In my previous post about our new report titled The Role of DMPs in the Era of Data-Driven Advertising, I covered the data management platform (DMP) landscape, whether better data equals more paid media success, and how DMPs can be used to get advertising in front of the right people.
The report was part of a new Modern Marketing Actionable Insights Series launched in partnership with Oracle Marketing Cloud, and today I’m going to cover five best practice tips that came out of it that will help you take advantage of a DMP when it comes to your advertising efforts.
1. Data ingestion or ‘data in’
To get the best out of a DMP your starting point should be harnessing the known data already contained within your business and marketing systems. Ensure you build ingestion capabilities for this first-party data as you define your audience.
Then you can begin to layer this data with data from second and third-party sources.
Layering various types of data in this way will ensure you create a complete data set, which will improve your targeting and segmentation abilities.
2. Develop a segmentation plan with the right creative
DMPs can create rapid, accurate and targeted segments, but it is important to focus on the segments that will actually deliver the best returns.
It is therefore essential to look at the overall plan rather than just the targeting and segmentation strategy, because even good segments won’t deliver results if the communications or creative aren’t optimised for the customer.
Using a DMP to find the dataset is just one part of the job. Companies also need to understand how to interact with those segments, what the right message is and what content will work.
3. Build the right team
Even the best technology is useless without the right people using it. It is important to have the right resources committed to your data-driven advertising or marketing efforts.
Consider hiring people not just with a general marketing background but also with analytics experience.
Also consider how you’ll grow adoption of your data-driven marketing efforts throughout the organisation, and ensure there is adequate training on the DMP for both internal and agency stakeholders.
4. Content and context are king
Automated, template-driven marketing and advertising communications have the potential to become the very thing a data-driven strategy is supposed to avoid: being impersonal or irrelevant.
There is plenty of room for creativity in automated marketing and advertising using a DMP, but brands have to prioritise their efforts effectively between sales and brand goals.
Content needs to adaptive and reactive, and served in real time. Ultimately the customer experience should be the first thing in mind.
5. Embrace agility and a sense of urgency
The concepts of experimentation and agile marketing principles, or the ability to adapt in the moment, are hugely important.
DMPs can enable cross-segment audience creation, so there is a real opportunity to experiment with a number of different variables.
Work to cleanse data and improve processes, but don’t wait until all stages are perfect before launching your DMP strategy. Run test groups, but be prepared to implement quickly and be prepared to adjust as needed during campaigns.
To read the full report, download The Role of DMPs in the Era of Data-Driven Advertising.