DMP stands for Data Management Platform. It is a platform designed to collect and organise large quantities of consumerdata from first, second and third party sources. DMPs are primarily used within advertising and marketing to gain a betterunderstanding of consumer behaviour and customer needs.
DMPs then operate in a process of four key Steps (Medium.com)
DMPs organize all data collected from the various sources into categories which are chosen in advance by the user.
Audience Segmentation and Building
The segmentation of audiences (i.e. 18-25 year old males interested in Football) can then be used for targeted and specific marketing purposes.
Audience Profiling and Reports
Audience profiles are developed off the back of segmentation and the DMP uses this to find more specific trends adn patterns. Detailed information about interests, characteristics, demographics and trends have now been turned into actionable insights for advertisers and marketer’s target markets.
Utilisation of Collected Data
Many DMPs then have the integration abilities to align with DSP, SSP and various other platforms and this means that the uses of a DMP can be widespread and include: paid advertising, data selling, audience targeting, paid social campaigns, content and the list goes own!
These are still data-driven times and as such ways to collect that information are being adapted and developed on a dailybasis (MarTech Advisor, 2021).
This need to adapt will hold true for DMPs, which also utilise third-party data from cookies (Wired, 2020). However, DMP vendors have already evolved beyond the third party cookie and continue to do so in tandem with the industry (Oracle, 2021).
As mentioned earlier some DMPs now offer clients the ability to connect multiple identifiers from a myriad of devices and sources, including on site behaviour, email registration, ID solutions, etc, and don’t just rely on third-party data. This means that marketers and advertisers are still able to gain an understanding of their potential client base through a number of other identifiers made available through these modern DMPs (Oracle, 2020).
What Are the Benefits of a DMP?
DMPs can function in a cookie-less future and there are other key benefits. First and foremost, DMPs can collect unlimited data on consumers and their behaviour and store it all in one place.
Therefore, DMPs enable their users to collect as much information as needed to produce the most relevant and targeted campaigns (On Audience.com, 2021).
As a publisher, the ability to provide accurate audience information means that CPMs can be maximised as a reward for providing relevant data (Medium.com, 2021).
Finally and perhaps most fitting given the current direction with regard to clamping down ondata privacy – all DMP data can be completely anonymised (OnAudience.com, 2021).
So, it seems as though DMPs areone of the clearcut ways to navigate the new GDPR compliant internet space as all PII (personally identifiable information) is removed which in turn removes any privacy concerns (Medium.com, 2021).
What Are Snack Media Doing About DMPs?
On behalf of our network of over 500 websites and forums we have invested into our own Data Management Platform so they don’t have to.
We wholeheartedly support the direction the industry is moving towards with regard to protecting online users’ privacy.
As such, this IS a viable option that will safeguard all users who visit any websites within the Snack Media network. Additionally, it also means that we can utilise all contextual and first-party data to help secure better CPM rates and additional direct deals and campaigns for all publishers in our network.
So, by covering the cost of a DMP for ourvalued publishers we are safeguarding their advertising revenues that might otherwise be at risk when cookies cease to exist. We are putting them back in charge of their own data so they can protect their loyal audiences.
For more information on our DMP and joining our network please get in contact with Lulu@Snack-Media.com