A CDP platform can support a wide range of use cases across various industry verticals. However, brands need to evaluate and prioritize their use cases and choose a CDP vendor that can support their organization-specific use cases to impact their business positively. Technological advancements have made it possible for modern CDPs to leverage AI / ML technologies to capture comprehensive customer data, intelligently and dynamically segment audiences, create predictive scoring models, anticipate customer behavior, and assist brands in launching hyper-personalized marketing campaigns by offering enhanced customer insights.
The ongoing COVID 19 pandemic and ensuing lockdowns have led marketers to rethink their marketing strategies, considering the change in customer behavior and preferences. Brands have witnessed an exponential rise in customer data at the onset of the pandemic as an increasing number of customers are engaging with brands across multiple new channels, online portals, apps, etc. Brands have realized that reengaging with the customers based on this new data is the way to sustain during these times of economic uncertainty. While marketers are reformulating their marketing strategies, CDP has become an integral part of their digital engagement strategies.
This Market Insight delves into how Customer Data Platforms (CDPs) are Catering to Advanced Use Cases. Further, this Market Insight will highlight:
- Importance of use cases while selecting and implementing a CDP
- What are the ongoing CDP enhancements to support emerging use cases amid the pandemic?
- How AI/ML-powered CDPs can support advanced use cases
According to Shruti Jadhav, Associate Research Director at Quadrant Knowledge Solutions, “While the primary use cases for CDP include data collection, unified customer profile, real-time personalization, predictive customer segmentation to deliver smart campaign orchestrations, behavioral orchestrations, and more, CDP vendors are investing in enhancing their platforms to support organizations with their emerging technical, marketing, and business use cases, especially for sustainment during the pandemic.”
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