These are exciting times for data-obsessed CRM nerds like me.
We can all see the continuous huge leaps being made in both the volume and variety of digital consumer data touchpoints available for analysis and action.
It’s a dense, vibrant landscape bristling with insight and engagement opportunity. And at a very tasty marketing ROI too.
But these big data sources, generated across a variety of website, social, email, mobile apps, forms, and messaging service assets, need a home. Somewhere centralised and curated, where they can be stored, structured and analysed to be effective for our use.
That’s where having access to a DMP has become so vital - so long as we know what it is.
A Data Management Platform (DMP) is a database repository for second party, third party and browse based data generated through digital activity, and collected by market providers who gather these behaviours and collate them at device level.
The DMP ingests, stores and combines these many sources of data.
It then, through matching & analysis, identifies others (at known individual customer or merely at cookie ID level) who represent the closest look-alike audience types.
The DMP then presents these enriched audience profiles, which can be used to improve targeting selection, messaging and relevance across digital advertising channels.
The targeting includes both fresh prospecting, and retargeting of existing or lapsed customers.
A DMP is at its most effective when connected to a programmatic Demand Side Platform (DSP), which executes these audiences against a range of digital media inventory.
Also, the data in a DMP can be further enriched by integrating it with the rich Single Customer View (SCV) store of your own first party data.
Just think - you can now combine first party demographic and purchase history with browse behaviour, attitudinal and topic interest data. And all of it held in a single, enriched construct.
Now THAT’S exciting.