What is a Data Management Platform (DMP)?

With the immense amount of consumer information increasingly available in a data-driven industry, it can be overwhelming to measure and optimize it all.

Without proper strategies guiding the use of your data, your valuable consumer information and touchpoints get lost with the rest of the endless digital noise.

As a way to systemize the overload of data and empower marketing solutions, data management platforms have emerged as a necessary asset to companies’ campaigns.

What is a DMP?

A data management platform (DMP) serves as a centralized warehouse to aggregate, analyze and enhance valuable consumer data.

DMPs layer different types of data, such as first and third party data, to build target audiences. By branching data from different sources, a DMP enhances consumer information to gain a comprehensive understanding of users.

This way, you have all of your data in one place to provide a clear view of your consumers. The most important capability of a DMP is its ability to clearly track and understand the user’s cross-device journey.

Different types of data:

  • First-party data – Information directly collected from your company’s own platforms such as your website, CRM list, social platforms, mobile apps, etc.
  • Third-party data – Information aggregated from other sources outside of your own, such as demographics (income, age, marital status, etc.)
  • Mobile data – Consumer insights (app usage, app downloads, mobile purchases) collected from users’ unique mobile device IDs, typically accessed via opt-in apps

As consumers are increasingly engaging across more devices, your data management platform will become that much more helpful in serving as a hub for all of their cross-device behaviors and media preferences.

Benefits of a DMP

Transforming this information into powerful intelligence about the customer journey allows marketers to better understand consumers and effectively engage with them across all devices and screens.

By optimizing different types of data into one platform, you can strengthen your campaigns with:

  • Customized target audiences – With a hub for multiple layers of consumer data, you can build more accurate user profiles.
  • Cross-device capabilities – A DMP allows you to understand users across all devices, not just to one, so that you can effectively meet them where they are engaging most.
  • Ad targeting – Increased insight into consumer behaviors and media preferences allows for hyper-targeted, relevant ad delivery.

Collecting information is the first step, but data becomes most powerful once it’s analyzed. Only then can it be used to gain rich audience insights.

A DMP enhances customer insights by combining data from different devices. This helps to build a more accurate target audiences and understand how to effectively reach them.

Enhance Your Campaigns

With rich audience insights, you can personalize consumer experiences across all digital platforms, increasing customer engagement and lowering acquisition costs.

Don’t just advertise to devices – deliver relevant ads to real people where they are engaging most. Once you have gained a true understanding of your consumers, you can utilize accurate personalized profiles for more successful campaigns.

Powerful data opens up more opportunity and a DMP is a major asset to aggregating that data into one place. Make sure you are making the most of your consumer data to maximize campaign success.

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