MessageGears, a leader in data activation and engagement for enterprise brands, has unveiled its 2024 Customer Data Platform (CDP) report, created in collaboration with Hanover Research. This report delves into current perceptions of CDPs among enterprises, their functionality, the challenges organizations face, and what features are deemed most critical for effective customer data management.

1. Current CDP Satisfaction

   • Despite significant investments in data, only 1% of surveyed enterprises find their existing CDP viable for future needs, highlighting a disconnect between expectations and reality.

2. Preference for Composable CDPs

   • More than half of enterprises (56%) now favor a composable CDP over traditional packaged solutions. This shift indicates a desire for more tailored and adaptable data management tools.

3. Positive Reception of Composable Solutions

   • A substantial 86% of enterprises report satisfaction with their composable CDP setups, underlining the growing trend towards flexibility and customization in data platforms.

4. Impact of Composable CDPs

   • Enterprises recognize that composable CDPs not only meet consumer demands (72%) but also enhance performance and efficiency (71%), making them a preferred choice for many brands.

5. Diverse Use Cases for CDPs

   • Enterprise brands utilize their CDPs in various ways, including:
     • Real-time customer engagement and personalization (40%)
     • Cross-departmental collaboration and data sharing (39%)
     • Managing and optimizing the customer journey (38%)
     • Ensuring data privacy and compliance (37%)

Expert Commentary
Will Devlin, Vice President of Marketing at MessageGears, stated, “Enterprise brands are making huge investments in data, and they are justifiably looking to get a bigger return out of those investments. This report provides insight and perspective into what enterprises are doing—and trying to do—when it comes to customer data management.”

He further emphasized the positive trend towards composability, saying, “As a champion of the approach for more than a decade, it’s exciting to see the continued favorable trends toward composability and warehouse-native tools by enterprise brands.”

The 2024 CDP report from MessageGears sheds light on the evolving landscape of customer data platforms, revealing significant insights that can help enterprises optimize their data strategies. As the industry progresses, the findings will serve as a valuable resource for brands looking to enhance their data management capabilities.