by: Jonathan Doan | SVP, GM Platform Software
Big data can be a big headache for marketers. Silos of data seem to blur instead of inform the connection between the consumer and the brand. More importantly, companies like Google, Facebook, and Twitter own a direct communication link to customers, and are actively marketing that data to the highest bidder. Maintaining the relationship with your customers and prospects and ensuring that the communication points are sound and timely is crucial to gaining mind and wallet share.
One solution to overcoming data silos is a data management platform (DMP). DMPs are relatively new to the technology stack and provide marketers and business strategists with a customer data warehouse to launch acquisition, retention, growth, and win back strategies. Customers communicate with brands across multiple devices both online and offline; it is critical that data have recency and depth and provide enough detail to communicate the appropriate message to the right channel.
What should a marketer expect from a DMP? The most effective DMP should provide a scalable architecture to ingest first and third party data, rich segmentation and mobilization capabilities across major platforms and an integrated analytics suite that can analyze and re-segment the data in real-time.
In addition, it is important that a DMP vendor provide modeling services and a comprehensive third party data set with a strong match to the organization’s first party data. Modeling helps to identify the key attributes that define a market segment, providing a higher value connection with prospects and as a result, higher ROI.
To better market to consumers, it is critical to collect, analyze and deploy the most accurate and detailed data available. Own the conversation with customers and take back control with a DMP.