RedPoint Global, a data management and integrated marketing technology company, today released a solution to help organizations build customer engagement.
Called the Customer Engagement Hub, it integrates data from structured and unstructured environments, applies machine learning to customer analytics and helps marketers orchestrate interactions with customers. The company calls it "an evolutionary step designed to reinforce RedPoint’s commitment to helping organizations improve customer engagement as a means of growing profitable revenue."
'Damn Good at What We Do'
CEO Dale Renner said this approach works for marketers because it embraces an "open garden" of technology integrations, promotes a single code base and offers personalization on a micro level beyond segmentation. It also works "because we're damn good at what we do," Renner told CMSWire.
"We don't think personalization is possible at the segment level," said Renner, whose Wellesley Hills, Mass.-based company has 150 people. "How micro can you get those segments to be?"
Marketers also need to leverage machine learning to drive decisioning with analytics, he said. The point solutions and channel-focused engagement systems are short-sighted ways to attempt to connect with customers, Renner said. They offer partial views of customers in specific functions and lock up data.
"We think of suites as walled-garden approaches," Renner said. "The competition comes at it from this approach."
He called this offering a "suite of apps that are not necessarily integrated." Organizations must have all the components working in the walled garden or will find themselves in a rip-and-replace project with their solutions. He continued:
"We take an open garden, connected strategy where we can come into an environment and plug in to the whole connected architecture through our APIs and a software development kit. Because we care about bringing all that data together. We care about those in-line analytics and machine learning to drive the next best action. We care about intelligent orchestration ... to work across an enterprise and engage with end systems. We're not trying to be an end system. We connect to them through all those things."
Machine Learning Analytics
RedPoint’s Customer Engagement Hub leverages legacy and new technologies and includes:
- A customer data platform that processes and integrates customer data including first-, second- and third-party, batch and streaming and structured and unstructured data
- In-line analytics which operationalizes machine learning, advanced analytics and real-time decisioning
- Orchestration of interactions with individuals (e.g. customers, members, patients, policyholders, accounts) across digital and traditional channels
"We have a completely different approach from any one," Renner said. "... You either work with an environment or you don't. There is no in between."
Rise of CDPs
Gartner last month named RedPoint a niche player in its Magic Quadrant for Digital Marketing Hubs.
RedPoint, BlueConic and Eulerian Technologies — included by Gartner’s as 2017 niche players — were also cited in Raab & Associates' new Customer Data Platform Industry Profile report released in January by the Customer Data Platform Institute. The report predicts the CDP market will be worth $1 billion by 2019.
CDPs allow marketers to build unified customer databases that can be accessed by other systems. David Raab, principal for Raab & Associates and CEO of the Customer Data Platform Institute, told us marketers gain better control over data than in traditional enterprise data warehouses, which often lack real-time access for marketers, analytics, reporting and messaging capabilities.
Renner told CMSWire he sees CDPs as giving marketers control of the data versus IT.
"It's going to be a collaboration, but in this real-time world and digital transformation, a marketer has an insatiable appetite for asking questions," he said. "They're the keepers of the data. That's the shift that's going on."