A particular moment of beauty in everyday life: you look out of your window to a cluster of clouds that are stacked on top of each other, with the lower layer moving faster, overtaking those that are more distant. They collide and merge like a celestial dance.
Salesforce moves in similar steps, merging clouds and expanding ever-greater. It’s recent acquisition of Evergage for an undisclosed sum has expanded the cloud family, which already includes Commerce Cloud, Sales Cloud, and Marketing Cloud.
Leading up to the acquisition, Evergage, a cloud platform built for personalization and customer data, had raised approximately $26 million through a number of rounds of investment. And it comes with a large trophy cabinet, having picked up a number of awards in the last few years, including the Rele Award for CDP of the Year, as well as Personalization Tech Solution of the Year.
Evergage drives personalized data experiences across every channel you can think of, including web, mobile, social media, in-store, adtech and call center. In fact, their mission statement is to “personalize the world.” And now with its acquisition, founder and CEO of Evergage, Karl Wirth, intends to “do what we do better and at a much greater scale and pace than we ever could before.”
Its tech is set to merge with and strengthen Salesforce Marketing Cloud, keeping it competitive with other major players such as Adobe, which has powerful marketing and digital UX tech.
Evergage will provide three core strengths to bolster Salesforce’s armor.
Firstly, Evergage will compliment the Marketing Cloud with enhanced customer data, engagement strategies, and higher audience segmentation. This will allow businesses to provide more relevant information and experiences when interacting with customers across their journeys.
Secondly, its modern customer data model optimizes the ability for behavioral targeting, testing what customers are most likely interested in, and providing more accurate recommendations.
And thirdly, it’s advanced machine learning enables in-depth customer analytics and more intimate one-to-one personalization, with its driving force to increase customer engagement and conversion rates.
Salesforce’s move for Evergage comes as no surprise, given the current trajectory towards large marketing tech companies acquiring customer data platforms (CDP). Acquia followed this playbook back in December with their acquisition of AgilOne.
And to enforce this trend, in January, the CDP Institute announced revenues hit the $1 billion mark for the industry in 2019, with forecasts for 2020 looking bright.