What do advanced DMPs offer?
The smartphone-first demographic across China makes the value of data rapidly evolving and iterating in different scenarios including advertising, e-commerce, offline retail, membership management, etc. As its value becomes increasingly prominent in the digital age and plays a more important role in navigating campaigns and driving business growth, data assets will be one of the most valuable assets of enterprises in the future. Brands need to collect more data, activate and make good use of these data, learn to identify features of audiences’ data, get insights of marketing patterns, and make more data-driven marketing decisions. Therefore, building first-party data management platform (DMP) and customer data platform (CDP) has become a new trend for brands in the past two years.
Forrester, one of the most influential research and advisory firms in the world, defines a data management platform (DMP) as: A unified technology platform that intakes disparate first-, second-, and third-party data sets, provides normalization and segmentation on that data, and allows a user to push the resulting segmentation into live interactive channel environments.".
Enterprises expect leveraging DMP technology will improve marketing efficiency and brand strategies. If you need to maximize your adserving results, you need a DMP that better integrate data, uncover accurate customer insights, and perform intelligent decision making. Some of the features you should look for in an enterprise-class DMP include:
Today most companies face a data deluge. From audience data, CRM data, campaign data, third-party audience data and beyond, marketers have millions of data. For large and midsize companies, disparate data are not enough to cover the entire consumer buying journey. Therefore, a standalone DMP that integrate all three parties of data from multiple sources has become a major task for marketing and martech professional within the company. Especially they are looking a DMP that has strong internal data mining and external data integration capability.
An advanced DMP allows marketers to easily access to your campaign data across multiple media and campaign channels. For large and midsized companies with many sub-brands and products, their campaigns cover a wide selection of mainstream media and delivered by multiple agencies. This requires their DMP to deliver real-time data reports from multiple dimensions, thus, marketers are able to measure cross-channel campaign performance by medias, agencies, audiences and creatives.
Under the premise of legal compliance, an important step after data integration and data onboarding is tagging your data. Marketers expect to leverage establishing their own tagging system and putting a unique tag for each user ID to perform more effective data analytics and marketing decision making. The tagging system should be built according to enterprises own situation. They need to make multi-dimensional designs based on their own business attributes, product features, market demand and other factors.
An audience segment is basically a group of persons (site visitors, app users, etc.) who have been identified (anonymously) as sharing a range of attributes (demographic, technological, behavioral and more). An advanced DMP should include dashboards that allows marketers to break down their audiences’ data into “digestible bits”. For example, marketers should be able to create an audience segment such as “women shoppers who are interested in buying luxury goods and interested in buying it from overseas shopping sites”.
Aside from seeing granular audience features, an advanced DMP should provide dashboards with clear insights into how any audience segment is performing. Your DMP should enable you to use creative tags to collect impression and click data to track, analyze, and report audience behavior through campaigns on multiple channels. With showing all data attributes associated with a specific audience, marketers are able to engage in new audience discovery and ongoing audience optimization.
With all critical data in DMP, user-friendly dashboards that measure and compare campaign performance should be available, so that marketers can clearly see campaign performance and optimize media spend based on findings.
iPinYou’s AlphaData(DMP/CDP) allows brands to access all of the data they own and operate in China, including social data, e-commerce data or even offline data, and to bring all of that into a single platform and to use the AI technology to improve brands’ decision making for activating plans.
After normalization of data and unifying the data, iPinYou’s tagging and audience segmentation technologies powered by AI help brands understand their audiences and deliver better campaigns.