Big names in advertising technology (adtech) and marketing technology (martech) are leaning towards various channels that can integrate different shopping channels, it is used as a method to define, implement and measure the reach of their marketing strategy and media spend. An important role for Adtech and martech players is offering delightful experience to customers in both the paid and owned media. They also need to obtain meaningful insights and get a clear pattern of customer behaviour from start to end of a particular lifecycle. An ideal DMP platform offers leverage to all the Adtech and martech players by offering optimized ad spend, better acquisition rates and most importantly it will lead to reaching the right audience based on their real-time behaviour pattern.
Data management platform (DMP) has a significant role to play in profiling, analysing and targeting online customers in a digital marketing environment. To put it bluntly, the platform has become the backbone of all the online advertising operations, in the rapidly developing digital economy this platform is vital if you are planning to stay ahead of the current. Centralised storage of all the data is what DMP is, gather data will be perfectly segmented and analysed before put into to test with the marketing strategy. The platform is designed to collect data from various sources and analyse them for forming deeper insights and the analytics obtained will deliver actionable data. All the data points obtained will help in understanding the audience. The platform offers a simple process to create target audience with the help of all the data received from various sources, can efficiently target audience across various ad networks and ad exchanges and measure the performance of the campaigns in each and every segment it has been used in.
Implementation of DMP can play a significant role in creating custom advertisements for audiences, self-serve audience targeting, impression prediction, real-time data analytics, the sale of data directly, managing and privacy management. It also offers opportunities that can help in closing the gap between Adtech and martech ecosystem.
Data management platform-Use cases
Optimize media spend and offer Omni-channel consumer tracking
Marketers are looking to improve ROI by optimized digital marketing spends and allocating the right proportion of budgets to the right channels, all these steps are targeted towards improving ROI. Data Management platform offers various options to optimize media spends, it helps in Omni-channel customer tracking and also it helps in tracking of such a journey over a specific period of time prior to the date of conversion. All these insights will contribute towards knowing the customer journey better and it helps in actionable insights for future marketing spends.
Deliver personalized content
In the digital ecosystem, all the marketers are focusing towards serving personalised ads according to consumer interest, ads are delivered based on their profile, activities and exposure to ad campaigns. DMP can play a vital role in this operation. It can deliver or not deliver creatives based on their profile across various platforms. With the help of DMP digital profiles of numerous customers can be linked under a single roof and it helps in integrated marketing that shows different ads or content based on their intent. These methods help in reducing advertising costs by targeting ads to the right consumers who are more likely to convert. Customers can be served ads based on their personal experience and they can be targeted and retargeted depending upon their campaign exposure.
Attribute modelling
The platform provides a perfectly segmented audience data based on similar audience behaviour from all the collected user data. It enables the process to be executed manually or the system can recommend and create such automated models. With the help of interest based model, it is easy to identify the interested audience group instead of targeting the whole base. All these data obtained can help in identifying the audience with a similar behaviour pattern and it will make it easier for delivering creatives to a similar set of audience group. It will be very effective during the retargeting for getting more conversions in the future.
Marketers benefits by using DMP
- Targeted and effective campaigns and promotions.
- User behaviour, intent and campaign to deliver cross-sell campaigns.
- Scale audience engagement effectively and efficiently
- Enhanced user engagement in web and mobile properties.
- Integrated reports on all media channels.
- Take advantage of audience segment for cross-device and integrated marketing
- Retain customers with better retargeting campaigns.
Publishers benefits by using DMP
- Monetize audience data and create a new stream.
- Estimate audience reach across various channels.
- Better cross-device marketing
- Better ROI
- Enhanced yields with more targeted ads.
Benefits business
- Attribution based market spending
- Deliver personalised ads based on customer behaviour
- Better revenue graph by monetising data
- Much reduced cost per acquisition
- Improved conversion rate
- Improved CTR and audience engagement
- Greater sell-through of digital inventory
Conclusion
With the increasing awareness about data management platform, the big players in the advertising environment are focusing on a perfect solution that can locate, target and understand the audience. With the right DMP, the ability to acquire the right data and perfect insights about audience has grown tremendously. The platforms provide marketers with a clear picture of audience understanding and their behaviour pattern. With all these data, it is made sure that correct personalised ads are delivered to the right group of audience.
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