Recently, Gartner released the Market Guide for Customer Data Platforms for Marketing. The report describes industry trends and projections for the Customer Data Platform market, and includes Zylotech in a list of representative vendors that exemplify these trends. Zylotech’s CEO, Abhi Yadav, described the report as “a validation of an unprecedented focus on customer-centricity in this digital era.” Its significance is two-fold: it recognizes the necessity for marketers to automate customer analytics, and it also provides a list of platforms that will be relevant to different marketers, acknowledging that each marketer has individual problems.
One of Gartner’s key points is that the CDP industry has marketers buzzing for more information. “Inquiries from Gartner clients on the topic doubled in the first half of 2017 and the first half of 2018,” the report states. The CDP industry is growing rapidly, and that’s in part due to the rapid growth of the companies that are paving the way. It’s reassuring as one such company, then, that marketers see the value of our service and want to know more.
The report also enumerated several frustrations marketers have with this newly emerging market. For example, the report finds that marketers can have a tough time differentiating vendors. This is important information for both marketers and companies. CDPs need to listen to the frustrations of their customer base, and react accordingly. Most CDPs out there provide a service that is in some way distinct from its competitors. Zylotech, for one, is a next-generation customer data analytics platform, providing data unification, AI-assisted cohorting, microsegmentation, and several other integral features, all in one product. Making sure marketers know the differences between CDPs and other options for customer data analytics falls on the major actors in the industry, and every CDP should strive to distinguish itself in product and personality from its competition.
Lastly, the report lists out some common-sense steps needed to evaluate what a CDP can do for a marketing team and their company. It’s important for CDPs to understand this perspective, and proactively develop solutions and craft the right messaging towards it. For any company, but especially CDPs in an emerging industry, catering communication towards the intended audience is the best way to get the right message out to the right audience.
The Gartner report wasn’t in and of itself groundbreaking news—most people would have guessed that the CDP industry is growing and marketers are getting more interested in it as product leaders emerge. But this report quantifies those guesses, and cements CDPs as an integral and developing part of the marketing world in 2018 and beyond. That’s something to be excited about, for those of us in the industry!
Josh Fayer manages Marketing Communications at Zylotech, where he brings an extensive background in public relations and computer science. Josh Loves music! He sings with an a cappella group, Orange Appeal, (whose recent album Unpeeled he shamelessly plugs at work), and at home he loves to mess around with a variety of instruments. Josh enjoys spending quality time with his adorable dog, and exploring around his new home near the South Shore of Boston.
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