There are so many acronyms around data now you would be forgiven for thinking that the technical world is against you. In truth, the speed at which we are generating and therefor consuming data is growing exponentially, and out-growing even the most modern technology and meanings quickly.
SO, JUST WHAT IS A DATA MANAGEMENT PLATFORM (DMP)?
In its simplest form, a Data Management Platform (DMP) is single location that hosts all of the data that you are collecting from your contacts. In its truest form, it will provide the power behind a Single Customer View. It merges all of the contact points you make with your consumers and all of the data they generate together.
WHY WOULD I WANT ONE?
In the modern world, the amount of data that is generated by us is huge. As a marketing based organisation we like to use that data (consume it) to provide statistics and to analyse where we would get the best return on our investments.
Consider that you want to promote your new event to security experts. You want to ensure that you miss no-one in the process. So you contact your web developer to give you the Newsletter Registrations, your email provider to provide the lists available an unsubscribes, and your circulation team to provide readership information. With a high-level system you may even ask your web team for information on who has read stories relevant to security. So now you have four lists, all in different formats. You don’t want to upset your potential security clients with bombarding them multiple times with the same content so you format all of the lists to the same format merge them together and remove duplicates to end up with your final list.
WHAT DO I GET OUT OF IT?
Set-up correctly you will have one single data store within your organisation for the consumer, regardless of where the external contact point was. It allows for full cross-matching and analysis of your contacts - providing insights into what their behaviour patterns are and when best to cross and up-sell your products. It stops you leaving money on the table and facilitates maximising income. It helps with legislative compliance as well - if you only have a single data point how easy is the GDPR “forget me” and “tell me” requests going to be performed.
Finally cost savings - and who doesn’t want some of them. By reducing the repetitive and repeat tasks within your business workflow your reduce your costs and risk of errors.
WHERE CAN I FIND OUT MORE?
Perception SaS provide publishers of all sizes with cloud-based software and services to help you fulfil your DMP dream. Our GDPR compliant offering as either Software as a Service or a Bureau environment covering Audience, Advertising and Content has an entry point for every publisher in the UK. Contact us for a more in-depth conversation and analysis of your business.