As marketers continue to integrate more technology into their strategies, new research indicates that customer data platforms (CDPs) are already showing a positive return-on-investment (ROI) for many.
Tealium recently published its “2022 State of the CDP” report, and statistics suggested that about 70% of marketers who have invested in a CDP saw positive ROI within six months. Furthermore, 96% claimed that they saw a full return on their investment within 12 months. In general, most marketers (35%) expect to see ROI from a new marketing technology (martech) solution within four-to-six months.
Approximately 59% of marketers claimed that they originally invested in a CDP to enhance customer data privacy, while 54% did so to provide more personalized customer communication. Nearly 51% wanted to offer a more unified customer experience.
Measuring the Effectiveness of Marketing Technology
Although CDPs appear to be benefiting some marketers, previous research suggests that martech stacks have not been widely helpful in general.
Ascend2 conducted “The Outlook on Marketing Technology” report, and data indicated that most marketers (72%) believe their martech stack has only been “somewhat successful” at helping them achieve their strategic goals. About 6% claimed that it has not been successful at all.
That being said, 22% of the best-in-class respondents claimed that their martech has been “very successful” in helping them reach their primary objectives. About half of marketers also said that they intend to dedicate up to 20% of their marketing budget toward martech this year, suggesting that they still see its potential.