Many marketers are now turning to customer data platforms (CDPs) in order to reap the full benefits of their analytics. However, new research suggests that not all marketers have been successful when it comes to assembling CDPs and implementing them in their strategies.
The Customer Data Platform Institute recently published the “Understanding CDP Users: CDP Institute Member Survey 2019” to provide more insight into how marketers are using CDPs, as well as where there is room for improvement. Statistics showed that more companies have many disconnected CDPs (43 percent) than any other architecture. The majority of respondents (63 percent) cited the inability to assemble unified customer data as their top challenge.
By turning to a CDP, most respondents (86 percent) expect to create a unified customer view. Other benefits they assume they will see include improved predictive modeling and recommendations (59 percent), improved message selection and personalization (49 percent) and improved orchestration of customer treatments across channels (49 percent).
Despite Challenges, Marketers Continue to Turn to CDPs
Despite some of the struggles associated with developing and implementing a CDP, this is not stopping marketers from turning to this form of martech, according to previous research.
London Research conducted the “Customer Data Excellence” report in partnership with BlueVenn to gain more insight into how marketers are utilizing CDPs to provide a better customer experience. Statistics showed that the majority of companies (51 percent) are already using a CDP.
About 35 percent said that although they are not using a CDP, they have plans to do so in the near future.