There are a lot of ways to measure the growth of customer data platforms (CDP): search terms, revenue, new customers, and media and analyst mentions, to name a few.
At BlueConic, we can see the CDP industry and market growth when we look at the quarter-over-quarter increases in revenue, customers, renewals, and inbound leads.
Qualitatively, we’ve observed how the nature of the conversations taking place about CDPs is far more sophisticated, with better informed marketers asking incisive questions about their customer data needs and how to solve them.
Perhaps the best indicator of all these measures rolled into one is the explosion of requests for proposal and information (RFPs and RFIs) that we receive from brands.
These requests tell us few things:
- Marketers are strategically and exhaustively defining requirements for their customer data and actively seeking partners to meet these unique needs, rather than trying to retrofit existing solutions.
- A common set of criteria exist (detailed below), but application of the data varies considerably across customers.
- A CDP isn’t just a nice-to-have that marketers bolt onto their budget when they have extra money lying around.
- Senior decision-makers are driving the CDP purchase process even though they do not often end up being the primary user(s) of the platform.
Despite all these measures and signs of the customer data platform’s upward trajectory, we’re still in the early days.
As a marketer, you may be eager to add a CDP to your marketing tech stack but don’t have the resources or institutional knowledge in house to start from scratch.
So, we’d like to help with our Customer Data Platform Buying Guide & Toolkit, which includes:
- A list of really smart people who are experts in this space and are worth talking to
- Resources from around the industry you should definitely read up on
- An RFP outline with some key categories and sample evaluation
- Suggested use-cases for demos (for you to customize to your business, of course!)
Check out the entire CDP toolkit and get well on your way to finding the most beneficial customer data platform for your organization and use cases.