SWARTHMORE, PA, U.S.A., 8-Aug-2019 — /EuropaWire/ — The Customer Data Platform Industry continued its rapid growth in the first half of 2019, according to the CDP Institute’s semi-annual Industry Update. The industry added nineteen vendors and raised $317 million in new capital during the period while employment was up 71% over the previous year.
Major shifts in the market included expansion in Europe, EMEA, and APAC. Fifteen of the nineteen new CDP vendors are from outside the U.S. The Institute also confirmed its projection for the CDP industry to reach the $1 billion revenue in 2019.
Other milestones the report were:
- More Funding. Cumulative funding for the industry grew by $680 million, reflecting funding during the period plus previous funding for vendors just entering the industry.
- Strategic acquisitions. The period saw two CDP acquisitions: data integration specialist Allsight by Informatica and B2B CDP Lattice Engines by Dun & Bradstreet. Neither buyer is primarily a marketing system vendor, illustrating the value that companies in related sectors now see in CDP functions.
- Operational CDPs. The period also saw addition of three vendors with a primarily operational focus: two customer success systems (Gainsight and Totango) and one in healthcare (Healthgrades). These firms represent the leading edge of a new class of CDP vendors that is expected to grow rapidly.
- Marketing Cloud entrants. Salesforce, Adobe, and Oracle all announced future CDP products that are expected to be available before the end of 2019. These attracted new attention and are expected to substantially expand CDP awareness and adoption.
The CDP Institute report groups CDP vendors into three categories based on the functions provided by their systems. Categories are:
- Access. These systems gather customer data from source systems, link data to customer identities, and store the results in a persistent database available to external systems. This is the minimum set of functions required to meet the definition of a CDP.
- Analytics. These systems provide data assembly plus analytical applications. The applications always include customer segmentation and sometimes extend to machine learning, predictive modeling, revenue attribution, and journey mapping. These systems often automate the distribution of segment lists to marketing automation or advanced analytics products.
- Campaigns. These systems provide data assembly, analytics, and customer treatments. These treatments may be personalized messages, real time interactions, product or content recommendations, outbound marketing campaigns, customer journey orchestration, or other contacts. What distinguishes them from segmentation is they also specify the message to be delivered.
SWARTHMORE, PA, 30-May-2019 — /EPR INTERNET NEWS/ — Business marketers are catching up with consumer marketers in Customer Data Platform deployments, according to a global member survey released today by the Customer Data Platform Institute.
The survey found that 41% of companies selling to consumers are in the process of deploying a CDP, compared with just 19% of companies selling to business. But 34% of the B2B companies plan to start deployment within the next twelve months, compared to only 19% of consumer brands.
Other survey finding suggest the change is coming just in time:
- Business marketers are more likely than consumer marketers to rely on CRM or marketing automation systems to unify their customer data (22% vs 8%).
- Business marketers using CRM or marketing automation in this way have below-average satisfaction with their martech investments.
- CDP users have higher satisfaction than non-users among both business and consumer marketers.
Other survey findings include:
- consumer marketers have more fragmented data than B2B marketers, with 62% reporting many disconnected systems compared with 48% of B2B marketers.
- inability to assemble unified customer data is the most-cited obstacle to using customer data well, listed by 63% of respondents compared with incapable delivery systems (54%) or inaccessible source data (47%).
- a unified customer view is the most important CDP benefit, listed by 86% of respondents. Many fewer cited applications such as predictive modeling (59%), message selection (49%) or cross-channel orchestration (49%).
- companies with a specialized martech manager or staff are more satisfied with their marketing technology results than firms where marketing technology is run by a central IT department or left to individual groups within marketing.
A free copy of the complete report is available at https://lp.cdpinstitute.venntive.com/DL2066-CDPI-Industry-Survey-2019
SAN JOSE, CA, USA, 4-Apr-2019 — /EuropaWire/ — The Customer Data Platform Institute today launched RealCDP, a program to reduce the confusion plaguing the Customer Data Platform industry. RealCDP has two components:
- RealCDP certification, a five point checklist of core capabilities needed to build a unified, sharable customer database.
- CDPFinder templates and vendor information to help buyers find the right CDP for their needs
“The CDP industry faces two challenges,” said CDP Institute Founder David Raab. “First, many firms offering a CDP or CDP alternative fail to build the complete, shareable customer database that is the heart of the CDP concept. Second, legitimate CDPs vary hugely in the additional features they provide, leaving buyers confused by the range of options. These two programs address each challenge separately and, taken together, we hope they will make it easier for buyers to find the products they truly need – and avoid alternatives that will leave them disappointed.”