Data management platform pricing and buyer’s guide
- Data Management Platforms – what are they?
- Is a DMP right for my business?
- What to take into account in choosing a DMP provider
- DMP buyer’s guide – how does the purchase process look like?
- DMP comparison – 7 key functionalities you need to check before you buy a DMP
- DMP pricing – how much does a DMP cost?
- Where to look for DMP market opinions
- Choosing the right DMP provider and DMP pricing – conclusion
Data management platform pricing plans depends on features. The platforms help marketers collect and manage data to make data-driven decisions and increase sales. Advertisers invest in DMPs - in 2018 US marketers spent nearly 5 billion dollars for data management solutions, which is +25% growth. And 24% of marketers are going to spend budgets on DMPs over the next 12 months.
So how do you choose the best data management platform and how much does it cost? This DMP pricing and buyer’s guide will help you make a more informed decision and find the right platform for your company.
Data Management Platforms – what are they?
Before we get into the details of a DMP pricing and costs, let’s go over what a DMP does exactly. A Data Management Platform (DMP) is a tech platform used for collecting and managing data from various sources, mainly for digital marketing purposes. It helps marketers to create audience segments that are used for precise targeting in online campaigns.
Using DMP helps marketers to reach the target audience, segment users, send them personalized messages, analyze their profiles, and in result – increase sales and improve marketing results.
Is a DMP right for my business?
DMPs are designed for all companies that store data and want to make profits from it. The technology is extremely useful for advertisers and agencies – it is used to increase the efficiency of ad campaigns and make the targeting even more accurate.
If you need to manage large sets of audience data, a DMP is a great tool for you. It is commonly used in the e-commerce sector and also by publishers, media houses, marketing agencies and all companies which want to significantly extend their target groups.
What to take into account in choosing a DMP provider
If you are interested in using a DMP, familiarize yourself with the most important criteria in choosing the right DMP provider.
What is crucial in selecting reliable DMP provider who can give you valuable advice and offer technology tailored to your business’ needs?
1. Research DMP providers and contact them
First of all, after checking the information on the website of your potential DMP provider, just contact them. Start talking about your business and your marketing needs. The provider should discover what functionalities you need to succeed and should be an advisor for you in choosing the right technology. Talk not about the platform but your company and what you want to achieve.
A good salesman will find the right solution for your problems and propose how a DMP will help you develop your business. So the thing you need to discuss is not the technology at the beginning but your business and your needs.
2. Ask about functionalities
Secondly, there should be an easy way to check how the DMP works in practice. Before you make a decision, you need to check how the platform looks like, what functionalities it offers and how to use it to improve marketing and sales in your specific market.
This is a perfect time to verify the knowledge of the data provider representative you’re dealing with. Don’t worry, you don’t need to be an expert. A good salesperson will explain to you in simple words all the technical aspects of a DMP and show you how to use the platform effectively.
Remember, ask about anything that comes to mind. Treat your potential providers as experts from whom you want to learn. It’s important because you may cooperate for a longer time if you decide to purchase a DMP.
3. Get a demo of the DMP you’re interested in
The final step of your contact with a data management platform provider should be a demo presentation of the platform. Note how the dashboard looks like. Is the interface is user-friendly? Is the information about users is easy to find and manage?
You will use this technology to manage big data sets, so pay close attention to usability and ask your provider if ongoing support is guaranteed.
DMP buyer’s guide – how does the purchase process look like?
While we are at “choosing the right data provider” phase, let’s take a closer look at how the sales process usually looks like. We can point out the 5 main steps:
1. Leaving your contact information on the company’s website
2. A short call or email from the DMP provider about your needs and funcitionalities and benefits of using a DMP
3. A short demo presentation of the platform
4. Negotiating the pricing plan and purchase decision
5. Implementation of a DMP in cooperation with the DMP provider’s team
On every step of the purchase process try to ask as many questions as you need. Get to know how a DMP will work in your industry, what types of data you can collect or what kind of online behaviour you should follow to find new sales opportunities.
How long does the process last? Of course, it depends on the case but it can take from a few days to a maximum of a few weeks.
If you are sure that you need a DMP and you’re just looking for the best provider, the sales process should be fast and quite easy. You know what you want, so you’re looking for the right product.
On the other hand, if you are considering purchasing a DMP, the process will take a little bit longer. You’ll probably need to properly understand how the technology works, learn some basic terms, such as 1st, 2nd and 3rd party data, DSP, SSP, segments, data points, etc. And then you need to ask yourself how the technology that is based on data collection and management could help you develop your business.
In this variant, the purchasing process can last even up to a few weeks. And the really important thing is to talk with a good expert on the provider’s site, who can give you valuable advice and discover your business needs.
DMP comparison – 7 key functionalities you need to check before you buy a DMP
After you select a few data providers you need to consider which DMP functionalities are crucial for your company. Before you go and compare Data Management Platform pricing, find out if they offer the same features.
