The importance of a 360-degree customer view is well known. The customer profile that includes historical, demographic and real-time dates samenvallen, bepaalt de kwaliteit van de customer experience. Hoewel iedereen het daarover eens is, blijven er toch nog veel kansen liggen. Doordat customer data nog vaak versnipperd zijn opgeslagen. CDP-technologie zorgt voor grip en inzicht. De industrie die zich op deze technologie toelegt blijft opschalen en innoveren. Wat zijn de meest opmerkelijke CDP trends of 2021? We figured it out.
Customer data is entering your business through a growing variety of channels. Your own Ecommerce platform is the most important goldmine. However, all sorts of things happen around it. Think about customer behaviour on social media, customer contacts via call and client contact centres, information from digital cash register systems in physical stores, interactive marketing campaigns, and so on.
Not if but when and how
Especially now that the corona pandemic is affecting even the most inveterate bricks forces to clicks Knowing the customer is more urgent than ever. Centralizing, optimizing and providing access to customer data is of vital importance to prevent that the customer journey is insufficiently aligned with the wishes and experience of customers. The question is not so much if you integrate CDP technology in your operations, but when you do so and what choices you make.
The current CDP trends indicate that solutions are becoming more affordable, accessible and specific. So with the acceleration of all imaginable digitization processes in response to covid-19, the momentum is also there for you as a Ecommerce or omnichannel entrepreneur to get serious about your customer data flows. Are you about to launch a new platform or are you considering a replatforming operation? Then take customer data management features seriously into account in your platform selection. Indeed, there are Ecommerce solutions that incorporate the CDP technology.
International CDP trends
The fact that CDP technology is becoming more accessible and affordable has a lot to do with the international CDP trends that are currently taking place. The market of CDP providers is shifting rapidly and competition is fierce. On the one hand, this is fueling innovation, but on the other hand, competition on price and service models is also increasing. This is beneficial for Ecommerce initiatives and makes compare solutions more interesting and lucrative.
5 CDP trends in the market
1. Scale-up
The international market of CDP vendors is subject to many takeovers and mergers. Especially larger CRM vendors seem interested in acquiring existing CDP technology. Larger cloud providers are also making inroads. CDP-niche players will increasingly be owned by larger Tech companies in the coming years.
2. Focus on Customer Experience
CDP solutions are primarily intended for centralizing customer data and making it accessible. As a user, CDP technology improves the ability to create 360-degree customer profiles in order to optimize the customer journey. That's why CDP platforms are also called CXP ( Customer Experience Platforms ). One of the current CDP trends is that the technology will also offer more support in the executive sense. Think about features for personalization and campaign automation.
3. IT integration
CDP technology will increasingly merge with information technology (IT). Think of the creation of data silos and combining known and anonymous customer data. Interaction with increasingly digitized business processes is obvious. A CDP solution becomes the central place to store all customer related data. Using modern communication layers (APIs), surrounding systems can be linked quite easily.
4. Space for AI and ML
In the further development of CDP technologies, much attention is paid to the application of artificial intelligence (AI) and machine learning (ML). Data-driven prediction tools will become more accessible and the management of growing amounts of customer data will become easier. Also, Prebuilt Predictive Models are increasingly used, built on historical data to more easily create customer segments.
5. Most important of CDP trends - > Privacy first
On the one hand, various studies show that customers like to shop online with providers that offer a personalized customer experience. On the other hand, privacy regulations are being tightened up all over the world. Data processing and the handling of national and international privacy legislation will remain high on the agenda in the CDP industry in the coming years.
As mentioned before, investing in CDP technology is not a question of if, but of when and how. Customer data is the fuel for the optimal customer journey that ensures maximum conversion. The offering is broad and diverse; the service concepts idem ditto. Comparison facilitates decision-making. Moreover, our team is ready for a additional opinion.
