A company size, industry, or revenue doesn’t really matter – Today all advertisers and media companies (publishers) want to make the most of their audience information and leverage the power of data to support relevant communications and offers.
When it comes to managing data, advertisers and publishers follow a much more refined process than before. And why not this approach helps them use their data assets to its full potential, by giving better insights, grow, and monetize their audiences.
Growing digital media and increasing number of tech savvy customers’ demands the advertisers and media companies to focus on a strategy that is more Audience-Centric. The key to master this is by realizing the real power of data. This is where DMPs come in.
DMPs unite data from numerous sources and further transform it into valuable insights which help the advertisers and marketers in personalizing and delivering precise experience for each of their audience.
Businesses benefit from a DMP in several ways. This blog post would focus on the top reasons why advertisers and publishers must go for DMPs. Let’s break it up for you:
How Publishers Can Benefit From A DMP
For long, DMPs have been associated with companies and vendors on the buy side, i.e. DSPs and ad agencies. But now they are becoming equally popular on the supply side, precisely with the publishers.
Publishers deal with loads of data, and they need to realize the full value and potential of their data assets and harness its power in a way that benefits the whole business. Today’s savvy publishers are making efficient use of their data inventory via DMPs. A DMP enables a publisher to understand their customer personas completely – their likes\dislikes, behaviors and sites or content they habitually spend time on. Let’s take a look at the pool of benefits DMPs bring in for Publishers.
DMPs Benefits For Publishers
- Increase Campaign Revenues and eCPMs
The key for running successful marketing campaigns is by using data assets to inform a user acquisition strategy. DMPs allow the publishers to identify high-value users and run lookalike ad campaigns to appeal to more of these. The end result is more targeted marketing campaign than plain vanilla placement and context based ad positioning. Publishers can command a premium due to a more targeted approach which results in a more engaged user base and increased revenues and eCPMs.
- Win More Business
DMPs offer publishers the capability to integrate data from any source, make sense from it, and use it for a diverse set of applications. This includes, audience targeted advertising, content personalization and cross-screen messaging. By uniting 1st and 3rd party data, a DMP helps you discover profound insights into visitors through your digital properties, which when passed on to the sales team helps you win more business.
- Break New Categories
DMP is the new trend to break new categories when it comes to searching for prospects who may be interested in your product\service. DMP has third-party data sources and by integrating it with this platform you can acquire loads of anonymous data to realize higher precision and scale with your targeting campaigns. When 3rd-party data is purchased, it complements and enhances the first-party data of the business, allowing the publishers to reach more of their targeted audiences, which further means more engagements and successful campaigns.
- Sell More Inventory
Building audience segments is one of the key benefits of using DMPs; these segments can be further used for a range of diverse revenue-boosting activities – including audience extension.
Audience extension typically involves the publishers collecting their valuable first-party data and segmenting their visitors into audiences. To carry out audience extension, a publisher needs to first gain access to more high-value inventory from other publishers. Further, the publisher can combine their own inventory with that of the others and sell it to advertisers via direct campaigns. This allows the publishers to earn more revenue from their visitors.
- Improve Performance
With the analytics tools in DMPs, publishers can create look-alike and act-alike audience segments, this enables them to increase scale across their digital properties. These audience segments can be further taken to run extension buys across the broader web. In addition, to creating scaled look-alike audiences, DMP can also make retargeting truly smart. Publishers can easily implement customized re-targeting campaigns created on specific activities and behaviors taken on or offline.
- New Ad Products
In addition to cross-platform audience monetization, DMPs also play a very critical role in helping publishers introduce cross-device products. Cross-platform strategies demand the capability to identify relationships between different devices. DMP combines data derived from device signals, consumption signals and visitation signals with the existing pool of intelligence to produce true cross-platform audience intelligence. For the publishers, this means increased CPMs and sell-through rates on desktop and mobile.
- Personalize Content
To increase your page views, showing the right content to the right audience becomes crucial. Publishers always keep looking for new ways to attract attention, engage consumers, and increase conversions, the key to which is through Content Personalization. This is where using DMP is crucial, by collecting all your first-party data in a single platform; you get to see a clearer picture of your audiences’ interests and past interactions. From there, you can efficiently create audience segments and use it to personalize your visitors’ experience by displaying the most dynamic content that best suits them.
To sum up all the benefits in one line, DMP offers advanced targeting, improved performance, premium CPMs and more inventories.
How Brand Advertisers Can Benefit From A DMP
DMP is the right choice for those who:
- Want to target campaigns to improve response and conversion rates, in a more timely and productive way
- Want to control their advertising costs, and also improve their overall ROI
- Want to target a niche audience, but at a large scale
Using DMP ensures that you are conveying the right messages to the right audiences, triggering increased consumer engagement, increasing conversions and getting a far higher ROI along the way. There are several benefits DMPs offer to the advertisers, let’s explore them:
DMPs Benefits For Advertisers
- Improve Campaign Yield
DMP offers robust campaign monitoring capabilities and tools for improving campaign yields. With the right insights, you can quickly identify:
- Key performance drivers for individual campaigns.
- Best performing audience segments.
- Driving up / dragging down behaviors and performance within segments.
- Which data sources (first-party, second-party or third-party) is driving the best results.
Equipped with such valuable insights you can refine your campaigns, scale them, optimize them, and increase ad performance by targeting the right ad to the right prospect.
- Improve Campaign Spread
DMPs help in identifying more consumers across a diverse set of screens and offer a holistic view of your consumers across devices. This increases your overall campaign spread by enabling you to reach your most valuable audiences in the right place at the right time for increased engagement.
- Get To Know Your True Customers
By collecting and analyzing data from a range of sources, you get to know who your true customers are. Discover new trends, spot and fix conversion drop-offs, and better understand your audience and their behavior to build up audience history. By evaluating past purchases, what visitors click on, their preferences, and how well they respond to certain offers you can create customer segments and leverage it for recurring campaigns which will help to increase sales.
- Personalize Ads And Content
Advertisers desperately find ways to personally connect with customers online, which is why they are becoming profound to leveraging technology for, personalize ads and content to cut through the digital maze. DMP offers consumer insights which can be applied to adjust your site content in several ways ensuring that you show the right ad or content to the right audience and increase your campaign CTRs.
- Create Unified Audience/Customer Persona
DMP allows the advertisers to leverage 3rd party data to enrich one’s own 1st party data from multiple sources like a website, e-commerce channel, campaigns, CRM, retail databases etc. and stitch them into singular audience profiles. By creating a single customer view DMP allows the advertisers to directly identify and understand their users, their behavior, and how they interact with their brand.
Build your own custom audiences, trigger them in your programmatic campaigns and gain new understandings about your audiences- this is what DMP can give you. Apply DMP learning’s for optimization.
DMP is all about making data “Actionable”. It powers publishers, marketers, advertisers and agencies with exclusive segmentation technology and audiences which deliver results. Now since you’ve decided a DMP is right for you, it’s time to call Cuberoot.