Customer data platform (CDP) users are currently leveraging these technologies for a variety of use cases, from campaign personalization (59%) to audience segmentation and targeting (56%), marketing ROI measurement (51%) and unification of data, identity resolution, and maintenance of customer profiles. So finds a study [download page] from Treasure Data conducted by Advertiser Perceptions among 100 US-based martech decision-makers from companies of 1,000+ employees who use CDPs.
On average, organizations derive value from their CDPs in 8 months, per the report, which may be encouraging news for the sizable share of marketers who plan to invest in one.
The research indicates that CDP use cases evolve over time, as do the benefits that accrue from their use. The current benefits that are most often cited by respondents are enhanced reporting and measurement (50%) and a better understanding of the customer journey (48%). However, the future benefits that the largest proportions hope to reap include the ability to get advanced insights via machine learning (46%), less reliance on IT teams for managing customer data/customer databases (43%) and improved first-party data ownership (40%).
Overall, when summing the current and future benefits of CDP use, improved marketing efficiency and return on marketing spend rises to the top as the leading benefit, as cited by 86% of respondents.
Separately, when selecting a CDP, respondents cited data security as their most important consideration, with 95% rating it “very important” (68%) or “somewhat important” (27%). Data privacy/compliance also figured as important for almost 9 in 10, in line with respondents to a recent study [download page] from Tealium, who cited the protection of customer data privacy and compliance with security regulations as their most valuable CDP feature.
For more, download the study here.
