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Is Your Customer Data Platform a Lever for New Sources of Revenue Growth?

This article is part 1 of a 3 part series. Read the rest of the articles here.

Customer data has become the new currency for many businesses in today’s cookieless world—but not everyone has learned to monetize it to the fullest extent. Companies across industries from retail to travel to consumer goods are capturing first-party data on customers and prospects to improve marketing efforts, deliver personalized content, drive supply chain efficiency and accelerate business growth. But the potential for driving revenue doesn’t end there.

Business leaders are exploring the exponential potential of data monetization through a customer data platform (CDP). Companies that capture first-party data in a CDP can create robust and relevant data sets that they use for their own purposes, but they can also drive revenue by sharing these assets with others.  

Sharing reliable and trusted first-party data to advertisers, publishers and partners can turn customer data into business opportunities. The more data a business has from point-of-sale transactions, internet traffic and media impressions, the greater chance it has to get closer to customers with targeted campaigns and better yet, new products and services.

Use Case: From Product Provider to Media Platform

Publicis Sapient worked with an entertainment brand to create a flexible CDP that captured data about customers’ purchasing histories, POS transactions and more in a manner compliant with regulatory guidelines. Using the CDP as a foundation, the business now offers this valuable data to vendors looking to create hyper-optimized campaigns based on actual buying behavior across a national network of physical and digital outlets.

This data comes back to our client, enriching their understanding of customers from interactions with other advertisers and publishers.

For its own part, the business is launching new experience-based marketing campaigns that combine multiple related products, saving time and money by making data-driven product and supply chain decisions.

This brand has now transformed its traditional entertainment offerings into a high-value and high-margin advertising platform.

CDP Use Case: Customer Data Monetization Watch again | loading video duration...

How CDP is at the heart of new sources of revenue by gaining access to new customers all in a privacy-compliant manner.

Start Turning Data into Dollars

Once you bring data together in a compliant way in a CDP, you can monetize the data for your own business through inventory optimization and targeted campaigns. The CDP becomes your own advertising platform that complements your brand.

After establishing this capability, open it up to publishers and partners to opt in. Anyone who has an audience can monetize your first-party data. Your partners win by capturing more value from advertising, getting more people in the door at stores, and finding new ways to create customer-centric experiences. The revenue opportunities created through these partnerships can even cover the cost of establishing the CDP itself.

Start putting your high-quality data to work for you today through a CDP.

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Raymond Velez
Raymond Velez
Global Chief Technology Officer