Evergage is excited to announce our inclusion in The Forrester New WaveTM: B2B Customer Data Platforms, Q2 2019 report that was just published today (Forrester login required for download or for purchase). We are particularly pleased to be designated a “Strong Performer” – and were among the 13 top emerging vendors selected for the evaluation. In our opinion, our position is a testament to our overall CDP capabilities and traction with B2B customers.
Here are a few of our takeaways from the report, but I encourage you to download the full report for additional information and context.
The New Wave Focus
Forrester New Wave reports evaluate emerging technologies, based on vendors’ offerings, strategies and market presence, and this latest report is designed to help B2B marketers identify the right CDP vendor for their company. According to Forrester, CDPs “ingest, integrate and store the customer’s first-party data to create rich account and contact profiles that serve as the single source of truth for their marketing technology applications.” The New Wave notes: “Forrester found that the ability to provide third-party data for augmentation and enrichment; develop unified profiles at the account, buying center, and contact levels; and create dynamic segments that trigger automatic activation were the top three differentiators for solutions in this category.”
To effectively cater to each person and organization a company does business with, it needs to aggregate, organize and interpret a wide variety of data. This is one reason why CDPs have become so relevant today. But aggregating customer data is really just the first step in this process. Once the data has been brought together, companies need a way to act on the data in a manner that helps build meaningful relationships with customers and prospects.
The Criteria and Evaluation Process
There’s a lot that goes into organizing and orchestrating customer data across a company’s disparate sources and systems – from data integration, identity resolution and security, to segmentation, machine learning and reporting.
For the purposes of this report, Forrester focused on the following 10 criteria: data sources and types, data management, unified profiles, activation, recommendations, analytics, integrations, product vision, product roadmap and market approach. Participating vendors were included in the report only if they had at least $1M in B2B CDP revenue and offered their solution as a standalone platform. Each vendor also needed to present a two-hour briefing and provide several customer references (who were interviewed by Forrester).
Evergage: Forrester’s Take
The Forrester New WaveTM: B2B Customer Data Platforms ranked each vendor across all 10 criteria using a simple scoring method. A vendor’s capability was rated as “Differentiated,” “On Par” or “Needs Improvement.”
Of the criteria evaluated in the New Wave, Evergage received a “Differentiated” rating in three criteria: Recommendations, Analytics and Integrations. There were no criteria where the analyst felt that Evergage needed improvement.
Forrester’s report also states that “customers praise Evergage’s data management and segmentation capabilities…” and that Evergage “enables real-time activation and offers strong GDPR [General Data Protection Regulation] functionality.”
The evaluation criteria also emphasized third-party data, and stated that Evergage customers could benefit from “third-party contact and intent data, for profile enrichment and activation.” With our B2B Detect module, we offer valuable firmographic data based on real-time reverse IP address lookup, right within the platform. For additional data, including third-party intent data, Evergage’s approach is to integrate with any third-party data source a customer wants to utilize. Additionally, we natively offer best-in-class behavioral tracking at both the individual and account level to generate valuable first-party intent data. In our experience working with hundreds of customers, this rich data collected by Evergage has proven to be instrumental for delivering relevant experiences designed to achieve an organization’s key business objectives.
Like other CDP vendors, Evergage can collect, exchange and synthesize data; create a unified customer profile (UCP) for each individual and account; and provide audience segmentation and predictive insights. But Evergage takes things further by:
- Natively tracking cross-channel, deep behavioral data at both the individual (known and anonymous) and account level.
- Using artificial intelligence (AI) and machine learning to determine individual interests and intent, and select optimal content, recommendations and experiences.
- Activating the data to power real-time personalized experiences across websites, email, web and mobile apps, onsite search, online ads, social media, call centers and in physical branches/locations.
- Enabling in-depth analysis of the data within the platform, in a separate data warehouse or inside a dedicated cluster using out-of-the-box reporting, business intelligence (BI) tools or Evergage’s data science workbench.
In the emerging and competitive landscape of CDP vendors – offering solutions for both B2B and B2C companies – we believe that businesses will ultimately seek vendors that can deliver enterprise-class personalization too. In that respect, we believe Evergage is well-positioned as a CDP of the future. For more on how and why you should take action on your customer and prospect data for personalization and more, I encourage you to check out our blog post, “The Importance of Data Activation in Your CDP Strategy."