Is a CDP right for you?
Is a Customer Data Platform (CDP) right for your business?
The Chief Marketing Officer’s job has changed greatly in recent years. Not so long ago, goals were tied to hard-to-measure terms like brand value, most time was spent developing and buying advertising, and technology was barely present. Today, CMOs are expected to drive measurable improvements in revenue, are responsible for all aspects of customer experience, and spend more on technology than paid media, staff costs, or outside agencies. It’s little wonder the average CMO tenure is half that of the CEOs they report to.
If there’s one key to success in this new world, it’s customer data. Marketers need data to power their marketing technology, to drive better customer experience, and to tie results to revenue. And while good data alone won’t guarantee success, poor data can make failure inevitable.
This paper will take a closer look at the connection between data and revenue and at how a new class of system – the Customer Data Platform – can help bring them together.
The CMO’s World
- 74% say marketing is primarily responsible for martech management
- 73% say marketing is responsible for customer experience
- 64% say their demonstrating the impact of marketing on financial outcomes is their greatest C-suite communication challenge
- 53% say increasing revenue is management’s expectation for marketing
- 29% of marketing budget is spent on martech
- 3.6 average CMO tenure vs 7.2 year average CEO tenure