For the fourth version of Tealium’s State of the CDP 2023 report, we surveyed over 1,200 professionals worldwide in B2B, B2C, and B2B2C industries via an impartial agency. The responses revealed that Buyer knowledge platforms (CDPs) have confirmed crucial to organizational development throughout demanding instances, particularly as we see a worldwide tightening of the collective purse strings. As well as, manufacturers with a CDP have been extra simply capable of navigate financial or trade challenges, recession-proof the group, and unlock new alternatives by breaking down inner silos and streamlining buyer communications.
And all of those advantages popping out of long-term and short-term CDP utilization have led to 1 definitive reality: corporations that put money into a CDP vastly outperform people who don’t and their utilization has led to super success throughout the board. Actually, probably the most skilled CDP customers confirmed better confidence of their choices, higher means to handle spending, more healthy budgets, and, most significantly, an even bigger return on their advertising and marketing {dollars} than corporations with little or no CDP expertise.
For instance, the survey confirmed that 74% of corporations with a CDP noticed ROI and worth throughout the first 12 months. On high of that, three-quarters of respondents realized the worth of their CDP in lower than one 12 months, and 89% throughout the first 18 months. That mentioned, the examine solely emphasizes that investing in a CDP not solely helps corporations obtain their targets and discover stability throughout unstable instances but it surely pays off rapidly.
Moreover, in immediately’s panorama, buyer expertise is the brand new forex. And corporations will need to have a plan for amassing and organizing the information essential to create related experiences, in addition to the performance to activate the information in a significant method. The examine revealed {that a} CDP is the best way ahead. Corporations with a CDP (93%) are extra glad with their means to create related buyer experiences via their buyer knowledge than these with out a CDP (49%). Not solely that, however the examine additionally revealed that manufacturers with a CDP are twice as glad with assembly advertising and marketing targets (90%) vs. these with out a CDP (44%).
Nevertheless, these findings don’t imply manufacturers which have a CDP aren’t being impacted by the challenges dealing with corporations worldwide, like unstable economies, damaged provide chains, and rising regulatory necessities for the way corporations use buyer knowledge. It does imply that corporations who use a CDP are higher ready to deal with all these challenges and have bypassed the most important unwanted side effects and jet streams being felt by corporations with out a CDP.
Take a closer look at the report to see extra insightful stats and the way manufacturers like yours are leveraging this highly effective software.
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