February, 2021 - CDP Institute - Page 7

Dates : February 2021

CMO Council also had upbeat results: 69% said they plan higher martech spend in 2021. But there was an odd disconnect in their approach: while journey management and digital strategies were their top targets for business improvement, their highest martech priority was analytics.

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And what do IT leaders think? Adobe found they rank CDPs (33%) second only to predictive analytics (37%) in impact on customer experience, well ahead of chatbots, robotic process automation, and other advanced technologies. Two-thirds said IT was solely (31%) or jointly (37%) in charge of martech, compared with 15% who said marketing was in control. You’d likely get a different answer if you polled a bunch of marketers.

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CDP Tealium yesterday announced a $96 million Series G funding, raising their total to $264 million. It’s the second-largest CDP funding round in our files and puts Tealium in second place for total CDP funding. Segment, now part of Twilio, is the leader in both categories.

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CRM vendor Hubspot has agreed to buy The Hustle, which publishes a daily newsletter, podcast, and research for entrepreneurs. LinkedIn says The Hustle has 100+ employees, who will now help Hubspot pump out even more content than it does already.

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Open source, highly secure collaboration platform Rocket.Chat has raised $19 million, more than double its previous total of $7.9 million. The system positions itself as a Slack alternative that supports all types of communications, integrates easily with other platforms, and protects privacy by letting users host their own data. The Brazil-based company says the system is installed on 845,000 servers in 150 countries.

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B2B CDP Leadspace has raised a $46 million round, bringing their total to $107 million. The company specializes in enterprise-scale deployments with clients including Salesforce, American Express, Zoom, Microsoft, and Verizon.

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Twitter has purchased email newsletter technology vendor Revue. It may seem an odd adjunct to Twitter’s core business, but the company points out that many journalists rely on Twitter as a source and outlet, so newsletters will help them further interact with their audiences.

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Contextual ads are an alternative to identity-based targeting that relies on cookies. But contextual ad network Infolinks has combined the two by enhancing ad bids with identity profiles from device graph builder Intent IQ. It’s possible because Intent IQ builds its profiles without using cookies or advertising device IDs (MAIDs).

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The CDP industry added 25% more employees and 35% more companies in 2020 and will reach over $1.5 billion in revenue in 2021, according to the CDP Institute’s just-released Industry Update report. Most growth comes from companies combining CDP capabilities with campaign and delivery features, although a core of data-only CDPs has also been successful. Lots of colorful graphs.

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Rudderstack is one of the CDPs that limits itself to data assembly. They just launched Warehouse Actions, which converts CDP data into event streams as well as scheduled batch extracts. Other new features make it easier to load cloud data into the system.

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Every survey ever taken has found that personalized advertising is consumers’ least favorite reason for giving companies their data. So we’re genuinely perplexed that Facebook is offering a “better ads experience” as a reason for Apple users to consent to data sharing. Before you spin an elaborate theory of what they’re really up to, remember Hanlon’s Razor: “never attribute to malice what can be explained by stupidity.”

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UN Secretary-General Antonio Guterres has called for a global regulatory framework to rein-in the power of social media companies like Twitter and Facebook. Speaking at a news conference, Guterres expressed grave concern about the amount of data the companies control, the potential use of that data to influence politics and our behavior, and the risks of allowing these companies to continue to have unrestricted power over our lives.

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