Decoding Data Management Platform(DMP) :Prashant Nandan, Director, Digital Media Buying-Isobar
In a layman term it’s a data warehouse, it’s a software that houses information and disseminate in a way that is useful to any business like agency, publisher. Agency now buy media across sites, exchanges and ad network, DMP help us to tie all this at one central place and help us better understanding customer information. DMP is only in good use once you connect this to DSP or SSP, it will help DSP to make smarter buying decision and SSP to sell their ads for more.
So let’s understand what DMPs do:
Import data: – DMP is in the business of taking structured information from a number of different systems and organizing it at the customer level, or at the cookie level. Typically, you would upload just important information about customers, such as their customer ID or email address (to identify them), what they have bought or looked at, their loyalty status – anything that could influence the message you show to them.
Find Audience: – You can instruct you DMP to find audience like male in Delhi over 30 years who use android device above 20K.
Send instructions: – Instructions are basically a combination of (a) who to target, (b) with what message, and sometimes (c) where, i.e., in what channel or on what device.
Now at this point, agency needs there DMP or publishers needs there SSP to be connected here. A growing number of DSP or SSP now provide DMP technologies as well, so that one can use one platform than two. Using a DMP, agency can slice and dice the data to create audience segments for display, video, mobile and search. Using a DMP as opposed to a spreadsheet, a marketer or agency account manager can manage the day-to-day “plumbing” of all their online advertising campaigns in one dashboard – from campaign creation, audience profiling, media buying, and targeting, to optimization, measurement, and reporting.
DMP not only help to pull first party audience data at one place but in fact you can import offline data from your own CRM and so you can analyze in-store behaviors and past purchases and target users anonymously online. Once you’ve collected, classified, and analyzed your first-party audience data in your DMP, you should then be able to leverage that data by transferring it directly to the largest ad networks, exchanges, portals,DSPs, and trading desks to make accurate media buys targeting your pre-defined segments.
Vendors that sell DMP technology to the digital media world currently include Adobe, Krux, Lotame, Aggregate Knowledge, BlueKai, CoreAudience, Knotice, nPario and X+1. Some of those providers also offer DSP technology