Working together with ForesightOne, David Raab, and Cory Munchbach, CabinetM built a stack designed to be easy-to-use and transformative for businesses looking to optimize their use of customer data. The stack provides CDP resources for organizations looking to employ such technology.
In recent years, CDPs have become increasingly popular among marketers, especially in the FinServ industry. CabinetM's decision to invest in such a solution seems to suggest that customer data platforms aren't going away any time soon!
As a solution for enhanced customer data management, CDPs have a rich history, and the discourse and exploration of their deployment has been as diverse as it has been thorough. David Raab, who founded the CDP Institute and established the premiere Real CDP certification, has spent years delving into how different organizations could benefit from customer data platforms. His work in popularizing the technology has been instrumental in CabinetM and ForesightOne's recent efforts in the field.
In a recent webinar co-sponsored by Lemnisk (themselves a member of the CDP Institute), Pedro Rego of ForesightOne spoke with Pedro Barata of Itau International Bank and Alan Sarasohn of Softworld in an attempt to examine what the future of FinServ marketing looks like. In the last few months, we've been increasingly adamant that banks committed to retaining clients and acquiring new ones must take leveraging customer data seriously, investing resources into marketing measures that promote omni-channel content and hyper-personalization.
With these values in mind, ForesightOne has identified that a CDP is one of the most dynamic MarTech solutions for banks that care about deep and long-lasting customer relationships. Due to their capability for integration and the detail and accuracy with which they can construct customer profiles, customer data platforms assert themselves as a tool with few peers--and it appeared that Mr. Barata and Mr. Sarasohn have similar mindsets. This is a MarTech solution primed for massive integration and real-time marketing development, useful across a myriad of industries, and only limited by the imagination of the organizations who deploy it.
CabinetM shares in ForesightOne's belief as well, and it will be fascinating to see how FinServ marketers begin to respond to the increasing popularity of those CDPs like Lemnisk who are targeted to their needs. These solutions--especially when paired with effective data management strategies such as Open Banking--are better suited than any other to help banks unify their departments while crafting targeted marketing collateral that adheres to increasingly strict compliance regulations and prioritizes customer trust and security.
"There is no question that during recent years traditional Finance Institutions have suffered due to newly developed digital services offered by both new and entrepreneurial FinServe Organizations," said Curt Bloom, Chairman and CEO of ForesightOne, an organization devoted to launching innovative marketing technologies. "There is also no question that traditional FinServ organizations hold the key to both volume and multi-data sources. Leveraging that data through a CDP, like Lemnisk, should aid and embed traditional FinServ organizations to turn their businesses around."
When also thinking about what the next few years will bring to FinServ marketers, it's essential to respond to the evolving demands of both individual customers and the marketplace as a whole. CabinetM's latest announcement suggests that they have their ear to the pulse of marketers globally, and that that pulse beats C-D-P.
At ForesightOne, we're committed to finding innovative MarTech solutions that are going to help marketers and brands elevate their success and optimize their customer experience. We're also committed to bringing these solutions and the insights that undergird them to the organizations that most need them. Our ultimate goal, as we've stressed often, is to build a unified and energized ecosystem of innovators from all industries and all walks of life.
The same connection that fuels our mission is what CDPs bring to FinServ institutions and their customers, and what CabinetM is striving to spread with their latest tech stack.
Customers are talking. CDPs are the best way to listen.