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Can CDPs Really Enable IT-Independent Marketers? 5 Perspectives for CMOs

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As customer data platforms (CDPs) evolve from technical, database-focused solutions to data-fueled customer experience enablement platforms, vendors have increasingly focussed their messaging on CDP-enabled outcomes: seamless omni-channel brand experiences, higher retention rates, better ROI. One prominent message has been around the ease of use for marketers â the primary users of a CDP. âA CDP should enable near-100% independence from IT by allowing business teams to perform tasks that previously required IT, such as advanced segmentation, attribute creation, predictive model usage and data activation,â said James Meyers, head of martech strategy at ActionIQ, a CDP vendor that has been stressing the importance of a marketer-friendly UI to enable more independence. ....

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Customer Data Platform Industry to Reach $1.5 Billion in 2021: CDP Institute Report

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MILFORD, Conn., Feb. 4, 2021 /PRNewswire/ Customer Data Platforms (CDPs) are increasingly embedded inside of larger systems, according to the CDP Institute s latest Industry Update report. The semi-annual report found that ten of the 13 vendors entering the industry in the second half of 2020 provide campaign management or message delivery services in addition to the core CDP function of creating unified customer profiles. Such firms now account for 70% of the 133 CDP vendors identified in the report and 71% of industry employment.
Despite this trend, there is also strong demand for CDPs that provide only data management and analytics. Such firms actually grew the fastest of all CDPs types during the report period. ....

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Should You Invest in a CDP or a CRM for Enhancing the Customer Experience?

Many brands are revisiting their customer experience initiatives, and are looking into investing in either a customer data platform (CDP) or customer relationship management (CRM) platform. The question is, what are the basic functions of CDPs and CRMs, which would serve a brand better for improving the customer experience, and why?
The Primary Function of a CDP
A Customer Data Platform is a software package that is used to unify transactional, demographic, and behavioral data from all of a brandâs channels, all of which are used to create a persistent, single-person view of each customer. It then makes the customer data available to other systems so it can be used for marketing, personalization, customer service, sales, and customer experience initiatives. ....

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