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As customer data platforms evolve, there are indications that more marketing organizations are adopting them. They can see that the CDP field is maturing, with major launches like those from SAP and Salesforce last October. Overall, according to one study, the global market for CDPs could climb from $2.4 billion in 2020, up to $10.3 billion in 2025.
Still, the disruption associated with implementing a CDP can lead to hesitation. A survey by the CDP Institute showed CDP deployment at 29% last year (these were members of the Institute, so the numbers are likely inflated), up from 19% in 2017.
With an increasing number of options, and added machine learning and AI capabilities, there’s good reason to expect more organizations will be implementing a CDP solution. Here are some important considerations to help make the process of implementation seamless and profitable.
Is now the right time?
To remain competitive and efficient, a source of unified customer data is necessary. The same CDP Institute survey above shows that regardless of whether marketers are using older marketing automation or CRM systems, or new shiny CDPs, the move to unified customer data rose above 50% in 2020, after remaining steady at 15-20% for several years.
If a marketing ops team is already considering a move to unified customer data, they should consider CDPs as an option.
Justin Sharaf, VP, Marketing for digital experience platform Jahia, refers to a CDP as “the brains of the operation.” It’s designed to work with additional systems.
Read more here: https://marketingland.com/is-your-marketing-ops-team-ready-to-implement-a-new-cdp-283850