Why You Need a Data Management Platform
We use data to uncover truths about our audience, but the way we do it has rapidly evolved. Gone are the days of relying on an unhindered collection of big data, because today we can uncover a single source of truth about granular segments.
This shift occurred in the wake of new privacy laws, scandals and growing concerns about the large Black Boxes and Walled Gardens of the advertising world (e.g. Facebook/Google). But what if, rather than depending on those forces, you could simply leverage all types of your own and trusted partner data in ways that inspired confidence and actionable insights?
A Data Management Platform (DMP) can do that.
Although a DMP is not a panacea for the data challenges of a Walled Garden world, it provides opportunities to organize and leverage data in a variety of ways across the open web and apps:
- Defining and targeting niche audiences
- Controlling for timeliness and frequency
- Enabling message sequencing
- Measuring campaign performance
These are just a few of the primary-use cases to get the most out of your media investments.
Don’t have a lot of first-party data? Generate your own. Data management platforms can collect all types from scratch. Tracking, storing, segmenting and insights help power campaign optimizations in real time. These capabilities drive efficiencies that are cross-platform, improving valuable KPIs throughout the campaign.
Data management platforms also house trusted second-party data, which is transparent in nature, scalable and accessible. Furthermore, the solid gold that is first-party data can be transformed into liquid oil via predictive modeling, which produces targeted results at scale by leveraging only the third-party data that is most predictive of success.
Already have your own DMP, but unsure where to begin? Consider Empower’s popular thought-starting questions:
- Who is the DMP owner?
- How do you define positive ROI from a DMP investment?
- Who will control onboarding of first-party data streams?
- For first-party modeled audiences, what methodology does the DMP utilize?
- Who will create audiences, and from what data sources?
- What integrations does the DMP need to hook into?
- What’s the pricing and billing model?
These are just a handful of questions that must be answered – and have been answered by Empower for several clients. We’re here to provide them for you as well. Ready to take control of your data? Email our data solutions team for more information – email@example.com.