PHOTO:
Sung Jin Cho | unsplash
Companies are increasingly adding customer data platforms (CDPs) to their martech stacks. The CDP Instituteestimates industry revenue will reach $1.55 billion in 2021, a 20% increase over 2020, with other reports expecting more double-digit growth in the future.
CDPs emerged in 2015 to great fanfare and confusion. As is usually the case when a new technology emerges, some predicted the advent of the CDP would bring about the end of legacy technologies, including CRMs. And as is also usually the case, such prophecies fell flat. But how has the rise of the CDP affected the use and trajectory of CRM platforms?