A survey of 200 brands found that 40 percent are already using a data management platform (DMP) to understand existing customers and prospect for new ones. An additional 30 percent said they would implement a DMP in 2013, according to a report released today from Radar Research and BlueKai.
The study queried more than 200 senior marketing executives responsible for technology and marketing decisions within brands, agencies and publishers. More than 60 percent of marketers said the ability to gain customer insights across channels such as display, social, mobile and video simply vertical integration to drive better targeting for online display advertising
More than two-thirds of marketers surveyed said that finding new prospects and analytics were the top reasons to use a DMP platform.
“DMPs were initially built to inform display, but more and more marketers understand they have to utilize that data across channels. They’re all interested in finding ways to leverage those insights in all the different ways they speak to a consumer,” said Cory Treffiletti, senior vice president of marketing for BlueKai.
Nevertheless, 64 percent said improved ROI was a main driver for use of a DMP, and 60 percent said the technology would help the company to more effectively centralize, organize and leverage first-party, online and offline audience data for targeting, whether that first-party data was internal or a client’s.
Treffiletti said that, while more marketers understand the value of first-party data, many still have not been able to take full advantage of it. “They will get to a point where the first-party and third-party data can be merged together to create even more robust segments,” he said. “But we are still in the maturation stage of the data side of the business, so people are still learning about how to take advantage of those things before they merge them together.”
BlueKai offers its Data Management Platform as SaaS, with 12 Fortune 30 corporations as customers. Last week, Jumptap announced a partnership with BlueKai to allow advertisers on the Jumptap mobile network us access BlueKai’s online data segments and algorithms for mobile advertising.
The vast majority of companies surveyed wanted to lean on data even more heavily (81 percent), while 64 percent said that data driven efforts would be the lynchpin to their plans. While close to 60 percent of companies reported that marketing now makes purchasing decisions on marketing technology, the big barrier remains resource constraints.
When asked, “What is the main reason for NOT implementing a DMP in the next 12 months,” 53 percent said they didn’t have the budget for it; 38 percent said they didn’t have the in-house resources to manage a DMP; and 24 percent said their digital marketing was still too immature.
Treffiletti said there still is a gap between what marketers want and what they’re prepared to do. He said, “Behavioral targeting started 10 years ago, and the programmatic space got hot five years ago. We’re still at an early stage of understanding how to use data across all the points available, and we’re a number of years away from using digital data to inform offline decision-making and offline touch points. That’s where everything wants to go.”
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What is a data management platform (DMP) and how can this tool help improve digital marketing efforts?
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