Lots of interesting reports this week. PR agency Walker Sands and Chief Martec Scott Brinker issued their third annual State of Marketing Technology report, which is always full of useful information. Most interesting from a CDP perspective was a table showing 63% of responders said they have a CDP in place. Not likely but still a sign of how popular the term has become.
CMO Council is another reliable source of good surveys. They just published a 107-page behemoth on how well companies are using their data. The short answer is, not very: most are spending money on data management tools but few have seen significant return on their investment. Marketers listed lack of a single customer view as their biggest obstacle to gaining value from data.
Integration platform SnapLogic put a dollar value on companies’ data tech investments and the benefits of success. They found the average business will double its spend on data activation to $1.7 million in five years and expects to add $5.2 million revenue in return. Customer data was ranked as most valuable by 69% of respondents, far ahead of IT data (50%) and internal financial data (40%).
The CDP Institute educates marketers about the issues, methods, and technology used to manage customer data, with a special focus on Customer Data Platforms. Join the CDP Institute for free access to valuable information and insights.