Before we get into the benefits of using a DMP (data management platform), what exactly is it? In simple terms, it brings in a lot of data from a variety of first, second and third-party data sources. It then organises and interprets customer segments, affinities and behavioural data.
Why is that useful?
- Streamlined data
In today’s marketing landscape there are a lot of sources where marketers can gather data – email database, e-commerce database, CRM database and many more. Using a DMP can ingest all that first-party and second-party data so you have one cohesive view of your customers. This can then help you identify new lookalike audiences.
- New Target Audiences
A DMP can find you new audiences using lookalike audiences and audience extensions. Lookalike audiences are those that match your existing audience’s key behaviours and attributes, it uses machine learning to find these new audiences that are likely to interact with your business and convert. Audience extensions use third-party data to find further customers across the internet who fit the outline and targeting you specify.
- Cross-device campaign management
Using DMP software will allow you to match profiles of your audience across devices. No matter if your audience is on the mobile, laptop or even smart TV, you can reach them at the right time on the right screen. It also means that you can gather information on your audience no matter what device they are using and match it up to one consumer profile. Giving you a better idea of how they ingest media.
- Increased Revenue
Using a DMP gives insights into many different data points of an ad campaign. It helps you to more accurately target your ads to the right audience which therefore leads to higher click-through rate, higher engagement and higher conversion rates. Hence, a higher conversion rate usually means traffic coming to the site is more likely to spend. Also meaning there is less media spend wastage.
Interested in how a DMP can help your marketing efforts? Contact us today to learn more.