Customer data platforms (CDPs) are among marketers’ top marketing technology (martech) priorities in Asia Pacific (APAC). According to data from Forrester’s 2021 Global Marketing Survey, 23% of B2C marketing decision-makers in APAC already use CDPs, and 26% plan to do so in the next 12 months — the most cited of the 20 martech options we asked about. What are the options out there? My recently published report, Now Tech: Customer Data Platforms In Asia Pacific, Q4 2021, helps you navigate this fast-developing vendor landscape in APAC.
Forrester defines a customer data platform as: a platform that centralizes customer data from multiple sources and makes it available to systems of insight and engagement.
Marketers expect their CDP investments to help them maximize the value of the first-party data they collect. After all, 21% of B2C marketing decision-makers in the region see the inability to take action on customer data as a top marketing challenge over the next two years. For a variety of use cases, effective CDPs help marketers:
- Integrate disparate data sources. Lack of an enterprise view of master customer data is a problem for 26% of B2C marketing decision-makers in APAC. CDPs ingest data from various sources and store them in a centralized hub. With data management, enhancement, hygiene, and identity resolution as essential capabilities, CDPs make compiled customer data available.
- Orchestrate data to deliver real-time, personalized experiences. CDPs construct, progressively maintain, and provide timely access to customer profiles. CDPs promise data orchestration capabilities to deliver more compelling customer engagement, including more personalized targeting, interaction design, and offer management across channels.
- Accelerate insights-driven decision-making. Pairing a single view of customers with advanced analytics capabilities powered by AI and machine learning, successful CDPs help marketers better understand customers. Companies can use CDPs as an intelligence engine to make smarter customer engagement decisions.
In the report, we identified 26 CDP vendors that provide CDP as a standalone product and with relevant CDP revenues in APAC. Based on their CDP revenues in the region, we segmented them into three market presence segments — large, midsize, and small — and four primary segments based on their top use cases — data management, orchestration, automation, and measurement-oriented CDPs.