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. As the amount of consumer data being created and collected continues to grow, this allows for agencies to create campaigns that directly reach their target audience specific to their client’s industry.
The importance of putting this valuable data to work is more prevalent than ever. Without smart data-driven marketing strategies, your campaigns may reach more people, but the campaigns may not reach the right consumers, i.e. those most likely to convert.
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, used by agencies, marketers and publishers around the world. 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.
If you’re running campaigns on behalf of your clients, you most likely need to fulfill certain quotas and reach goals to make those clients happy. But you don’t want to just buy any data to help you reach that scale. True DMPs allow users to build lookalike audiences through a modeling process by finding groups of people that are similar to your target audience. Lookalike audiences are groups that hold similar characteristics and are used to expand your original target audience and reach campaign goals.
With a larger data pool of possible consumers for your campaigns, this data set can be analyzed to help you understand the behavior of your target audience, what demographics they fall into, common interests, and so much more. Taking full advantage of a DMP 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 you can share these data-backed insights with your advertisers, and further build trust with your clients. Use the built-in reporting to share audience profile reports mid-flight or post-campaign as a wrap-up report, and discuss the findings with your client. When you both have access to consumer insights, you can not only learn and become a valued partner, but you can also use these insights to refine your creative and messaging in the future.
There are plenty of ways you can make use of a DMP for agencies right away. 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, if you’d like to find out more about the Lotame DMP and how it can help your agency become a valued partner and data-driven marketing ninja, contact us. We’d love to talk about your goals, and see if our platform is a good fit for you.