Most marketers today have multiple sources of first-party data feeding into different systems. In addition to first-party website data, they may have CRM data, mobile data, or social data. They may have offline data that they cannot unify with online data. And they may have other sources of data they aren’t even aware of!
Imagine having access to one centralized system for all of the data you own and operate as a business. A data management platform (DMP) collects all first party data, organize it in a way that makes sense for your business, and creates a central data warehouse for that business.
By dropping just a few lines of code into the footer of a website, a DMP allows users to capture valuable information about their site visitors’ demographics and behaviors. And for marketers who have data coming from multiple sources as mentioned above, a DMP is a crucial platform that allows all of these disparate data points to be combined together for a more complete view of the consumer. Rather than a partial view of your consumer in many different places, the DMP combines everything into one place, enabling true data-driven marketing.
A DMP not only collects and organizes first party data, but also connect it to third party data. Within Lotame’s DMP, marketers have access to billions of data points from the Lotame Data Exchange (LDX) as well as over 40 branded data providers. For companies with limited first-party data resources of their own, third-party data is important.
Adding third-party data to existing data sets allows marketers to enrich their first party data, leading to more precise targeted ad campaigns. This can also be used to learn more about customers and prospects, enabling the marketer to create more tailored messaging. In addition, marketers can combine multiple third-party data sets to more efficiently prospect among their different activation channels.
A data management platform is really a single access point to all audience building and planning for that brand. With a few clicks, Lotame’s DMP clients now have access to over 40 data providers to work with, in one platform, to be added and subtracted to create the perfect audience. What was once a very fragmented ecosystem is suddenly very simple!
While there is no denying that data is king, how useful is a mountain of data if you can’t put it to good use to drive insights about your audience or guide your marketing strategy?
Lotame’s DMP collects, organizes, and activates data from any source into one centralized platform, allowing users to manage that data and glean valuable insights from it. We’d love to show you more. Contact us today for a demo, and we’ll show you all the cool things our DMP can help your business accomplish.