Customer Data Platform (CDP) market is forecasted to reach USD 19.7 Billion by 2027, encouraging technology partners to innovate their CDP tools. We’ve gathered some of the best innovations from top CDPs in 2023.
As data becomes increasingly abundant, harnessing its power is no longer a luxury but a necessity for staying relevant in the market. CDP plays a critical role in transforming how businesses understand, engage with, and retain their customers. In fact, according to a survey, the global market value of the Customer Data Platform is forecasted to reach $19.7 billion by 2027.
Although CDP provides the necessary competitive edge, enterprises are sceptical when choosing the best CDP solution to incorporate into their marketing funnel.
To help C-suite leaders make the right decision, we have shortlisted the top 8 innovations in CDPs contributing to enhanced marketing efforts. Before unveiling the golden nuggets of these innovations, let’s explore a few things businesses need to consider while choosing a CDP solution.
Things to consider while choosing a CDP
With so many CDP players across the globe, creating a fit-to-needs checklist for your business goals is an ongoing juggle of picking suitable consideration factors. Enlisted below are a few questions you must ask yourself before picking a CDP solution:
- How well does the CDP solution fit into your technical requirements?
- Is the solution compliant and adhering to data privacy laws?
- Does it offer automated data export into the existing marketing tools?
- Can the system support real-time data streaming and batch processing to keep all channels operating with updated customer data?
A Recap of The Top 8 CDP Advancements in 2023
1. Blueshift’s Free CDP Starter for Cross-channel Engagement
Blueshift’s Free CDP Starter innovation came as an optimistic development for all the data-savvy marketers. Its recent update enables users to unify their customers’ data for cross-channel engagements in a matter of minutes.
Besides that, it features capabilities to ingest real-time events clubbed with relational data from various sources, streamlining them into unified customer profiles. For instance, it can automatically build up to 10,000 unified profiles, enabling marketers to do personalised targeting.
2. ActionIQ’s Integration with AWS Cloud to Support Precise View of Customer Profiles
As an initiative to enable a precise and comprehensive view of customer profiles, ActionIQ integrated AWS Entity Resolution into its existing identity offering solution. This solution focussed on developing data pipelines that enabled identity resolution and enrichment.
In return, it offers more flexibility to marketers, further modernising their customer data stack for enhanced and tailored user engagement.
3. Adobe’s Innovation For Precise Personalisation
Precision plays an essential role when it comes to bringing personalised experiences for end customers, and thus Adobe innovated its CDP technology. Enters the Adobe Real-Time Customer Data Platform, entailing the following key features:
- Predictive insights based on real-time customer profiles, fueling personalisation across industries
- Evaluation of real-time data of 30 trillion audience segments, enabling brands to test contents and message variations, boost conversion rates, and customer retention
4. GrowthLoop’s Collaborations for Seamless Adoption of Composable CDP
The Zero to CDP solution by GrowthLoop empowers businesses to rapidly integrate a composable CDP on their Data cloud. With a core focus on speed, flexibility, and efficiency, it’s helping organisations to seamlessly lap up the 100% potential of their customer data.
For example, its accessible data cloud integration empowers businesses to streamline their marketing goals by giving them a consolidated view of their customers’ data streaming from various sources.
Besides that, this integration comes with Generative AI capabilities, letting marketers derive AI-driven insights from target audiences without compromising accuracy and data integrity. Other features include self-serve marketing access, enabling marketers to effortlessly build audiences into their existing martech tools for data-driven marketing campaigns.
Also Read: Why are CDP and Decisioning Engines Heroes?
5. Syntasa’s Data-ready Capability For Seamless Collaboration
One of the biggest challenges that most marketers face is segmenting and reaching their target audiences with reduced time-to-value and operational costs. Here is where Syntasa’s latest data-ready innovation comes into the picture.
This innovation reduced the time-intensive process of coordinating data requests for scaling CDP projects which was initially a castle to achieve. It enables seamless collaboration between data and marketing teams to address data quality issues, further enhancing CDP operations.
6. Zeotap’s Non-Customer Entity Data Tool For Insights Beyond Traditional
In December, Zeotap launched its “Non-Customer Entity Data” feature, enabling businesses to integrate both customer and non-customer entity data with utmost ease. This transformative tool broadens the scope of data integration beyond the usual customer-centric-identifier approach, accelerating the effectiveness of marketing strategies.
