For the fourth edition of Tealium's State of the CDP 2023 report, it was revealed that Customer Data Platforms (CDPs) have been a key factor in helping organisations to grow during difficult times, as well as unlock opportunities by breaking down internal silos and streamlining customer communications. Companies that invested in a CDP were found to vastly outperform those that didn't, with 74% of CDP users achieving ROI within the first year.
Today, customer experience is the new currency, and CDPs are seen as the way forward in being able to create relevant experiences through customer data. Companies with a CDP were found to be twice as satisfied with meeting marketing objectives than those without (93% vs 44%).
However, CDPs are not a cure-all for the challenges facing companies in the current landscape, such as unstable economies, broken supply chains, and regulatory requirements. Nevertheless, the data shows that companies with a CDP are better-equipped to address these challenges and have avoided the major negative impacts felt by those without CDPs.
To learn more about the survey's findings, read the 2023 State of the CDP report from Tealium.
Originally reported by Martech: https://martech.org/2023-state-of-the-cdp-how-innovative-brands-deliver-value-with-a-cdp/
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