DMP, the magic recipe to make use of dataAll news / 3 April 2017
SAAS, SAP, ERP, GED, ROI… there are dozens of acronyms. However, there is one that could change your way of managing and make use of the data collected during your activity. This acronym is the DMP – the Data Management Platform. Are you wondering what these three words actually mean? Follow the guide!
A secret recipe Imagine a druid gathering together all the ingredients needed to prepare a magic potion. This old spiritual character must mix up one by one all the ingredients massed on the shelves at his dispensary, measure the right and balanced amounts of them and stir them in a precise order so he can obtain the best concoction. In regard to data, the principle is the same. Do you need to reactivate certain clients with a specific profile? You must be able to target these clients by using CRM-centric data. The clients you are aiming are the ones who have bought on your site at least 10 times but haven’t bought anything for at least one year, who also have visited the site in the last month and who have put a product in the cart but never finished the sale in the last 3 months. Once the criteria have been defined, crossed, mixed and assembled, it will allow you to create a list including the clients whose profiles perfectly match the ones you want to contact again. You are no druid, but thanks to the DMP, you will be able to define all the variables of the profiles to reactivate in just a few clicks, the same way as if you assembled all the ingredients of a recipe, no matter how complex it is! From magic to technological reality… The ingredients in your potion are hundreds of thousands of data collected every day via all possible and imaginable channels. These ingredients are all over the place, disseminated in the shelves in the wizard’s laboratory. The druid, that is you, spoon in one hand, ready to mix up the ingredients but a bit lost to identify on your shelves the different ingredients that you will need to prepare your potion. The DMP is going to work as a druid’s assistant who will check kilometers of shelves to collect all the ingredients for the mixture without mistake, and will sort them according to the recipe book. Thanks to this sorting, the druid is able to keep only the molecules of each ingredient which are essential for the creation of this complex alchemy, obligatory for your own growth. Your DMP will also reconcile all your collected data to offer you a real in-depth vision of the interactions with the users and allow you to segment your customers’ data. To do this, the platform needs to have access to your CRM-centric data. This allows the platform to understand and to make an inventory of the whole of the ingredients it will be able to combine to produce the magic elixir… Identify the client’s journey in a cross-channel process It would have been unthinkable for a druid to imagine what a cross-channel process must represent for us today! Website, smartphone app, mobile site… the contact points between a user and your business are multiplying! The challenge is to be able to follow the user through no matter what channel they decided to use to interact with your brand. When the druid goes look for mistletoe, he knows where he’ll find it. It’s an easy target. However, today data come from all types of sources. The DMP brings closer the different ways to identify a client, in order to provide a synthesized vision of their interactions. The DMP can recognize a client by their ID (which they’ll use in an app or on a website), by their email address (if they are subscribed to a newsletter), or if they scan a QR-code from a magazine, for example. The DMP allows you to reconcile all the contact points between the client and the brand, unifying the buying cycle. Thanks to a more precise and universal knowledge of the client, it is possible to adapt the offers and propose a much more satisfying experience in order to improve the conversion. By making use of a DMP you will be able to have a coherence in your communication, as the platform allows you to send adapted messages answering the customers’ needs. You may retarget active clients – who have opened the newsletter but have not clicked on it – with an offer on the product appearing in the newsletter. The DMP allows you to identify the recipients and manage the two-phase reminders with innovative offers. By creating this segmentation, you will limit your investment to the target audiences offering the best conversion rates, as well as customize the website according to a customer’s profile, or even adapt your bids to keywords related to your strategy. Optimized programmatic targeting, databases updates, customization, and adaptation of marketing messages, media management… Beyond making easier the creation of that magic potion by gathering big amounts of data, the DMP will be able to identify who need the elixir the most, and how much of this elixir they need! This will significantly make the druid’s job easier and optimize the efficiency of his actions.Read moreHide