What is it that makes California a mecca for the adventurous of spirit? Is it the land which sparkles gold from the goldrush years or the shiny newness of the latest in tech? From boom to bust and the promise in the dash of its life, it holds possibility in action.
Or is it because, as other cities, states, and countries rally and evolve their own tech hubs, California has already settled in as the standard? The Golden State is the home of Data & Analytics. Want to see how high you can go or how to pull yourself up from a failed attempt at success? Look to the place it all began and learn how to make your insights actionable and your business decisions better.
How? Begin with a platform. A Data Management Platform.
You’ve Laid the Foundation, Now What?
Rather than nuggets, blocks, or bars, Data gathering is cumulative. In this case, its divide, segment, and step back for the big picture; a Data Management Platform (DMP) is a unifying platform. In other words, raw Data is collated and changed into usable form. This is the core of Data-driven marketing. It is what helps businesses learn about their customers and helps to set the stage for the actionable insights that lead to happy customers.
The abundance of Data can be staggering. How much of what information do you need to better manage your audience information? What do you need to know beyond the basics? How far should you drill down to shape and activate the Data you’ve been gathering and analyzing?
Having the right Data reach the right customer at the right time can greatly improve a company’s bottom line. In layman’s terms, with a DMP as part of your marketing strategy, you’ll get the most bang for your buck.
Omni and multi-channel sources such as online, offline, and mobile are woven into the connections of DMPs. Unstructured Data collection is a neutral way to help marketers use their audience Data in whatever manner is best for their business. Sources come from first – and third – party sources including mobile, desktop, web analytics tools, Customer Resource Management (CRM) software, point of sale, social media, as well as the basics such as demographic and historical behavioral Data.
- Organization – Determine how you want to define your Data so you can understand it when considering a DMP. How will you segment the information you’ve decided to collect?
- Segmenting and audience building – Once you’ve decided what information you want to gather, you can use the information to build your target audience. Imagine pinpointing a location on a map, then plotting a route to get there.
- Insights and audience profile reports – Here’s your chance to study the information and analyze patterns, trends, and intent. Let’s find out what exactly it is your customers want, so you can give it to them.
- Activation – Now, take what you’ve learned and run with it. This is the implementation phase whether it’s through advertising, messaging, even up your game and add-in the Data management platform information into your Content Management System (CMS). The possibilities are endless.
Focus, Focus, Focus
Here is where you’ll bring everything into focus and see just how far the possibilities can take you and your business. Below are a few ideas and things to consider:
- Set your audience and advertising targets – Determine the parameters for your audience’s interests and needs through the channels they most often use such as content whether audio or video.
- Get personal - Offer personalized experiences for web and mobile users as well as those who prefer to conduct their business offline.
- Game, Set, Match – When it comes to TV DMP, match your audiences on both TV devices as well as digital.
- Learn – Learn about your customer. Take time to get to know them online and offline through every channel available. Go deeper than point of sale information. What is it they’re looking for? What do they want? Why do they want it and how do they want to buy it?
- Grow – Whilst it takes a lot more time and effort to find new customers than to keep current customers happy it’s still important to use that time and effort to your advantage utilizing DMP to grow and cultivate a new audience, too. Build brand loyalty through both returning and new customers.
- Paid search and social – use your Data-driven audiences to target or update paid search including buys on social media.
Ultimately, building a DMP will help you build a better relationship with your customers. It helps you show you have their desires at heart; and a happy customer is worth their weight in gold.
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