IncrIncrease yease your CLour CLVV.. PrPreparepare fe for the futuror the future.e. Without a full view of your customers, their experience with Why is 2023 the year you need to invest in a CDP? Your you can be fragmented and can cause a poor user experience. business likely thinks about expanding to new markets or A CDP can help improve your customer lifetime value (CLV) by products in the near future. Why would you not think about providing you with a more comprehensive and accurate view of making the same investment in your customer data? your customers, which can help you create more targeted and Year after year, marketers are being asked to do more with personalized marketing campaigns. This can lead to improved less. You need to focus on how you can break down silos and customer satisfaction and brand loyalty, which can, in turn, make as much of your work as possible less time-consuming. increase your CLV. This helps you and, ultimately, helps the company increase its overall operational efficiency. A CDP can help you segment your audience based on various characteristics, such as demographics, behavior, and interests. The ability to see a 360° view of your customer with a CDP will This allows you to create more targeted marketing campaigns increase your ability to create more personalized offerings, that are tailored to specific segments of your audience, hence improve targeting and improve return on investment. And as improving the effectiveness of your marketing efforts. You will data governance increases in importance, having a tool like a create more personalized customer experiences using a CDP, CDP will help you be better prepared for any compliance issues such as personalized emails or product recommendations, and or data laws that you may need to react to. improve customer satisfaction and loyalty, leading to increased CLV. Longer term, purchasing a CDP (vs building one) allows you to focus on actually using additional functionality instead of When it comes to analyzing the performance of your marketing trying to scale an internally-built platform. You only need to campaigns, a CDP will help you better understand your connect to one platform as new communication channels arise, customers’ behavior and preferences. In turn, this can help which can be difficult with a homegrown solution. With rising you identify areas for improvement and make more informed technology costs and full-suite solutions having been the decisions about your marketing strategies. When your norm, you will be better armed to negotiate stronger contracts, marketing is better suited to your different audiences, they will with the data in your CDP as leverage for more flexibility — or feel more loyal to your company and continue to do business even migrate off tools with redundant capabilities. with you. stitch.cx | 8