"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.