Step aside CRM systems; Adobe believes CDP platforms are the next CX frontier
“The interest in CDP is a great validation of the fact that the traditional CRM is not the way to go to build the next generation, customer experience.”
David Wadhwani, President of Digital Media at Adobe, made this comment while celebrating the rise in demand for its Adobe Experience Cloud, which achieved a record $1.1 billion in Q2 revenue.
The company credited this growth in part to the native integration of its CDP with the Adobe Customer Journey Analytics and Journey Optimizer solutions – paving the way for CX personalization at scale.
Adobe refers to these three solutions as its “intelligent services”. By combining them, Wadhwani believes:
Our enterprise customers can now get a 360-degree view of everything that’s happening across the customer journey, whether it’s web traffic or, or through mobile apps, social call center, and so on.
The CDP is the beating heart of such a strategy with rising interest in the technology.
Interestingly, CDP platforms also proved a prominent point of discussion during a recent Salesforce earnings call. Now, Adobe spent much of their session promoting the potential of the technology.
In doing so, the leading digital experience platform provider – as per the 2022 Gartner Magic Quadrant – suggested CDP could provide many more benefits than a conventional CRM.
While many may confuse the solutions, Wadhwani believes businesses will become increasingly CDP-orientated. He said:
[With CRM], some of the data might be there, but you really need to activate the data and construct a rich profile before you can activate that. If we look at the CDP market, what we see is, from our perspective, it’s the platform for full customer engagement.
To achieve such engagement, Adobe has built over 100 connectors for data collection, which companies can assemble in a real-time database to enable the next best action.
As such, Adobe helps its clients activate real-time customer profiles to deliver “personalization at scale to millions of people in milliseconds.”
Further, the vendor has also launched third-party integrations with the likes of Microsoft Dynamics, ServiceNow, and other prominent enterprise technology vendors to develop a CDP that serves many customer-facing applications.
Adding his thoughts on the vendor’s position in the broad and exciting market, Shantanu Narayen, Chairman and CEO at Adobe, said:
We have 32 billion profiles right now. I mean, clearly every customer has their profile kept isolated. So we’re clearly the leader as it relates to you know, large companies that have a CDP in the market. That’s well done.
Adobe is also planning for the future of CX by expanding its metaverse-ready portfolio. Indeed, it has recently released a SDK for developers who want to integrate 3D capabilities into their applications.
The innovation was developed by the team behind Substance 3D – Adobe’s 3D and augmented reality platform that experienced its best-ever Q2 results. Companies such as Hugo Boss, Mattel, and Unity have started harnessing the platform to deliver immersive experiences.
To stay ahead of the race to lead the metaverse space, Adobe has also enhanced its analytics platform to draw new and exciting insights from the channel and streaming media.
Discover more by reading our article: What Customer Insights Is Adobe Pulling From the Metaverse?