Don’t Rely on Your Instincts, Rely On Data: Using DMPs and Data to Make Business Decisions

The digital marketing landscape has transformed over the past 10 years. Brands face more competition than ever and retaining business through digital marketing now depends on the ability to communicate with individuals at the right time with a relevant message. This is only possible though having enough data about each individual and the technology to leverage that data.

DMPs (Data Management Platforms) and programmatic advertising have made this possible, but organisations tend to fall into the trap of focusing on programmatic advertising. Yes, programmatic provides the ability to deliver this advert to that person, and that advert to this person, but it’s only in combination with a DMP that intelligent, personalised one-to-one interactions can take place. This combination allows a business to make truly data-informed decisions.

Data-informed decision making

Data-informed decision making is exactly what it says: decisions made on the basis of data. DMPs are able to gather and organise huge amounts of data and deliver relevant and actionable insights and decisions in real time. These insights can then support a marketer’s programmatic decisions.

Essentially, data-informed decision makes make programmatic more accurate. But it doesn’t stop there. DMP insights can be actioned across channels, not just display advertising, but social , video on demand, and addressable TV. And it doesn’t stop there. Marketers can use DMP insights to create more accurate e-mail campaigns and organic social engagement and manage the customer journey on a website. With DMPs constantly gathering data from every channel and outputting real-time insights and decisions, marketers can take control of the marketing process and customer journey like never before.

What the future holds

Marketing campaigns as we know them will soon be dead. The focus will switch to long-term, ongoing interactions, or in other words, the customer experience. No more finite time periods with set objectives to hit; marketers will have to build logical systems to treat certain customers in certain ways at certain times, according to whatever the business is trying to achieve at that point.

Media spend efficiency: an example of what kind of business decisions DMPs assist

DMPs will drive media spend efficiency. DMPs will gather data from a variety of sources: 1st/2nd/3rd party, social and offline. The DMP can then create an audience based on the “target” customer and media activity is being aimed at. Next, publishers can be whitelisted and blacklisted in accordance target audience, and later, based on which websites which work particularly well. The pool of potential customers can be slimmed down to remove any unwanted targets (under 18s from a betting product, let’s say), and existing customers can be removed so they’re not targeted by ads aimed at new customers. Once the campaign starts, it can be managed in real time, channels can be optimised and success can be measured. All this results in a more efficient media spend.

This is just one example of how DMPs can help business decisions. To find out more, why not ask how ReklamStore’s DMP can help you business?

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