Data Management Platform (DMP) – A Better Way to Audience Management

A Data Management Platform (DMP) allows you to prepare your list of target viewers on the basis of a deeply analyzed first-party and third-party audience data. It helps to target campaigns accurately to the right audience in third-party ad exchanges and ad networks. It also accurately measures which campaigns made best performance across different channels and helps to prepare more focused media buying over time.

DMPs offer a holistic solution to audience management. They can universally connect all data relevant to a digital marketer. DMPs are software-driven data warehouses that receive, sort and store information, and distribute them to benefit publishers, marketers, and different digital businesses.

Fig 1: How DMPs integrate and service data

But, do you as marketers need DMP?

If you want to do any three or more of the following activities, you need a DMP.

1. Buy third-party data and media placements
2. Bid on ad exchanges regularly
3. Be fully in-control over your data assets and monitor what’s in use by the partners
4. Prevent data leakage and maximize channelization
5. Increase the potential of messaging, niche targeting and scalability of your retargeting
6. Target campaigns better to enhance brand recognition, response rates and conversion
7. Manage multiple campaigns online, on various kinds of ad exchanges, publishers and networks
8. Manage costs in advertising and improve revenue generation

With successful implementation of DMP, brands can easily retarget their campaigns based on specific audience behaviors. You can easily integrate with source of the third-party data to collect anonymous data and prepare precisely targeted campaigns. You may use data to understand what customized content will suit the target customer. You can compare and contrast your visiting audience against the acquired data sources and understand audience behaviors specifically for increased conversion rates. And, you can use centralized analytics in media performance to understand which audience took action and where you should try again.

For better audience management and audience targeting, marketers, agencies, and publishers, all have used the DMPs. All platforms use the DMP technology to create a huge pool of data and better understand audience information for effective value extraction.