BOSTON, Sept. 17, 2019 /PRNewswire/ -- The Relevancy Group, a leading market research and advisory firm, today released "The Relevancy Ring 2019 Customer Data Platform (CDP) Buyer's Guide." Leveraging their proprietary combination of customer (user) feedback with a multi-analyst assessment approach. The 2019 CDP guide provides a quantifiable measurement of eight leading enterprise-class Customer Data Platform Providers (CDPs) including ActionIQ, BlueConic, Ignition One, Lytics, RedPoint Global, Tealium, Arm Treasure Data and Zylotech. Findings indicate nearly a 50% adoption of CDP's, within the past 12 months, with an additional 35% of Companies looking to activate a CDP within the next 12 months.
"The CDP category is exploding," shares James McDermott, CEO and co-founder of Lytics. "We're seeing marketers adopting CDPs across a broad spectrum of industries. This rapid adoption is accelerating as companies prove the value of a CDP in impacting revenue goals."
The 2019 Relevancy Ring CDP Buyers Guide combines data from an August 2019 executive survey of 402 executive marketers, and documented CDP demos. Additionally, the guide contains information from vendor questionnaires, two-decades of TRG's knowledge of the providers in this sector, one-on-one phone interviews with several of the marketers who use these tools, and an analysis of the 2019 results and compared against a similar guide produced in 2018. The growth in the industry, changes in the landscape, and maturation of CDP product offerings are notable.
"In an increasingly crowded marketplace, having a firm like The Relevancy Group clarify what are core components of an enterprise-level CDP is critical for marketers trying to differentiate by how they engage consumers," said John Nash, Chief Marketing and Strategy Officer for RedPoint Global. "As the market matures, we will see deeper divides between those technology platforms that help brands drive breakthrough revenue growth, and those that do not. For those brands that want to deliver personalization at scale, utilizing real-time data, automated machine learning, and intelligent orchestration across all touchpoints become key to success."
The finding show that real-time targeting and personalization rank among the top 5 desired results when implementing a CDP. Other 2019 Relevancy Ring Buyers Guide highlights include:
"While still a relatively new tool for Companies to leverage, the maturity levels of CDP technology is happening at a rapid pace," said Nicholas Einstein, Chief Research Officer, The Relevancy Group. "More CDP providers are entering the market, and, of those in the space, product development and growth is being seen in key areas including; data accessibility, AI and machine learning and customer journey mapping. It's exciting to watch the evolution of this technology, and know it is driving tangible results for every business."
"Marketers have been stumped on how to make full use of their data to deliver effective personalization. Many CDPs promise to make that happen. What marketers need to remember is that data is just the beginning of an engagement strategy," said Will Margiloff, CEO, IgnitionOne. "You have centralized data – what about insights? Are your insights specific to unique customers? Can you use those insights to personalize engagements in real-time, across both marketing AND advertising channels? Are you assessing omnichannel performance? A best-in-breed CDP should help marketers do all these things."
"The rapid speed of adoption of CDP's and powerful advances in their technology have enabled marketers and businesses to meet a new level of customer experience not possible even 3 years ago," added Nicholas Einstein, Principal Analyst at The Relevancy Group. "As customer expectations for real-time everything continue to rise, the value of the CDP will continue to move from an added benefit to critical foundational element of the Marketing and Technology stack. The flexibility of the API's for current and future data sources, cloud-supported technology and AI create a powerful combination that will ensure this technology never becomes outdated."
The Relevancy Group will host a free webinar on September 18th, 1:00 EST which will cover highlights from the report, including market trends, marketer aspirations, challenges, and the most important features as well as considerations when selecting a CDP. You can register for the webinar here: https://attendee.gotowebinar.com/register/3612151184990517251?source=TRG.
The 2019 CDP buyers guide is available for purchase at $2495.00 and is included in The Relevancy Group's Relevancy.AI Research Subscriber Series.
An excerpt of the research is also included in the forthcoming issue 2X of The Marketer Quarterly, the digital magazine, and app for marketers by marketers. Register to get a free subscription to The Marketer Quarterly online or via the MQ app for any iOS, Android, and Amazon.
About The Relevancy Group
Founded in 2010 and led by tenured industry analyst and marketer David Daniels, The Relevancy Group (TRG) provides market research and advisory services. Our tenured team are trusted advisors to leading technology vendors and familiar brands. The Relevancy Group delivers a series of original research, custom research, lead generation and advisory services. Our Relevancy Ring Buyer's guides are highly sought after and have been proven to help marketers and vendors alike. We also publish the digital magazine for marketers by marketers, The Marketer Quarterly (http://www.marketerquarterly.com/). Free with registration online, and through the MQ apps (http://www.marketerquarterly.com/blog/introducing-the-marketer-quarterly-apps) on iTunes, Google Play and Amazon. Follow @TMQ_Magazine (https://twitter.com/TMQ_Magazine)
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