Data management platforms (DMP), highly reliant on third-party data, have long served as a one-stop solution to a marketer’s needs. Acting as a repository for data-related needs, the best DMPs have helped publishers in organizing and profitably using first, second, and mainly third-party data to leverage revenue earning opportunities.
In this post, we help publishers in understanding how to set up a DMP and getting them acquainted with the most best DMPs available.
Best Data Management Platforms
While the digital advertising ecosystem is brimming with several DMPs, we have selected the best data management platforms available. These include:
Adobe Audience Manager
Audience Manager (AM) is the most comprehensively designed DMP available for publishers. Some of the features offered by it are:
- Featuring a next-generation Connected Data Platform, AM can gather and merge information about a customer from practically any source.
- Enhanced insights about consumer behavior, browsing and buying patterns, etc.
- Real-time information about changing consumer browsing patterns.
Despite these benefits, Audience Manager is more expensive than other DMPs, therefore not affordable for small to medium-sized publishers. It is also more technical which requires a considerable amount of time in getting the most out of the product.
Unlike other DMPs, Lotame is an independent data management platform. It can be integrated with any new technologies, thus flexible in nature. Some of the features offered by Lotame data management platform are:
- Enhanced audience segmentation, thus helping in identifying the best leads.
- Flexibility: Publishers can integrate Lotame with all major platforms including ad servers, BI tools, DSPs, SSPs, and others.
- Flexible pricing which allows publishers to only pay for customized solutions.
BlueKai is regarded as the world’s top big data management platform. BlueKai has a variety of features that help publishers in properly segmenting and analysing their audience. Some of the unique features are:
- Oracle ID Graph: This helps in uniting varying sources to form a single profile of a consumer. It is powered by the Oracle Marketing Cloud and the Oracle Data Cloud.
- Publishers are offered cross-selling opportunities to reach multiple businesses at the same time.
- Unification of Consumer Data
A lot of people are already acquainted with the solutions provided by Salesforce. They also have a popular DMP considered one of the best data management platforms available. Some advantages of using Salesforce DMP are:
- Supertag Feature: Salesforce DMP can manage all the tags, thus helping publishers in retargeting customers.
- Quick Support: Through a ticketing system, Salesforce DMP support resolve queries fast, thus helping publishers sail through the experience.
A recurrent review of the product is slowness of the system and limited facilities available as compared to Adobe Audience Manager and BlueKai.
SAS Data Management
SAS Data Management is one of the oldest DMPs available. It has long served as a reliable data management tool by publishers. Some of its key features are:
- An end-to-end event designer for building and editing data management processes.
- An intuitive, role-based GUI for managing process with drag-and-drop functionality that reduces the need for programming.
How To Choose The Best Data Management Platform
Choosing the right DMP is highly dependent on the niche of your website. Understanding your goals and the objective of your publishing platform is essential to finding the best DMP. Here are three common metrics for assessing which data management platform will fit your needs:
Return On Investment: Data management platforms can be quite expensive and require a sizable investment. That being said, expecting a high return is only natural. The best way a publisher can measure this is by evaluating the amount of value a DMP can add to their inventory. Some metrics for measuring this include DMPs providing enhanced insights into the audience, adding structure to the data, and connecting data sources.
Campaign Optimization: A good DMP will always provide options to optimize campaigns that you run. Some of the metrics that you can refer to are provision of both manual and automated campaign optimization, ability to identify target audience more suited to buy your product through your campaigns, thus reducing excessive campaign spending, and others.
Data Collection and Organization: Ordinarily, a DMP should be able to aggregate and properly organise first-party data. This includes data acquired from all first-party sources including CRM, registration lists, online, offline, etc. Additionally, the best data management platform should also provide access to second-party data inside the platform. Second-party data exchange details should also be initiated by the DMP itself, saving you time and investment.
Setting Up A Data Management Platform
Setting up a data management platform is a variable process and is dependent on the DMP you choose. It is also a task that requires a substantial amount of expertise and time. However, some general points to keep in point before setting up a particular DMP are:
- Figure out the kinds of data you are planning on gathering, merging, and organizing in the DMP. This could include behavioral data from mobile apps, data collected from CRMs, etc.
- DMPs are expensive. For this reason, it is necessary to define the exact uses you will be needing a DMP for. In alignment with those uses, you can accordingly purchase specific features.
- Recruit and enroll qualified data science engineers and project managers who can constantly use DMPs to its exact potential. DMPs are quite technical and their services can go under-utilized if proper time isn’t invested.
- Understand the methodologies which your DMP uses to quantify and arrange data. Also, how will you work together with your DMP to capture the right data. Data capturing methods should be your priority in getting the most out of your data management platform.
- Sufficient planning is key to extracting maximum benefit from your DMP. Also, comprehensive training before starting with your data management platform experience should be pivotal in ensuring a satisfactory experience.
Addressing The Uncertainty Regarding The Future Of DMPs
Recently, Google announced complete phasing-out of third-party cookies by the year 2022. Inadvertently, publishers and ad tech industry experts are hinting at the probable demise of data management platforms.
Some of the threats looming over DMP technology include increased consumer intervention in regulating user data, impending demise of third-party cookies, and ad-blocking software. Some industry experts believe that the technology will outlive its usefulness and may collapse. Other industry experts believe that it will experience an evolution with prominent DMP companies investing in deals and collaborations with publishers to sustain.
“When [Google’s Chrome] announcement came out, some said the DMP was dead. It was an oversimplification and just factually incorrect. There will possibly be more partners in the future. You’re going to need a village of partners with different perspectives to bring datasets together and see what’s what.’ – Adam Solomon, CEO of Lotame for AdAge.
Amongst this confusion regarding the certainty of DMP’s future, the resonating sentiment is that the technology can sustain with partnerships and other techniques. And while that lasts, the best data management platforms are here to stay and help marketers.