Or so goes the marketing adage. The more we can learn about our customers, prospects and future customers the better equipped we are are to reach them effectively and ultimately convert them to users. However there is now so much information available that we can end up getting inundated, Data for the sheer sake of data is of little practical value. Understanding what it says and extracting actionable insight is the key. That is why many marketers are adding a Data Management Platform or DMP to their marketing tech stack. What is a DMP you might ask? Well that is what we will break down for you in this article.
A DMP is basically your data warehouse. It is where you can store all the first party data you are collecting from your campaigns. This knowledge becomes powerful when you utilize it to glean insights about your core demos and compare it to 3rd party data to create cookie pools and targeting models that you want to reach with your digital advertising. Then you can create customized collateral and landing pages to reach these customer groups directly.
After you purchase media with these insights, DMP's help you to analyze the effectiveness of your campaigns allowing you to optimize them over time.