Unlike other CDPs that require data to be tied directly to a user identifier, Zeotap’s recent update enables the integration of both customer and non-customer entity data. Consequently, it helps marketers to have a holistic view of a unified customer profile with rich and diverse data points for personalised targeting.
7. Capstone’s Audience-intelligent Integration with First-party Customer Data
In a world where engaging with new-in-market audiences without compromising their data is paramount for brands, Capstone introduced its audience-intelligent platform. This audience management platform enables marketers to ingest and normalise their existing customer data to craft result-driven marketing campaigns with maximum ROI.
Compared to other data platforms offering assumption-based data, it provides marketers with more certain and deterministic records of over 14 billion customers. Utilising these records, brands can create privacy-compliant and personalised campaigns that are essential for marketing efficacy.
8. Twilios’ Upgraded CDP To Club Real-time Customer Profiles for B2B Marketers
Coming as a favourable update for B2B marketers, Twilios debuted Segment B2B Edition with Linked Profiles. It groups B2B customers from similar industries in real-time, enabling marketers to create effective and relevant customer engagement materials.
For instance, it can club the LinkedIn profiles of leaders working in retail or similar industries together, allowing marketers to communicate with them in an interactive and personalised way.
Wrapping it up,
Innovative CDP tools have helped marketers for good reasons. It is deemed indispensable for businesses, shedding light on its key roles in enhancing customer experiences, optimising marketing strategies, and ultimately driving sustainable growth in the digital era.
Microsoft Dynamics 365 represents a robust cloud-based CRM solution with features such as pipeline assessment, relationship analytics, and conversational intelligence. It utilises AI-powered insights to provide actionable intelligence via predictive analytics, lead scoring, sentiment analysis, etc. Currently, Microsoft operates in 190 countries and is made up of more than 220,000 employees worldwide.
HubSpot is an inbound marketing, sales, and customer service software provider, offering robust CRM and automation solutions. Some of its products include Marketing Hub, Sales Hub, Operations Hub, Content Hub, Commerce Hub, Marketing Analytics and Dashboard Software. Guided by its inbound methodology, HubSpot enables companies to prioritise innovation and customer success.
Monday.com is a project management software company, offering a cloud-based platform that enables businesses 
Headquartered in San Mateo, California, Freshworks is a global AI-powered business software provider. Its tech stack includes a scalable and comprehensive suite for IT, customer support, sales, and marketing teams, ensuring value for immediate business impact. Its product portfolio includes Customer Service Suite, Freshdesk, Freshchat, Freshcaller, Freshsuccess, and Freshservice. Freshservice for Business Teams has helped several global organisations to enhance their operational efficiency.
Talkdesk offers an innovative AI-powered customer-centric tech stack to its global partners. The company provides generative AI integrations, delivering industry-specific solutions to its customers. Talkdesk CX Cloud and Industry Experience Clouds utilise modern machine learning and language models to enhance contact centre efficiency and client satisfaction.
The company offers comprehensive cloud-based solutions, such as Microsoft Dynamics 365, Gaming Consoles, Microsoft Advertising, Copilot, among other things, to help organisations offer enhanced CX and ROI. Its generative-AI-powered speech and voice recognition solutions,such as Cortana and Azure Speech Services empowers developers to build intelligent applications.
IBM is a global hybrid cloud and AI-powered 
Uniphore is an enterprise-class, AI-native company that was incubated in 2008. Its enterprise-class multimodal AI and data platform unifies all elements of voice, video, text and data by leveraging Generative AI, Knowledge AI, Emotion AI and workflow automation. Some of its products include U-Self Serve, U-Assist, U-Capture, and U-Analyze. Its Q for Sale is a conversational intelligence software that guides revenue teams with AI-powered insights, offering clarity on how to effectively keep prospects engaged.
