Marketers Use Data Management Platforms to Drive Higher ROI
There is a vast amount of advertising – and customer-related data available, and marketers need to make the best of it. This means they need to use the best solutions to gather this data and find the most suited methods in order to drive the highest ROI. In order to harness this large amount of information marketers turn to data management platforms (DMPs), as a new report shows.
“DMPs are digital repositories that marketers, media buyers and publishers use to house and organize a variety of data assets, both first- and third-party, traditional and digital. DMPs also offer the ability to quickly organize and analyze the data for campaign reporting and optimization.”
The report commissioned by data management platform (DMP) provider BlueKai and carried out by consulting firm Radar Research, showed that the main reasons marketers would use a DMP are to drive higher ROI (64%), to more effectively centralize and leverage own (and client’s) first-party online and offline audience data for targeting (60%) and to create a targeting profile of audience (55%). Efficiency is very important, as other factors revealed by the research are connected with it as well. 46% of those queried would use DMP to drive audience analytics, 24% to extend audience, 21% to increase campaign scale and 19% to optimize ad creative. Marketers would use DMPs to have all data centralized in a single place which can be accessed by different people (28%) and even to control ad costs (18%).
This study’s findings are similar to those of another recent survey by consulting firm Winterberry Group and the Interactive Advertising Bureau (IAB) which showed that the main factors US marketing professionals see as major contributors to interest in DMP solutions are improving ad targeting and effectiveness (87%), embracing the shift to media “audience buying” (83%) and aggregating connected customer insight (81%). Other important factors are the automation of digital media buying (74%), optimizing media buying efficiencies (73%), realizing the full potential of cross-channel marketing (63%), managing large volumes of data (63%), developing strategy for tackling “big data” (63%), gaining a general competitive advantage (59%) and connecting traditional and digital data in a compliant way (54%).
Budget limitations are definitely to be taken into consideration when discussing about using data management platform solutions, but all in all it seems that this is a trend which will be adopted more and more in the future. This is something which many PR firms who work for restaurants – like Baltz PR – are currently believed to be using.