What we learned about the ROI from implementing 25 CDP's and talking to 60+ vendors
March 7, 2023
The digital landscape has seen a monumental shift recently, with titans like Apple and Google spearheading the privacy revolution. Their actions reshape how organizations collect and process customer data, driving the need for robust, privacy-centric solutions.
In this new era, a Customer Data Platform (CDP) is more than just a smart investment; it's a necessity for businesses to thrive, and it will revolutionize the way you engage with customers and supercharge your growth.
Over the last 3 year, we have compiled a list of more than 170 use cases for the average CDP, with it's associated objectives benchmark and suggested KPIs to track - creating a sense of urgency, as well as assisting you to set hypotheses and prepare your business case. We are today sharing it publicly for you to benefit.
Why investing in a CDP makes good sense today:
1. Privacy-first approach in a world of disorder
With Apple's App Tracking Transparency, and Google's Privacy Sandbox, consumers are increasingly aware of their digital footprint. A CDP puts privacy at the core of your data strategy, enabling compliance with regulations like GDPR and CCPA while offering customers transparency and control.
2. Unify your data and make sense of your spaghetti
A CDP seamlessly consolidates disparate data sources, creating a unified, 360-degree view of your customers. Say goodbye to data silos and hello to a more effective, efficient, and personalized marketing strategy.
3. Become the Spotify of your industry: enhanced personalization and predictive capabilities
Harness the power of AI and machine learning to offer unique, hyper-personalized experiences that resonate with your audience. A CDP allows you to create dynamic customer segments and deliver tailored content, driving higher engagement and customer satisfaction. Critical in today's consumer mindset and in this age of procrastination.
4. Improved measurement and optimization - beyond your company walls, that is...
Understanding your customers' behaviour is crucial in the privacy-first world. With a CDP, you can track essential KPIs and gain insights into your campaigns, helping you optimize your efforts for maximum impact. In today's world, tracking has become more difficult - so it's key to expand beyond the walled gardens of your beloved agency or typical advertising platform...doing this will make you shine in the board room.
5. Future-proof your business
CDP's are the fastest-evolving species in the constellation of Martech. Investing in a CDP prepares your organization for the ever-evolving privacy landscape. As regulations tighten and customer expectations evolve, a CDP ensures your business remains agile and adaptable.
By investing in a Customer Data Platform, you're not only embracing the privacy revolution but also empowering your organization to unlock its full potential.
Enjoy the list and knock yourself out! (and your competitor).
Welcome to the revolution.
(P.S.: we will soon update this list and add the functional must haves for each use case so you can make technology and solution design decisions with confidence)