Did you know that 54% of businesses cite data quality and completeness as their largest data management challenge? For media and marketing agencies, this can make or break a business.
So, how can you manage your data in such a way that allows you to make data-driven decisions? By using data management platforms (DMPs).
Not convinced? Check out these top benefits of DMPs that will change your mind.
Unifying Customer Data
A data management platform centralizes all of your customer data from different sources in one single place. So, rather than having different forms of data all over the place, you’ll be able to easily access the information you need.
You’ll be able to compare data from various sources, looking for trends and inaccuracies. It is much easier to identify patterns when data is unified, and a DMP helps you to do just that.
Deeper Understanding of Target Audience
Understanding your audience is one of the most, if not the most, important aspects of marketing. In order to do this, you need rich and actionable audience insights.
DMP analytics and data unification provide important insights about your audience which will help you to make actionable decisions.
Audience Segmentation for Targeting Customers
Effective, targeted marketing campaigns begin with audience segmentation. A huge benefit of using a DMP is the discovery of new audience segments using third-party data.
You’ll be able to zone in on a specific audience, using the data from a DMP to gather as much information about this audience as possible. You can then create targeted advertising for this audience segment based on the deep insights you have gained.
Programmatic advertising, or marketing automation, depends on data management platforms. If you want to streamline the process of buying ads, you’ll need a DMP to do so.
DMPs prioritize and process mass amounts of cookie data for a targeted campaign. This is a fundamental part of marketing automation.
If you’re new to programmatic advertising, learn more here!
Manage Marketing Budget
Most marketers know the pains of trying to stay within a marketing budget while still delivering an amazing and profitable campaign. DMPs can help to increase revenue, but most importantly these platforms are fundamental for avoiding wasteful spending.
DMP takes the guesswork and experimentation out of campaigns. You won’t waste any of your budgets on resources, content, or ads that don’t appeal to your target customers.
Rather, you’ll be able to use the data to create well-organized campaigns that are specifically targeted to your customers. This is cost-effective, helping you stay within budget.
Use Data Management Platforms for Better Marketing
These benefits are just the tip of the iceberg when it comes to data management platforms. You’ll no doubt discover new advantages as you get used to using a powerful DMP. Use these platforms for data-driven decision-making and marketing to take your campaigns to the next level.
Are you a marketing aficionado or just starting out in the industry? Either way, our site is packed with informative content to boost your knowledge. Check it out!