7 January 2021
Driving more value with a Smart Hub CDP
The Customer Data Platform (CDP) has established itself as a critical tool for brands in every industry.
As companies have moved to unlock the enormous value of their customer data, the first priority has been to get all that data in order. The CDP provides the answer: one place to collect and manage all your data from across the business – giving your teams a clear and comprehensive understanding of every customer.
The importance of breaking down silos and getting your data organised is as important as it has ever been – and the CDP market continues to boom. Companies like Adobe, SAP, Microsoft and Oracle have all invested heavily in CDP development in 2020, while Twilio recently acquired Segment in a $3.2 billion deal.
The CDP Institute also reports continuing growth in the industry as companies prepare for a post-pandemic world where the importance of data and digital experience will continue to accelerate.
Against a constantly shifting tech landscape – where trends disappear as quickly as they emerge – it seems the CDP is here to stay.
The evolving demands on the CDP
But CDP providers can’t stand still. As the demands on marketing and product teams have grown to create a competitive advantage with standout digital experiences, so have the demands on the CDP.
Knowing every customer – and understanding their unique wants and needs – is no longer enough. Expectations of the CDP have evolved beyond organising data to now using that data to create value.
Now a CDP is being asked to do more than just data plumbing. It’s being asked to analyse each customer as an individual. To predict what they might want to see or do next. To make decisions based on previous behaviours or live context. And to engage them across every digital channel – at the right time, with the right message.
On top of these demands for more sophisticated capabilities, companies are also turning to their CDP to consolidate an increasingly complex tech stack. They’ve recognised that combining a CDP with a personalisation or experimentation tool can increase both efficiency and effectiveness – and make life a lot more simple in the process.
The Smart Hub CDP
The Smart Hub CDP – as recognised by Gartner – is designed to achieve all of this.
It takes the core data management capabilities of a CDP, and layers on top intelligent decisioning, predictive analytics, experimentation and orchestration.
The result? One tool to unlock the value of your customer data and drive brilliant experiences across every digital channel. It sits at the heart of your tech stack and acts as the ‘digital brain’ – powering data-driven decisioning, experimentation and orchestration across your whole ecosystem.
Breaking down the Smart Hub CDP
To understand the capabilities of the Smart Hub CDP, it’s helpful to break down the different components.
CDP: data management
At the heart of the Smart Hub CDP is the CDP itself – breaking down data silos in your organisation to connect and organise all your customer data. It enables you to recognise and understand every customer in every moment – giving you the insight required to deliver more relevant and personalised experiences.
Smart: decisioning, predictive analytics and experimentation
The ‘Smart’ allows you to leverage this data to predict, test and optimise every customer interaction across every digital channel. By using predictive analytics, decisioning technology and real-time experimentation, a Smart Hub CDP lets you create smarter, data-driven customer interactions at every customer touchpoint.
The ‘Hub’ then allows you to orchestrate these interactions across every digital app, platform and channel. It enables you to deliver the right message, at the right time, in the right place – and create joined-up, omnichannel experiences for all your customers.
To learn more about these different capabilities – and what they deliver in practice – check out our new Quick Guide to the Smart Hub CDP.
Data management in a post-pandemic world
It’ll be fascinating to see how the demand for Smart Hub CDPs evolves in 2021 as brands adapt to a post-pandemic world. With focus on digital experience continuing to grow, companies will constantly be searching for new and better ways to drive value from their data. A Smart Hub CDP might just be the best place to start.
The Boxever Smart Hub CDP is transforming results for some of the world’s biggest brands. Get in touch to learn more about building standout digital experiences for your customers.
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