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If the diversification strategy appeared in the 1950s, it is now more relevant than ever. Why? Because it positions the brand in a virtuous circle. The more a brand knows its client, the more favorable it is to identify the creation of new needs. Identification that allows the brand to expand its relationship and number of interactions with its client. Interactions that allow a better customer knowledge, and so on.
Nevertheless, the current logic of multi-brand groups does not make it possible to fully benefit from this customer knowledge and the associated data potential. Indeed, the activities of these brands are now worked in silo. Thus, by continuing to develop through this logic, they limit the use of their data potential, by exploiting only a tiny part of it. The problematic has laid: how to go towards a group vision and thus take full advantage of your capital and your efforts? Or more precisely: how to build an exhaustive client card, nourished by the points of contact that the client has had with the different brands of the group?
Master DMP – Unify to improve your target
The reunification of all customer journeys and their interactions with each brand is possible thanks to a unique overlay: a DMP Master. The interest of this one is thus to obtain a global customer knowledge at the group level and to be able to benefit from it on marketing campaigns.
The strength of data
Take the example of a global luxury group holding a set of luxury houses in the world of fashion, leather goods, jewelery and watchmaking.
Following the purchase by a user of an evening gown on one of the ready-to-wear sites of this group, we can guess that it is related an up-coming event. But when a woman goes out, in addition to her outfit, she needs accessories!
The DMP Master will detect if this user has already acquired this type of property within the various brands of the group. If this is not the case, simply send her, via an emailing campaign, the advantages of a clutch bag – one of the group’s leather goods brands – for her outfit.
Here you go, by working on the complementarity of the customer journeys linked to each brand, the possibility of multiplying the commercial opportunities within the group happen by itself.
Thus, the benefits of this strategy of diversification are much bigger than we might think. Beyond the cross-selling or up-selling, unifying and centralizing customer knowledge through the different activities and media through the Master DMP provides much more information about the audience, an unexpected level of granularity.
To have all this data at your fingertips without being able to fully enjoy it, it’s still a pity … Do not let them go away, be master of your data.