CDPs: A Revolution in MarTech
Nonetheless, the results of a well-thought-out CDP integration speak for themselves.
Annual performance findings comparing ROMI for CDP and non-CDP users among large enterprises found a 9% higher customer satisfaction and 8% greater customer lifetime value (CLV) for the former group. Conversely, non-CDP users suffered a 7% decrease in customer retention compared to a 6% jump for CDP users.
A Japanese home and lifestyle retailer merged online browsing data and in-store purchase history to build actionable customer profiles via a CDP, allowing them to offer highly-personalised coupons and timely, well-targeted in-app push notifications. That approach led to a 100% rise in coupon redemptions across all store locations, increased CLV, higher foot traffic, and a 46% boost in revenue over a two-year period.
Success stories like these are a big reason why the adoption of CDP solutions is anticipated to grow from $2.4 billion to $10.3 billion by 2025.
CDPs can add value to a MarTech stack in three key ways: