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Josh Dreller, VP of Media Technology and Analytics at Fuor Digital, wrote an article that appeared in iMedia this morning on the topic of "Why DMPs are the Keystone of Data-Driven Marketing." He spoke with several industry leaders on the subject of DMPs, including Lotame's Founder and CEO, Andy Monfried. Here are some highlights from this article.
"Marketers, hear me now. The data management platform (DMP) will soon become the most important piece of technology you own. It is not another new shiny object among all of the clutter of shiny objects in this rapidly innovating industry. The DMP is truly the gateway to the next step in the evolution of digital marketing. It is a layer of technology that will literally touch and enhance every part of your business. I don't say this lightly -- you owe it to yourself to read this article so you can ensure that both you and your career stay relevant in the data-driven marketing era that is already completely transforming your industry."
"The DMP of the future will literally be the centerpiece of data-driven marketing. Companies will be able to use their DMP to warehouse and leverage huge amounts of data coming from many different sources -- CRM, web analytics tools, ad servers, search marketing efforts, mobile apps, Facebook pages, census data, and offline data. Hell, for some advertisers, being able to know what the current weather is at the user's location will impact how much they're willing to bid for that individual impression.
And DMPs won't be just used for buying ad impressions. DMPs will finally help us realize the long awaited goal of scalable personalized messaging and content. Once the DMP is tied into all aspects of your ad operations, it will not just help marketers to buy the right ads, but it will put the right creative in front of that user. It will also remember those things when that consumer visits the website weeks later."
"One of the most passionate DMP experts I interviewed for this piece was Andy Monfried, founder and CEO of Lotame. For many reasons, Monfried shocked the industry last year when his company shed its longstanding ad network business to focus completely on the technology side. Lotame's DMP, CrowdControl, 'offers innovative publishers, agencies and advertisers the most intuitive, user-friendly and feature-rich technology to unlock the value of their audience data.'
'Agencies have not done a fully great job of educating data to marketers and they're leaving the door open to tech vendors to teach data to clients,' Monfried said. 'A lot of time agencies don't have a model in place to handle the imminent intersection of data and media. They don't have the skill set nor the appetite to move in this direction and they could find themselves in a bad place very soon.'
But he offers an interesting path for agencies to consider. 'You've head of the term, AOR (agency of record)? I use the term TAOR (technology agency of record). These are very different. A TAOR can work in conjunction with an AOR or agency and can feed them tons of intelligence and great audiences interacting with the brand and help the brand win. Agencies are not equipped and do not have the technology to win in this environment. They have bidding engines. They have platforms. Advancement of technology is being sacrificed in trading desks and self-serving for the advancement of agencies.'
'When you own a unifying data platform and you bring in a TAOR, it empowers the AOR -- it's okay to have both an AOR and a TAOR -- they're two separate houses.' Monfried believes that his company can enable brands, agencies, and publishers to become more data savvy to compete in the new technology driven landscape."