Switching gears, this Invoca survey found that data quality is the most common obstacle to using customer data to optimize ad performance (46%). Privacy is next (42%), followed by too much data (31%) and collecting data from silos (28%). It’s a helpful reminder about a problem that’s easy to overlook when you’re planning that oh-so-sexy CDP.
Lots of small-but-significant news today, Dear Reader. Oracle has purchased cloud-based loyalty platform CrowdTwist. Industry trends illustrated: marketers focus on full life cycle, not just acquisition; cross-channel orchestration; shift to cloud; expanded scope for enterprise marketing vendors; prebuilt campaigns to speed deployment.
Speaking of customer experience, consultancy COPC found consumer satisfaction with multichannel experience reached the lowest point in the eight years they’ve been keeping score, falling to 38% from 57% in 2018. There’s plenty more in this 75 page report so let’s just pull one factoid: only 60% of respondents said they’d used the phone to resolve a service issue in the past year.
With CDP vendors increasing their workforces by 3.4% in six months, compared with an average of 0.2% each six months over the prior two years, the sector seems to be growing again, according to our own semi-annual industry update. There is much talk of composable CDPs but they still employ no more than 5% of the sector workforce. What is a clear trend is the acquisition of independent CDPs by vendors interested in adding a CDP to a larger system (usually an activation system).