Customer Data Platforms Cited as Preferred Solution for Data Security, Flexibility, Interoperability and Ease of Integration
Treasure Data today released new survey results demonstrating the benefits of an optimized marketing technology stack. Across industries, decision makers from mid-market and enterprise companies expect significant improvement in overall marketing effectiveness, time spent managing and improving data quality, and operational efficiency, as a result of enhancements to the integration and interoperability of various martech solutions.
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“Digital transformation has accelerated across verticals over the past several years, there remains significant opportunity for companies to take advantage of a more holistic, seamless and data-driven approach to customer engagement,” stated Tom Treanor, CMO at Treasure Data. “While 56% of survey respondents—who spanned B2B and B2C brands—view their current martech stack as ‘adequate,’ the need for various technology solutions to more seamlessly plug into existing infrastructure and drive and support business objectives, at scale, is evident.”
Survey findings show complexity in technology integration (46%), budget (38%), and lack of data security and privacy features (31%) are significant organizational barriers to building a technology stack that can adequately scale with modern business needs. Respondents also noted the ability to overcome these challenges would make them better equipped to improve overall marketing effectiveness (94%), time spent managing and improving data quality (92%), and time spent integrating platforms (89%).
According to the results, customer data platforms (CDPs) are the favored solution capable of unifying customer data from multiple sources, retaining high-value customers, and generating insights through machine learning. Among the most advantageous attributes offered by CDPs in addressing these challenges, respondents cited:
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- Security (52%)
- Data flexibility and interoperability (46%)
- Ease of integration with other systems (35%)
The study affirms there is a strong desire to maximize marketing technology to understand, attract, retain and identify customers. Related challenges and opportunities coming out of the survey include:
- A Privacy and Security Conundrum: Security is a critical consideration when evaluating new tools (58%), yet managing privacy compliance across the stack (27%) is considered a current challenge.
- The Need for Cross-Functional Collaboration: With a parallel interest in optimizing the martech stack, there’s an opportunity for IT and marketing teams to collaborate more closely to overcome pain points and solve common challenges.
- Favored Stack Technologies: Those organizations which fine-tune their stack to achieve better outcomes often mix CDPs, content or conversational marketing tools, or customer journey analytics.
- Personalization, At Scale: Main advantages of a CDP include the ability to gather data from a variety of on and offline sources, aligning with respondents’ desire to unify data, personalize websites and build audience targeting segments.
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