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 vital to organizational progress throughout demanding occasions, 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 inside 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 fact: firms that put money into a CDP vastly outperform people who don’t and their utilization has led to great success throughout the board. In reality, probably the most skilled CDP customers confirmed larger confidence of their selections, higher means to handle spending, more healthy budgets, and, most significantly, a much bigger return on their advertising and marketing {dollars} than firms with little or no CDP expertise.
For instance, the survey confirmed that 74% of firms with a CDP noticed ROI and worth throughout the first 12 months. On prime 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 research solely emphasizes that investing in a CDP not solely helps firms obtain their targets and discover stability throughout unstable occasions but it surely pays off shortly.
Moreover, in at this time’s panorama, buyer expertise is the brand new forex. And corporations will need to have a plan for amassing and organizing the info essential to create related experiences, in addition to the performance to activate the info in a significant method. The research 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 and not using a CDP (49%). Not solely that, however the research additionally revealed that manufacturers with a CDP are twice as glad with assembly advertising and marketing goals (90%) vs. these and not using a CDP (44%).
Nevertheless, these findings don’t imply manufacturers which have a CDP aren’t being impacted by the challenges dealing with firms worldwide, like unstable economies, damaged provide chains, and rising regulatory necessities for the way firms use buyer knowledge. It does imply that firms who use a CDP are higher ready to handle all these challenges and have bypassed the key unintended effects and jet streams being felt by firms and not using 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 device.
