Digital marketers in the modern world have access to a huge web of touch points with consumers and their devices. But it sure does gets complicated.
A marketer can have access to several 1st party, 2nd party, and 3rd party data sources, and these are often frustratingly siloed in seperate locations.
1st party: data collected by your own brand. This is your owned data, i.e. website data, app data and CRM data.
2nd party: someone else’s first party data which you can purchase access to via a partnership. This gives you insights you couldn’t possibly collect from your 1st party data alone.
3rd party: data delivered by data aggregators, which you can purchase. This enables you to seriously bulk out your audience data volumes.
Using all of the above provides one hell of a lot of data touch points, and one hell of an exciting opportunity.
Imagine if all of this data could be unified in one place and mapped to individual users, so that we can better understand our existing & potential new customers? Imagine if we could then target those users with personalised advertising, content and messaging based on their needs, which we have identified by all the data we have matched to those users?
No need to imagine, that’s where a Data Management Platform (DMP) can help.
A DMP is a unified platform which intakes 1st, 2nd, & 3rd party data and matches the data to profiles for individual users. We can then create audiences by building segments of various profiles with similar traits, and push the audiences into live digital marketing platforms.
Let’s think up some use-cases as to why having this level of audience understanding is so powerful.
Most brands have identified several customer segments which are based on demographics, interests and behaviour. These segments can be built as audiences within a DMP.
Using a website and app personalisation tool, you can set up your homepage so it displays personalised content and products dependant on which audience segment visits your site or app.
Most digital platforms we use for advertising (paid search, programmatic display, paid social, etc.) allow for integration with a DMP to target your segments with ads. Similar to the paragraph above, you can use this DMP/platform relationship to target your segments with personalised ads which cater to their specific needs, and replicate the messaging across all channels - a truly multichannel experience.
Most DMPs offer lookalike modelling; the DMP identifies common traits and behaviours among your segments, and seeks consumers who share those same characteristics but who are currently sitting outside your existing data pools. You can then arrange to target these ‘lookalikes’ with ads.
They’re likely to convert seeing as they’re so similar to your current customers.
All-in-all, having a DMP setup is a seriously nifty weapon to have in your digital marketing arsenal.
We believe that moving too slowly in digital is the biggest risk your business faces. If you are ready to move faster in digital, we are here to help.