What use cases a CDP helps fulfill
What use cases a CDP helps fulfillCDPs help with all phases of the customer lifecycle, from acquisition to cross-selling to retention and win-back. This ability to improve experiences within all stages of the lifecycle explains why 68% of high-performing companies have a complete or near-complete view of their customers compared with just 18% of underperforming companies.
For example, a customer acquisition team can decrease their acquisition costs by using the CDP to inform advertising channels like Google, Facebook, and TikTok that someone has already purchased an item. This enables them to stop wasting precious advertising dollars trying to get that customer to purchase. Another example is how a CDP can identify at-risk customers and send them through a series of re-engagement communications to increase their loyalty. All that being said, the CDP’s ability to create a unified view of the customer (or access an already-existing one) enables its intelligence, segmentation, and activation capabilities to enhance all phases of the customer lifecycle.
