Retailers must utilise CDPs

New Ideas in MarketingEssential news for marketers, summarised by YouGov
April 26, 2021, 5:42 PM UTC

CDPs can empower retailers with customer insights while also helping them monetise their data.

Studies show customer data platforms (CDPs) have provided retailers with better data intelligence and cross-channel marketing abilities. Retail giants such as Amazon, Walmart and eBay are already achieving billions in sales through their CDPs. Levering CDPs can help retailers harness vast volumes of untapped information about buyers in a way that "turbo-charges revenues."

CDP's can inform brands about customer buying behaviour and help companies personalise product and service offerings. These platforms can also help companies learn more about their customers based on their purchase intent and journey.

Customer data platforms let retailers and their partners create an ecosystem that encourages build mutually beneficial customer relationships. It can also provide retailers with deep and granular consumer insights in near real-time.

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