How to Determine the Right CDP for Companies

How to Determine the Right CDP for Companies

You know a customer data platform (CDP) can help but with all the options available, how do you determine which one is right for your company? It’s time to get a better handle on your customer data and create that 360-degree view of the customer that will help you improve experiences across the customer lifecycle. You know a customer data platform (CDP) can help but with all the options available, How to determine the right CDP for Companies?

We’re Awash With CDP Options - The marketing technology landscape and the CDP industry, in particular, are growing like dandelions in summer. Companies have never had more options in selecting the right CDP technology to support their requirements. That’s an increase of 24 percent over the last two years and a whopping 5,233 percent over the last ten years. It’s no wonder companies feel overwhelmed when trying to select any marketing technology.

Define Your Overall Goals and Objectives - To know what type of customer data platform you need, you must define your goals and objectives clearly. Start with defining your short-term and long-term strategies for delivering customer experiences. According to the CDP Institute, the CDP market has increased 19 percent from 2021, with projected revenue expected to reach $1.9 billion. How can a CDP help you create these experiences, and what technologies will it need to integrate with to do that?

The CDP industry itself has grown significantly. Knowing you have to select a CDP from 152 vendors may make you question how you could choose and choose well. There are a lot of CDP vendors out there, but they aren’t all identical.

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