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 unbiased agency. The responses revealed that Buyer information platforms (CDPs) have confirmed important to organizational progress 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 business 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 fact: firms that put money into a CDP vastly outperform people who don’t and their utilization has led to large success throughout the board. Actually, essentially the most skilled CDP customers confirmed higher confidence of their choices, higher means to handle spending, more healthy budgets, and, most significantly, an even bigger return on their advertising {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 examine solely emphasizes that investing in a CDP not solely helps firms obtain their objectives and discover stability throughout unstable instances nevertheless it pays off shortly.
Moreover, in at this time’s panorama, buyer expertise is the brand new foreign money. And firms will need to have a plan for accumulating and organizing the information essential to create related experiences, in addition to the performance to activate the information in a significant manner. The examine revealed {that a} CDP is the best way ahead. Firms with a CDP (93%) are extra glad with their means to create related buyer experiences via their buyer information 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 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 going through firms worldwide, like unstable economies, damaged provide chains, and rising regulatory necessities for the way firms use buyer information. It does imply that firms who use a CDP are higher ready to deal with all these challenges and have bypassed the main unintended effects and jet streams being felt by firms 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 device.
