Organizations seeking to invest in a customer data platform face a strategic decision: Build a CDP in-house, or buy it? To make an informed choice, marketing leaders should assess their business strategy, available resources, marketing capabilities and time-to-market requirements.
- Determine If Your Brand Will Differentiate on CDP Capabilities
- Question No. 1: What Is Your Brand's Historical Preference Toward Building Versus Buying New Technologies?
- Question No. 2: Can a Third Party Supply Greater Than 80% of the CDP Capabilities You Need?
- Question No. 3: Does Your Brand Operate in a Mature Industry?
- Question No. 4: Does Your Company Push Technical Boundaries at a Rate Where a Third Party Couldn't Match Your Pace of Innovation?
- Assess Your Resources and Maturity Relative to CDP Development
- Determine Team Skills and Maturity
- Evaluate Your Budget Profile
- Assess the Strength of Internal Partnerships (Especially With IT)
- Determine the Urgency of Your CDP Deployment
- Measure Performance Gaps
- Assess Whether Stopgap Solutions Can Buy You Time to Build
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