You can use our checklist, which can be really helpful in finding the right platform.
1. First Party Data Activation Fee
1st party data is the information you collect from your own digital sources. If your web traffic is huge, it is important to have unlimited 1st party data impression guaranteed.
Many providers offer just a limited amount of impressions and you need to pay if you’ exceed the limit. Look for providers, where 1st party data activation is completely for free.
2. Look-alike Activation Fee
Look-alikes are profiles of your best client’s digital twins. A DMP helps you to find users similar to your best converting customers. The service is usually paid (in CPM) but some providers deliver it for free. If you want to extend a group of your clients, look for a DMP provider who guarantees free look-alikes.
3. Raw Data
Raw data is a type of digital information which hasn’t been modified yet. You can receive raw data, such as timestamp or history of online behaviour to find out how your users behave online, outside your website.
If you have a data scientists team, raw data provided through a DMP is a valuable source of data for them to develop big data tools, create segments, detect frauds or save money in remarketing campaigns. Find out how to use raw data to improve marketing – visit our Data Stream site.
4. 3rd Party Data Impressions
3rd party data is information that is collected and delivered by your data provider. They are divided into segments, such as Automotive Fans or Age 24-29. Usually, you pay for purchasing this type of data but some DMP providers give a discount for a data or impression package.
Ask about it, if you want to reach an external audience, e.g. from different markets or if you are looking for a new target group.
To learn more about 3rd party data - check how to use it.
5. DSP export
If you store and segment users’ data, the next step is to reach them in your campaigns. To make it possible, you need to export your data to a Demand-Side Platform (DSP), where you can run the campaign.
The process of licensing your data to a DSP can last up to 24 hours. You can always ask your DMP provider how fast the data can be delivered to chosen DSP and if their DMP is integrated with a DSP that you use.
6. Mobile Data Import
Not all DMPs allow you to store and analyze mobile data. So if your business relies on mobile data, pay attention if the DMP enables you to store that kind of information. Usually, you can upload your mobile data manually but ask your provider just to be sure.
7. Analytics & reports
DMPs allows you not only to collect and manage audience data but also to analyze users’ profiles. You can check their interests, demography or purchase intentions. Not all DMPs offer you analytics services but some of them give it for free.
Check how much time it takes to create analytical reports and ask if you can do it by yourself. The best way to create a report is to do it immediately and on your own. Find out how you can create an Audience Report with OnAudience.com’s DMP.
DMP pricing – how much does a DMP cost?
When you know which DMP features are crucial for you, the next step is to ask about the price. There are a lot of functionalities that DMPs can have or not, so prices can vary.
Even one data management platform provider can have a few pricing plans that can be tailored to your business needs. So asking the question: “how much does a DMP cost?” is not easy.
A DMP is a technology that you invest in to generate revenue from your users. So you can calculate the ROI before and after using a DMP. Usually, the market price of a DMP starts from 1,100 USD and can hit 6,000 USD monthly (or more).
Some providers add an implementation fee that is equal to one monthly payment. In most cases, you need to sign an agreement for a minimum of twelve months.
The Data Management Platform pricing plans depends on features, chosen functionalities and your business needs so the best way to check the price for your company is to ask about it. In many cases, it can be negotiated, so it is a good move to start talking about price with your chosen providers.
OnAudience.com has three pricing plans so no matter how small or large your audience is – you’ll find one that’s right for you. To find out more, leave your email on our DMP pricing page to find out our monthly fees.
Where to look for DMP market opinions
If you are not sure which DMP provider to choose, a good idea is to check reviews. There are several websites where clients rate the technologies they use. Here you can find two of the most popular websites with DMP reviews:
G2Crowd - a very popular website, where you can find a lot of comments and ratings of DMPs. Users share their opinions, such as what did they like the best, what did they dislike or what problems the product solves. You can also check DMPs ratings in categories such as data integration, data export tools, audience segmentation or performance and reliability.
Capterra - another service where you can read reviews of DMP providers. Ratings are divided into three main categories: Overall, ease of use and customer service. Here you can find dashboard screens, a list of the main features and basic info about the DMP provider.
Choosing the right DMP provider and DMP pricing – conclusion
Choosing the right DMP provider is not a fast and easy process but if you take into account a few points that we discussed in this article it should help you a lot. First - try to define your needs. If you know what you want it is much easier to find the right DMP.
Next, after you choose DMP providers, check if they are reliable business partners - if the sales process is clear and check if salesperson act as a professional advisor and want to truly understand your business.
Secondly, verify the functionalities of the DMP. You can use our list of 7 key functionalities for a DMP to check if the technology will meet your expectations and to be sure - ask for a free demo.
Finally, visit G2Crowd or Capterra websites to check market opinions about a DMP provider. If the rating is satisfying for you, ask about the DMP pricing and choose the best offer you’ll get. Following this purchase process should help you choose the best DMP platform for your business.