A data management platform (DMP) is a software that is used to store campaign and audience data from all sources. It offers a localised means of managing and accessing data for marketers where they can retrieve cookie IDs and mobile identifiers to allow them to create targeted segments for advertising through digital campaigns.
A DMP provides marketers with an easy access to information which would be impossible to manage when data is not in a central location. With DMPs, marketers are able to build audience segments for advertisement using the customers’ information available in their database. Information like customers’ former purchases, demographic, past browsing behaviour, device used and the location is crucial data for analysis by the marketers. With such defined information, it becomes easy to target the needs of customers when advertising and ensuring that the ads reach the intended audience for an increase in leads or sales.
As a marketer, you will find the need to research and collect your audience data so you can have better-defined marketing efforts. You will find DMPs useful if you are purchasing third-party data or media placements. When running cross-channel or multiple marketing campaigns and need a more comprehensive understanding of the audience that you get by yourself or through a third-party, DMP is a great tool to use. The aim of every business is to improve their ROI when using ad budget and ensure that they are creating hyper-targeted campaigns that will improve their conversion rates and brand engagement which can only be made possible by the use of DMPs.
Regardless of your perception of DMPs and third-party data, as a business owner, you will find that having access to more information about your customers has a great impact on the strategies that you use in marketing your company.
Based on our research with Social Media Today we found that most marketers are comfortable with...