Google Cloud accelerates every organisation’s ability to digitally transform its business. Its enterprise-grade solutions leverage modern technology to solve the most criticial business problems 
8×8 offers out-of-the-box contact centre solutions, assisting all-size businesses to efficiently meet customer needs and preferences. It offers custom CRM integrations support and integrates effortlessly with third-party CRMs like Salesforce, Microsoft Dynamics, Zendesk, and more. Offering global support in all time zones & development teams in 5 continents, its patented geo-routing solution ensures consistent voice quality.
Sprinklr is a comprehensive enterprise software company for all customer-focused functions. With advanced AI, Sprinklr’s unified customer experience management (Unified-CXM) platform lets organisations offer human experiences to every customer, every time, across any modern channel.
Upland offers a comprehensive suite of contact centre and customer service solutions with products including InGenius, Panviva, Rant & Rave, and RightAnswers. InGenius enables organisations to connect their existing phone system with CRM, further enhancing agent productivity. Panviva provides compliant and omnichannel capabilities for highly regulated industries. Whereas, Rant & Rave, and RightAnswers are its AI-powered solutions, 
Zoho Social, a part of Zoho’s suite of 50+ products, is a comprehensive social media management platform for businesses and agencies. The Zoho Social dashboard includes a robust set of features, such as Publishing Calendar, Bulk Scheduler, and Approval Management to offer businesses all the essential social media publishing tools. Its monitoring tools help enterprises track and respond to relevant social conversations.
Hootsuite, headquartered in Vancouver, is a social media management platform that streamlines the process of managing multiple social media accounts. Some of its core offerings include social media content planning and publishing, audience engagement tools, analytics and social advertising. Its easy-to-integrate capabilities help marketing teams to schedule and publish social media posts efficiently.
Brandwatch enables businesses to build and scale the optimal strategy for their clients with intuitive, use-case-focused tools that are easy and quick to master. Bringing together consumer intelligence and social media management, the company helps its users react to the trends that matter, collaborate on data-driven content, shield the brand from threats and manage all the social media channels at scale.
Zoho Corporation offers innovative and tailored software to help leaders grow their business. Zoho’s 55+ products aid sales and marketing, support and collaboration, finance, and recruitment requirements. Its customer analytics capabilities come with a conversational feature, Ask Zia. It enables users to ask questions and get insights in the form of reports and widgets in real-time.
Salesforce-owned Tableau is an AI-powered analytics and business intelligence platform, offering the breadth and depth of capabilities that serve the requirements of global enterprises in a seamless, integrated experience. Marketers can utilise generative AI models, AI-powered predictions, natural language querying, and recommendationsons.
Fullstory is a behavioural data platform, helping C-suite leaders make informed decisions by injecting digital behavioural data into its analytics stack. Its patented technology uncovers the power of quality behavioural data at scale, transforming every digital visit into actionable insights. Enterprises can increase funnel conversion and identify their highest-value customers effortlessly.
Contentsquare is a cloud-based digital experience analytics platform, helping brands track billions of digital interactions, and turn those digital 
Amplitude is a product analytics platform, enabling businesses to track visitors with the help of collaborative analytics. The platform leverages the capabilities of 
Adobe Experience Cloud offers a comprehensive set of applications, capabilities, and services specifically designed to address day-to-day requirement for personalised customer experiences at scale. Its platform helps play an essential role in managing different digital content or assets to improve customer happiness. Its easy-to-optimise content gives users appropriate marketing streams, ensuring product awareness.
Started in 2005 in a Sweden-based small town, Norrköping, Voyado offers a customer experience cloud platform that includes a customer loyalty management system. This platform helps businesses design and implement customer loyalty programs, track customer 
TapMango provides a comprehensive, customisable, flexible and feature-rich customer loyalty program. The loyalty tools include an integrated suite of customised consumer-facing technology, easy-to-use merchant tools, and automation algorithms, all aimed at enhancing customer experience. Adaptable to any industry, TapMango’s platform helps merchants compete with larger chains, converting customer one-time purchases into profitable spending habits.
Adobe Experience Cloud offers a comprehensive set of applications, capabilities, and services specifically designed to address day-to-day requirements for personalised customer experiences at scale. Its innovative platform has played an essential role in managing different digital content or assets, to improve customer happiness or satisfaction. Some of its products include Adobe Gen Studio, Experience Manager Sites, Real-time CDP, and Marketo Engage.
