Why do you need a Data Management Platform?
For digital marketers, Data Management Platform is like a command center. By using the technology you can gather all customer data and use it to boost sales and improve brand experience. What can you achieve by using DMP in your business?
Data Management Platform for beginners
If you’re just starting your adventure with DMP you need to know how it works and how you can make profit from using this technology. Basically, a DMP it is a powerful technology that helps you manage all the data you collect, both online and offline to use it mostly in marketing activities.
As a marketer, you probably use at least a few analytical tools, so why should you be interested in learning the new one? If you spend a little time on understanding how DMP works, you can improve your marketing efforts and also replace several tools by one powerful platform. Let’s take a closer look why the DMP could be useful in your business.
1. Collect and integrate all your data on DMP
We generate tones of data every day. According to DOMO’s report it is 2.5 quintillion bytes daily. To make profits from the tsunami of data you need powerful tools to analyze and manage growing sets of data. Data Management Platforms makes it easy to collect data from various sources. What’s more, you can integrate the data from your websites, mobile apps and offline sources, such as surveys, to create 360-degree customer view.
What’s important, on DMPs you can analyze huge data sets, while other analytical tools has various limits (e.g. capacity of processed data). DMP platforms are also multifuncional. So that, you can replace many small tools with one powerful technology. Managing all your data or creating effective marketing campaigns is much easier then.
2. Use big data analysis to deeply know your users
Collecting users data is the first step. The next one is to analyze your customers’ profile. DMP uses machine learning algorithms to infer on the basis of their behavior. You can discover your audience interests, intentions or demographics which is really helpful in delivering tailored messages to the right groups.
Thanks to data integration, you can fill the gaps in your users’ profiles. If you collect an email from a mobile app and integrate it with information about interests that you gathered via the website, the view of your client is much more clear. You can analyze what will be catchy for your users and conduct campaigns that are engaging for your audience.
Some of Data Management Platforms enable marketers to prepare live reports. By using OnAudience.com DMP you can generate the document about your users, which includes the most popular interests, age groups, purchase intentions and the Affinity score. It shows you which attributes are significantly more popular in your group than in other one, e.g. among the whole nation. That lets you find the most important qualities of your target group and focus on it in upcoming campaigns.
3. Segment your clients on DMP to improve your marketing efforts
When you collect all your data from many sources, you can easily segment your customers to try various marketing techniques on your audience. To build your best audiences you can mix event and attributes through AND, OR, NOT operators.
Why it is important to segment your users? It is directly connected to your marketing effectiveness. Segmenting your users, let you build audiences for specific markets. For example, if you are an electronics company, you can create a group interested only in computer games or a group of users who are looking for a large 4K TV. If you know their profile and have them segmented into two groups, you can deliver them completely different ads which improve your effectiveness.
Your imagination is the only limit in audience segmentation. What groups do you need to separate? Which attributes are crucial? Experiment, try various techniques and find out what works the best for your business. If you want to learn more check what is customer segmentation and how to use custom segments.
4. From DMP to DSP: licensing your segments to global platforms
After you create segments on your DMP, you can license it to global DSPs for two reasons: to monetize your data or to reach your target audiences. Both cases can boost your business growth.
Monetizing data is the way used mostly by publishers but every entity that owns a website or app can sell collected data and open new revenue stream. By using DMP it is quite easy, but the trick is how to create a segment that will be popular on DSP platforms. The more demanded segment, the higher the income you can generate by licensing your segment to DSP and offering it on the global data marketplace.
The other case is to license segments in the aim of targeting the right group of customers. If you create the right audience, you can easily reach them deliver accurate ads. For example, if you created segments for German and UK customers, you can send them ads which include offers that are available only in these countries.
What’s important, you can choose if the licensed segment will be visible only for you or for all marketers who use DSP.
5. Run personalized campaigns
Licensing segments do DSPs gives you also another big profit: you can create highly personalized ads and improve engagement of chosen audiences. How does it work? After you create a custom segment on Data Management Platform, e.g. Jazz music lovers interested in Automotive segment, and license it to DSP platform, you can easily target this group of your customers and deliver creative and highly personalized ads.
Of course, the special custom segment you’ve created can be visible only for you, so you can be sure that the segment will be used only by your company.
Why personalized ads are worth investing in? According to Rocket Fuel study, 80% of Millennials see value in brands engaging them with personalized advertising and offers. Segmenting your audience and delivering them creative, accurate ads is a way to improve your marketing efforts.
OnAudience.com is one of the world’s largest data providers. Its DMP is integrated with the global DSPs, such as Oracle, DoubleClick or Adform, so you can run campaigns to customers from all around the world. Our company also process over 27 B users profiles, so you get access to clients from almost every market you choose.
Our experienced team of Data Scientists will help you to implement DMP in your company and explain how to configure it to generate maximum profits in your specific business.