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How to Use a DMP to Respond to an RFP

July 13, 2016

One of the primary business cases for a DMP by publishers is the ability to build, package and sell audience in response to an RFP. In an effort to help our publisher clients succeed with their RFPs using a DMP, we have included below a few step-by-step examples on how to do this, along with some best practices to think about and implement where it makes sense for your business.

When an RFP / Brief Requests a Particular Audience

If the RFP requests a particular audience, you are dealing with a smart marketer who knows what they’re after. Opportunity to educate or “think outside the box” by introducing creative audience menu options. 

  1. Go ahead and build the audience requested, both as first-party data only (if you have those behaviors) and a 1PD & 3PD supplemented combo audience
  2. Now, Copy that audience, and make it more broad, by removing one of the restrictive parameters
  3. And, Copy the original audience, and set frequency and recency parameters to find the “super” or “power” users within the original group — think “premium”
  4. Consider audiences that will reach users across devices
  5. Repeat, until you have 4-5+ audiences (there’s no limit to the number of audiences you can build within Lotame)
  6. Price these based on their value to you and how honed in to the target audience
  7. Respond to RFP / brief with audiences, potential reach, and price, giving them the option to pick and choose within their allocated budget (there’s a really great budget calculator attachment in the forecasting article)

Example: Well-established fast food chain company is running a niche campaign, and requests U.S. audience of African American parents interested in Quick Serve Restaurants (QSRs).

  1. Determine if you can build the audience and reach the campaign budget with 1PD only, or if you will need to include 3PD
  2. Build out audience depending on your analysis
  3. If you create the audience using 3PD, request a Reach Estimate to determine if the audience is large enough to fill the campaign budget. If it is not, consider additional offerings, such as those in the sample image that follows. Below is an example with four line items tiering in price dependent upon the value of each line item. Note that the last line item is an Added Value Report. You have everything you need within Lotame’s DMP to create an end of campaign Wrap-up Report. When submitting different budget levels, do not include this added value with lower budgets.

    Respond to an RFP or Brief - When you receive an RFP or brief, it’s your opportunity to respond with multiple options that may be a fit for that particular client.
    Example RFP Chart

When an RFP / Brief Doesn’t Request Audience

You are dealing with a marketer that may or may not be aware of audience, or even know that you have that in your back pocket. Opportunity to educate with audience options to get their feet wet and show them the value in targeting audiences, in addition to “pages” or site sections.

  1. Study the brand and campaign, to better understand the audience they may want to reach
  2. Be creative in building audiences, perhaps use segments of users who have shown affinity towards competitor brands, or that particular interest in general
  3. Use both 1PD and 3PD and create audiences on both Enrich and Extend
  4. Use frequency and recency parameters to find the “super” or “power” users, for more audience menu options
  5. Consider audiences that will reach users across devices
  6. Repeat, until you have 4-5+ audiences (there’s no limit to the number of audiences you can build within Lotame)
  7. Price these based on their value to you and how honed in to the target audience
  8. Respond to RFP / brief with audiences, potential reach, and price, giving them the option to pick and choose within their allocated budget (there’s a really great budget calculator attachment in the forecasting article)
  9. Leverage the Marketing team within your organization to back up this new audience product with PR or thought leadership in the industry to show the market place you are data driven and forward thinking. “Productize” your offering – give it a name! And, create educational material (one-sheets, slide deck, case studies) to arm your sales team for prospects.

Best Practices

Worried about how to manage the onslaught of “custom” audience request? Here are some of the successful approaches other Lotame clients have implemented:

  • Require a minimum deal size (value or length of time) for the pitch to qualify for custom audiences.
  • Pre-build audiences with varying demographic, interest, intent, location, and combinations of all of the above and pitch these first before building something more custom. In Lotame, you have the ability to copy an audience and add/remove data from it. Having 20+ prepack / off-the-shelf* audiences can prove quite valuable when in a rush.
  • Up-charge for custom audiences, this will reduce the amount of requests, and cover the cost of the extra time spent building the audiences.
  • Consider creating audiences on Extend, in addition to the default setting of Enrich, which will allow you target users on and off your inventory, for the greatest possible reach.
  • Utilize Lotame Insights and/or Audience Optimizer to pixel the live campaign and create lookalike audiences that have a higher likelihood to perform (perhaps you use these mid-flight or to win additional business with the Client).
  • Have a person, or strategy team, that owns the process of building custom audiences. If someone is in the platform building audiences daily, they will be able to more efficiently find specific behaviors and cut down on build time.
  • Alternatively, allow a greater team to have Lotame DMP UI access to build, but NOT save audiences. This will give them the ability to answer these requests, without being able to save and clutter up the account.
  • Clearly define lead time. If expectations are set at 2-3 days to respond to custom requests, lean on prepack audiences with similar definitions to respond to an RFP, and then follow up with the client with the actual numbers once the audience has had time to grow. This also provides a second touch point with the client.
  • Include a line item of “Audience Discovery” on every proposal. Run a portion of your campaign outside of the specified target audience to identify those additional audiences, interests, actions, and behaviors who respond well to your message. Model those newly discovered positive response behaviors and affinity interests to develop high propensity/density lookalike targets. Deliver media against those core lookalike targets. This will provide your campaigns with the flexibility for success and you the opportunity to learn and share who else is interested in your advertisers message, product and/or services
  • Use the myLotame Community to learn best practices and ways to grow your ROI. And, don’t forget to use the Discussions to collaborate with your peers!

Whatever you do… DON’T WORRY. You’re going to be a PRO at this in no time. Practice makes perfect. You just need to harness the great audience tools available at your fingertips!

Have more questions? Reach out to Lotame – we’d love to chat!