It has an estimated visit of 22 million per month with a domain authority of 93.

Closing Thoughts

The primary source of revenue for most tech bloggers is direct advertisements and affiliate links. Technology-related blogs drive a vast audience base which further boosts their income.

Moreover, tech reviews allow tech bloggers to add affiliate links as CTA buttons. You can go through these top 5 tech blogs to learn how to commercialize your tech blogs.

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