Data, insight and the DMP - how to create the perfect 'Marketecture'
For any brand, the ability to create a data environment where it can collate information from all channels into one, central repository is hugely powerful. Not only can it transform a brand’s understanding of its customer base, it can equip a business with the rich and detailed insights needed to create highly effective communications.
By their very nature Data Management Platforms (DMPs) are the perfect solution for marketers wanting to manage cookie IDs and generate audience segments which can be subsequently used to target specific users with online ads with a higher level of precision. However, whilst the primary use of a DMP is to operate data within the paid media space, the real opportunity they offer stems from the fact that they allow brands to match vast amounts of information together in order to gain detailed customer and campaign insights. This information can have far-reaching benefits which extend well beyond media optimisation.
It’s here where the true value lies. If a DMP is being utilised effectively, brands will be able to assess the analytics that result in connecting every single touchpoint or engagement together. Not all DMPs offer that capability, and many other businesses are only using them to improve their understanding of how their customers are behaving. However the majority of brands are yet to fully maximise the true potential of their investment.
In the omni-channel age, where customers are not channel or device loyal in the slightest, the ability to unite marketing and advertising insights together is imperative to gaining richer insights and creating more effective, seamless cross-channel campaigns. Brands therefore have to think about the analytics of both their on- and offline activity. It’s not just about media buying. If brands don’t operate in this way the picture they are able to create will not be as clear as it could be.
The rise of ad tech, DSPs and the platforms through which advertisers can buy media are increasingly changing the way brands and advertisers think about DMPs. As new innovations emerge, brands are having to adapt, and fast, just to keep up. With consumer demands and pressures for brands to respond to key moments in real-time also heightening, the rapidly growing importance of the DMP is clear.
An effective DMP helps to tie every single thread of activity together. The resulting bow is therefore a combination of all these different pieces of activity on one side, and the campaign and audience data they generate on the other. Crucially, the drawer that bow sits in is one central, secure location which can be utilised to optimise future media purchases and creative outputs. In essence it’s all about gaining a better understanding of the customer.
This connected ecosystem is critical to creating the perfect 'marketecture', where every single data set, and the insight it generates, is interconnected. With the relationship between the Mad Men and Math Men steadily moving from a 'vs' to a 'plus', the ability to fuse both these worlds together has never been more important. Consequently, marketing and advertising campaigns can be adapted accordingly ‘in the moment’ so they are fully serving the audience they are intended for and performing as effectively as possible. Ultimately it means marketers can optimise their media buying and advertising creative on the fly. It’s this which ultimately leads to a better, seamless experience for the customer. If all paid, owned and earned media engagements can be connected together, brands can target customers with an unheralded degree of accuracy and establish loyalty and long-term brand advocacy.
The benefits of this approach are endless. At Teradata we help our customers with real-time customer engagement across all customer touchpoints regardless of where the customer is in the funnel – from acquisition to on-boarding, to cross selling, and to retention. Since we acquired FLXone, earlier this year we have accelerated our offering to ensure all our clients have the capabilities to create a universal, secure “marketecture” which complements the individual journeys of their individual customer base.
A perfectly constructed environment of this kind will equip brands with the ability to integrate new data sets and channel activity at a much faster rate as and when they emerge and ensure that a scalable solution is in place. With 30m wirelessly connected devices predicted to be in circulation by 2021, brands need to ensure they are ready to capitalise on the opportunities available to engage with their customers.
Whilst this creates an infinite number of possibilities for brands to interact with consumers, it does by default create a high volume of data. This data can help to shape more meaningful campaigns, but brands need to make sure they are using it in the most effective way possible.
To find out more about how the Teradata Integrated Marketing Cloud can help you unite your marketing and advertising data and technology together visit Marketing.Teradata.com for more information.
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