A step-by-step guide to deploying a data management platform (DMP), including the core functions of…
Digital marketing agencies are innovators in taking data insights and turning them into compelling, results driven strategies. The mass expansion of the internet has created much more consumer data points as more users interact online. This increase in data can allow for agencies to create campaigns that directly reach their target audience specific to their client’s industry.
The importance of data management if more prevalent than ever as without it campaigns may reach more people, but the campaign may not reach the right type of people. As a digital marketer, you know that high traffic does not always correlate with a higher ROI because you want the traffic to be from your target market – the high value users. A DMP is an essential tool in improving strategies to reach the valued audiences of your agency and increasing the ROI across your campaigns.
Data management platforms are a strategic tool for creating data-driven campaigns. DMP’s are also used by marketers and publishers and can be customized to meet the specific needs of your industry or agency. A DMP can do for agencies just what it does for individual advertisers and publishers — help them understand their audiences better so they can reach more target users. You can choose to expand your data set to understand your consumers better and use your DMP to organize and drill down into those data points in order to pull the most valuable insights. So, how can today’s data management platforms benefit agencies?
As an employee at an agency you’re already a natural multitasker and wearer of many hats. You can keep a view of the big picture while managing multiple smaller tasks and maintaining an understanding of your client’s needs. A DMP can help you manage the multiple data points you may have been currently looking at from your CRM. A CRM system can be a rich storehouse of useful consumer data to be used as a way of tracking and managing your consumers information and other data points. Using a CRM helps form an understanding of your consumers and the demographics and behavioral patterns of your target market.
When you integrate your CRM with a data management platform you can pull more data that may have been unavailable to you before and have a fuller understanding about your audience and how to target them better. Integrating your CRM with a DMP lowers your risk of missed opportunities. The integration will have proven results represented in the form of an increased ROI, driven by you through better targeted campaigns. Data management for agencies is invaluable and can assist in creating messaging and campaigns that are impossible for your consumers to ignore.
A DMP for agency use breaks limits your current data set might have kept you in. If you do not a large data set that you can make statistically accurate insights from, you are able to integrate data from other sources to create a lookalike audience. Lookalike audiences are built through a modeling process by finding groups of people that are similar to your target audience. Lookalike audiences are a customer match of your target audience; these groups hold similar characteristics and are to help you pull insights with more data to increase engagement, expand your original target audience or reach campaign goals.
With a larger data set of consumer information you can understand the behavior of your target audience, what demographics they fall into, common interests, and so much more. Taking full advantage of a DMP takes away any constraints you had with first-party data and allows you to easily pull audience segments that model the groups you want to target. Not only will you be able to drive campaigns that have a higher ROI, but when you go to talk with your clients you will have established yourself as an expert of the target group with data-backed insights and further build trust with your client.
Let’s say your advertiser comes to you and says they are planning to move their data collection to a DMP system. Before they part ways to you, offer to show them how the system works. If you’re already using a DMP successfully, it should be easy to convince the advertiser you can help them do the same. If they agree, this is an opportunity to show them how the two of you can work together using the DMP to maximize the advertiser’s power to reach consumers.
If they still insist on going their own way, you’ll at least have had them on the books for that extra time it took for you to train them how to use the DMP effectively. Of course, you can only do all this if you have a deep understanding of the DMP yourself, and the only way for you to gain that deep understanding is to start using a DMP on your campaigns right now.
There are plenty of ways you can make use of a DMP for agencies right away. You can use some of your natural creativity to take full advantage of what a DMP has to offer your agency. For example, an area where advertisers see tremendous waste and leak a lot of marketing capital is by continually marketing to consumers they’ve already reached. Through creating lookalike audiences you can expand your target audience and increase engagement which lead to an overall higher ROI. An agency can quickly use DMP data to mitigate this kind of behavior and create the strongest strategies for clients. For more information download the DMP Playbook for Agencies or contact us.