It’s easy to be flummoxed by the volume of tech in digital marketing today. Whether its a groundbreaking invention in analytics software or a revolutionary approach of new ad servers like Flashtalking, even the most experienced marketers can feel overwhelmed on where to start.
This is where Data Management Platform (DMP) can help. This technology is a vital cog in the digital marketing strategy due to its ability to collect and segment incoming user data into pools to make incisive strategic decisions.
So, how does it all work?
Within the DMP platform, you will generate two codes which look very similar to these:
These would then be implemented into your ad server’s campaign settings as impression and click event tags respectively, enabling you to pull in the data for future utilisation. From here, you would map the names used within your ad server in the DMP so that the signals are firing within the third-party platform. This allows you to ensure that all data is unified between the two systems. Segmenting the data enables you to group pieces together, based on their similarities, to improve your retargeting strategy.
As an example, if you are trying to sell an Ed Sheeran t-shirt, you could use a DMP to group location, sex and behaviours together and create a list that targets Birmingham-based, male listeners of the artist on Spotify. What businesses can achieve through the use of DMPs is extremely exciting and leads to the creation of relevant and engaging content. Here are few more examples that highlight how utilisation could be the start of impressive results:
1. Intelligently Retarget Those Who Got Away
A DMP allows brands to examine analytics insights to create copy that better targets audiences. Use the data from the DMP to engage with those who may have left previous creative without engaging or interacting. By grouping all of these people within the DMP into an audience pool, brands have the opportunity to offer content that is more likely to lead to engagement and a higher ROI.
2. Grow Your Brand Exposure with Lookalike Modelling
Within the DMP, brands can also use the analytics tools to create pools of users that behave and interact with ads in the same way as its best customers and converters. Brands can either increase campaign performance with a smaller audience or if a KPI is exposure and overall reach, then there is the option to create a loose lookalike model.
3. Utilise the Ever-Growing and Changing Data Pool
Data will be consistently flowing into a brand's DMP, so the data is always updating. This means that the information that is fed into the system is always developing. When customers return, the data generated from this action will continue to develop dynamically so a brand will never start from square one again. The use of DMPs is becoming more and more popular in the market. Businesses should take note at how DMPs play a vital role at improving results and enhancing digital presence in the tough online climate.