Corporate Preferred doesn't apply to you as such (like status normally does). It applies to any tickets that you book for business travel via your corporate travel agency.

Some of the benefits are better than you get with status (eg, some of the reaccommodation/waiver options depending on what level of Corporate Preferred your company is).

Some of the benefits are not as good as you get with status (eg, preferred seat selection, but not E+ selection).

Some of the benefits work in conjunction with your status (eg, tie-breaker for upgrades - your status gets you on the upgrade list, but corporate preferred might help improve your location on the list).

Presuming you don't have any status, the main benefits you you will likely be the ability to select Preferred seats (those behind E+, but not E+), and the ability to board with group 2. But again, this will ONLY apply on business tickets, not any personal tickets you buy.