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Data Management Platforms: Enabling Better Business

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Data is at the core of all marketing and advertising operations today. Without it, companies would have no direction, let alone any edge over competition. They all know it, but only a few understand. For others, there are data management platforms (DMP) to help marketers and publishers make sense of it all.

A data management platform is like a data warehouse software that houses and manages information (for example, cookie IDs) to assist in tasks such as generating audience segments and targeting clusters. Advertisers today communicate to a number pf publishers and buy media across a huge range of sites. DMPs collate information on all those activities in a centralized location and use them to optimize future media buys and ad requirements. Essentially, using a DMP is all about better segmenting, profiling and targeting customers. An enterprise DMP can scale millions of data points and offer marketers insights on a host of market and campaign variables.

What do DMPs offer? The benefits:

  1. Prospecting: DMPs seamlessly integrate with third-party customer data. This way, they help in achieving higher accuracy and scaling better with targeted campaigns.
  2. Re-targeting: Businesses can analyze buying records, browsing behavior and customer profile, among others, using DMPs. Using online and offline variables, they help in implementing customized re-targeting campaigns.
  3. Audience segmentation: DMPs allow marketers to create several granular as well as broad segments. This way, marketers are able to reach out to audiences with the right message at different stages of the purchase cycle.
  4. Optimized site content: By using third-party data, DMPs gauge customer profiles and offer personalized content to users when they visit the brand’s site.
  5. Analytics: With DMPs, companies need not maintain cumbersome excel sheets. DMPs have inbuilt dashboards that provide measures and compare campaign performance across channels, give insight into audience interaction, etc. These reports help marketers optimize and channelize marketing efforts in the best possible way.

 

Of brands, customers and ROIs

New brands are growing by the day, and making the marketplace even more cluttered. So much so that consumers are now developing a ‘blind-spot’ for advertisements. Hence, it is of supreme importance that marketers channelize their efforts in a way that the right message reaches the right people; people who have a high possibility to earn value by investing in the brand.

DMPs help marketers effectively analyze all their disparate audience and campaign data, allowing them to make better media buying decisions, target prospects, and offer personalized content leading to higher brand awareness and conversion. With DMP capabilities, brands can judge the effectiveness of marketing efforts and optimally alter and implement them. Such platforms also help brands to better connect with consumers by setting in place a platform to reach out for quick customer service. All in all, it is a win- win situation for marketers; with access to valuable business insights, they can reduce wastage of resources, scale operations and ultimate earn a higher ROI.

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