1 00:00:00,296 --> 00:00:04,046 (soaring instrumental music) 2 00:00:06,960 --> 00:00:08,310 - Hi, my name's Joe Stanhope. 3 00:00:08,310 --> 00:00:09,730 I'm a vice president and principal analyst 4 00:00:09,730 --> 00:00:12,000 on Forrester's B2C marketing team. 5 00:00:12,000 --> 00:00:12,900 - And I'm Stephanie Liu, 6 00:00:12,900 --> 00:00:16,330 also an analyst on Forrester's B2C marketing team. 7 00:00:16,330 --> 00:00:17,163 - And we're excited today 8 00:00:17,163 --> 00:00:18,630 to talk about our new research 9 00:00:18,630 --> 00:00:20,980 on the customer data platform market. 10 00:00:20,980 --> 00:00:22,900 This is a market we've been actively following. 11 00:00:22,900 --> 00:00:24,770 And since the last time that we wrote syndicated 12 00:00:24,770 --> 00:00:26,000 research on the topic, 13 00:00:26,000 --> 00:00:27,620 this market, an emerging category, 14 00:00:27,620 --> 00:00:29,340 has progressed tremendously. 15 00:00:29,340 --> 00:00:31,080 We've got a lot of interest on CDPs 16 00:00:31,080 --> 00:00:33,090 from Forrester clients and buyers, 17 00:00:33,090 --> 00:00:35,260 as well as from the vendor community. 18 00:00:35,260 --> 00:00:37,030 So we went in and we figured out 19 00:00:37,030 --> 00:00:38,600 how this market is evolving 20 00:00:38,600 --> 00:00:39,840 and where it needs to go. 21 00:00:39,840 --> 00:00:41,660 And that comes down to progress 22 00:00:41,660 --> 00:00:44,100 in two main dimensions. 23 00:00:44,100 --> 00:00:45,900 - The first dimension is that there are more 24 00:00:45,900 --> 00:00:47,720 options available today. 25 00:00:47,720 --> 00:00:50,600 So large established martech vendors 26 00:00:50,600 --> 00:00:54,010 like Adobe, Oracle, Microsoft and Salesforce, 27 00:00:54,010 --> 00:00:56,120 have either launched a CDP product 28 00:00:56,120 --> 00:00:59,210 or announced their plans to launch a CDP product. 29 00:00:59,210 --> 00:01:01,580 And with that development our clients 30 00:01:01,580 --> 00:01:04,140 are asking a different set of questions. 31 00:01:04,140 --> 00:01:05,370 So before, when we first 32 00:01:05,370 --> 00:01:07,280 published our research in 2018, 33 00:01:07,280 --> 00:01:08,857 we were getting questions about, 34 00:01:08,857 --> 00:01:10,527 "I've built my CDP shortlist, 35 00:01:10,527 --> 00:01:12,550 "which one do you recommend?" 36 00:01:12,550 --> 00:01:15,090 Today, we're getting a wider array of questions. 37 00:01:15,090 --> 00:01:17,057 So customers are asking us, 38 00:01:17,057 --> 00:01:19,227 "Should we build a solution in-house? 39 00:01:19,227 --> 00:01:22,567 "Should we expand our existing implementations 40 00:01:22,567 --> 00:01:24,827 "of these established martech vendors?" 41 00:01:24,827 --> 00:01:28,998 "Or should we be looking at independent CDPs?" 42 00:01:28,998 --> 00:01:31,490 - And the second major area and component, 43 00:01:31,490 --> 00:01:33,120 or dimension, of this research 44 00:01:33,120 --> 00:01:34,650 is where are CDPs going 45 00:01:34,650 --> 00:01:37,450 from a functional and capability perspective? 46 00:01:37,450 --> 00:01:39,200 Currently, we're thinking about really 47 00:01:39,200 --> 00:01:40,580 how do they progress 48 00:01:40,580 --> 00:01:43,270 from a functional parity perspective? 49 00:01:43,270 --> 00:01:45,630 Reaching from an emerging category 50 00:01:45,630 --> 00:01:48,750 into parity with existing categories, 51 00:01:48,750 --> 00:01:50,570 to meet the requirements today 52 00:01:50,570 --> 00:01:53,290 that enterprise class marketing organizations have. 53 00:01:53,290 --> 00:01:54,640 But going even beyond that, 54 00:01:54,640 --> 00:01:58,100 how can CDPs really innovate the functionality 55 00:01:58,100 --> 00:02:00,880 and capabilities they deliver to marketing organizations, 56 00:02:00,880 --> 00:02:03,560 so those firms can really move forward 57 00:02:03,560 --> 00:02:05,270 and advance their marketing KPIs 58 00:02:05,270 --> 00:02:06,480 and customer engagement. 59 00:02:06,480 --> 00:02:08,120 And this takes two main forms. 60 00:02:08,120 --> 00:02:09,860 There's opportunities for innovation 61 00:02:09,860 --> 00:02:12,430 and progress in providing more intelligence 62 00:02:12,430 --> 00:02:14,470 to marketers to understand, 63 00:02:14,470 --> 00:02:17,020 target and personalize for customers better. 64 00:02:17,020 --> 00:02:19,020 And there's opportunities to innovate 65 00:02:19,020 --> 00:02:21,870 in terms of automation, 66 00:02:21,870 --> 00:02:23,400 being able to react, 67 00:02:23,400 --> 00:02:26,150 to engage faster at the speed of the customer, 68 00:02:26,150 --> 00:02:29,453 using more data and using it more intelligently. 69 00:02:30,900 --> 00:02:32,690 - And with that, check out our new research. 70 00:02:32,690 --> 00:02:33,920 And if you have any questions, 71 00:02:33,920 --> 00:02:35,870 feel free to set up an inquiry with us.