All you need to know about Data Management Platform

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All you need to know about Data Management
Platform
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• More users have been created and collected
  on a daily basis since digital media grows in a
  more complex way.
• Marketers, publishers and agencies require a
  better way to buy, sell and manage the audience
  data beyond the standard suit of analytics tools.
  
• A big question here is, how to capture all
  these valuable audience data, shape it into
  insights and then activate that to drive
  outcomes?
• DMP is a data driven marketing which serves
  as a unifying platform to collect, organize and
  activate all type of audience data from any
  source which may be from online, offline, mobile
  and beyond.

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• Big data is being an instrument to effective
  data driven marketing campaigns. You cannot do
  much with the raw information.
• We need to sort and convert that into an
  usable form, this will helps to understand what
  youre looking at. This is the power of DMP.

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• What does a DMP do?
• The main work of DMP is to collect and
  organize the data from a variety of sources and
  makes it available to other platforms such as
  SSPs, DSPs and ad exchanges to be used for
  targeted advertising, content optimization, and
  personalization and beyond.
• DMP refers as the pipes of ad tech by some
  people since it connects many platforms in a
  neutral way so that the marketers can use their
  powerful audience data when and where they want.

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How does a DMP work?

• DMP can collect unstructured audience data
  from any source which may includes the mobile
  web, desktop, CRM, web analytic tools, online
  video, mobile app, offline and from TV.
• The good DMP is the one which should collect
  the audience data on more than a surface level
  which should go far beyond things like URL and
  keyword information.

First Party Data

• This is the data where you collect directly
  from your own customers. It can be collected
  based on some behaviours such as downloads,
  clicks, video uploads, video compilations,
  showing the interests on sports, museums, travel
  or other demographic information.
• It also includes the socio economic data,
  demographic data, and influencer and action data

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What happens once the data got collected?

• Once the first party data is collected, it
  will be organised into a series of segments which
  is referred as hierarchy that can be changed
  based on each end users business models.
• A large publisher network may have their
  hierarchy which has been divided up into
  different buckets based on each of the individual
  websites they own.
• An agency may have separate accounts for each
  of their advertiser clients. Marketers can manage
  different brands data separately by having an
  overall holistic view of the data at the top
  level.

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• These data helps to understand your
  audience in a better way. By creating effective
  RFP responses, will enrich your audience to learn
  more about them and extend your audience to next
  level.
• By keeping all your audience data
  collectively will helps for quick understanding
  of who your best customers are, what content they
  interact with and how best to reach them
  effectively.

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There are four basic steps to getting started
with DMP, lets review that
Activation
Organization
Insights and audience profile reports
Segmenting and audience building
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Organization

• A Data Management Platform will organize
  your first party audience data into taxonomies
  and categories which can be specified by those
  using the platform.
• You have to define how the data been
  organised which means you need to understand and
  define what you need out of your data before
  deploying a DMP.

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Segmenting and audience building

• Once the data have been organised in the
  platform into segments, you can use the
  information to build the audiences for specific
  marketing campaigns.
• For instance, a retailer may want to target
  one particular ad to females in the range 18-34
  while another may focus on men who frequently buy
  shoes online.
• Publishers, marketers and advertisers rely on
  the audience segmenting to power their data
  driven campaigns and reach the right consumers at
  the right time.

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Insights and audience profile reports

• After the data been organized and classified,
  you can take the chunks and analyse it to discern
  the customer patterns, trends and intent.
• The profile reports of the audience give an
  in-depth view of the characteristics and
  interests of each audience.
• This information will be used to inform your
  future creative and messaging.

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Activation of data

• The last step is to activate the data by
  putting that into work.
• This activation step relies on the DMP
  having the integration and open APIs with other
  platforms.
• The audiences you build in the DMP
  seamlessly transported to SSPs, DSPs and beyond.
• The most common DMP use case is running a
  targeted campaign to a specific audience via DSP
  or you can connect the DMP to your CMS (Content
  Management System) to adjust the content of your
  website for certain audience groups.
• The use cases and possibilities for data
  activation with a DMP are limitless.

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How to build an audience in DMP?

• After you collect and organise the data, you
  can start to build the audiences.
• For any particular targeted campaign, a
  marketer can predefine a target audience for that
  campaign.
• Instead of choosing to spend the advertising
  dollars on a particular financial website to
  reach the audience who are interested in finance,
  you can build a financial audience based on the
  actual behaviours across the wider internet.
• Audiences can be building inside the DMP by
  using the combination of first-second and third
  party data sources, which further combines using
  Boolean logic that breaks down all the values
  into either true or false.

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• What data points can be used to build an
  audience?
• You might have already known the audience
  demographics and targets that will be very good
  to build the audiences.
• Some data points you can use to build your
  audience that will be listed here as follows
• Age, location, gender, interests, household
  income, browsing history, and social networks etc
• If you dont have the sufficient first party
  data to build the audiences you need, the DMP
  need to provide the access to 2nd and 3rd party
  data to help scale your campaigns in order to
  reach the audience goals.