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(From Twilio investor relations slide deck)
Communications platform vendor Twilio today confirmed that it is buying Segment, the leading pureplay vendor in the emerging customer data platform (CDP) space. The move will create a new challenger to incumbent customer relationship and engagement vendors including Salesforce, Adobe and Microsoft when the all-stock transaction closes later this year.
CDP has become the buzzword-du-jour in marketing technology (martech) circles — much to the dismay of my colleague Jon Reed who named it most tedious acronym of 2019 — but it aims to solve a very real problem for enterprises seeking to build digital engagement with customers.
Over the past decade, brands have invested in many different technologies and offerings to get closer to their customers, and as a result their customer data today sits in a complex landscape of disconnected silos. Even when an enterprise has stayed loyal to a single vendor’s suite of sales and marketing tools — the aforesaid Salesforce, Adobe and Microsoft, or perhaps Oracle, SAP and others — the fabled ‘360-degree view’ of the customer has eluded them as digital engagement channels have proliferated. All these vendors have acknowledged this failing by each launching their own CDP initiatives in the past few years, …
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