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How’s Your DMP Doing?

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Alright, first things first. How’s your online advertising going?

In all honesty, the answer will probably be “okay” or “average”. Even with a team of advertising experts, it is often hard to have really outstanding results in online advertising. And that even in spite of the fact that the investments of companies into online advertising are growing rapidly every year, and that people are more and more willing to do all their research and shopping online. So what is the reason for online marketing often not living up to its fullest potential?

It’s all in the data.

There you have it: the answer to my question is data. Companies are collecting enormous amounts of data about past and current customers, website visitors, ad clickers, even the not-clickers, and more. The amounts are so large in fact, that it often becomes impossible for the salespeople and marketers to sort them and apply them in their advertising. The so called “big data” then remains stored away, without ever being put to a real use.

If you’re thinking the same way  I do, you’ll find this to be a huge shame. So much data with so much power that never gets to shine… Or does it?

DMP: Data Management Platform

“Data management platforms (DMPs) are to digital advertising what engines are to cars. They run your ad tech program, but they need a critical element to work: data (like fuel in cars). When a DMP runs well, it displays personalized content on websites, emails, mobile apps and informs call center scripts. It can target advertising for both your customers as well as look-alikes, segments of people with particular demographic or behavioral attributes. That’s the beauty of the DMP: It not only nurtures your existing customers but finds new ones.” — gartner.com

If you want to nurture your current customer base, and at the same time reach hundreds or thousands of potential, high-quality customers, DMP could be just the thing you need. You’ve already got the data (either your company uses its own, or it can acquire data from third party), so now it’s time to get the software that will put them to good use.

Some of the biggest names on the DMP market currently are MediaMath (http://www.mediamath.com) , Krux (http://www.krux.com), Lotame (https://www.lotame.com), and Adobe Audience Manager (http://www.adobe.com/data-analytics-cloud/audience-manager.html), to name a few. Each of these software solutions has its pros and cons, and the choice will be mostly depending on your particular requirements and expectations from the software solution.

Either way, trust me when I say that it’s never been a better time to implement DMP into your company’s marketing efforts than now. It’s effective, it’s fairly easy to control, considering the size of the input data, and it will give you a massive advantage compared to your competitors.

Disclosure.

This is not an advertisement pursuant to 12 C.F.R. 1026.2(a)(2). This is informational, recruiting material intended for mortgage professionals only and is not for distribution to consumers or prospective applicants for residential mortgage loans. Cardinal Financial Company, Limited Partnership, NMLS ID 66247, is an Equal Housing Opportunity Lender. Corporate Address: 3701 Arco Corporate Drive, Suite 200, Charlotte, North Carolina 28273. Licensing information can be found at: https://cardinalfinancial.com/nmls-licensing/.