How can you get the most out of your data management platform?
Selecting and implementing a Data Management Platform (DMP) can be a complex process. In order to tackle this, Adobe and CACI have released an insightful whitepaper to guide businesses through the practical aspects of adopting a DMP.
Implementing a data management platform
More companies are now adopting DMPs in order to take control of their data, improve visibility, and pull audience data together from across multiple channels. Getting the most out of a DMP does not begin at the implementation stage, however.
According to the report, it is instead a process that begins with a robust, comprehensive business case. For many businesses, adopting a DMP is a "tech first" process, which entails selecting a platform before knowing exactly what they need from it.
Nevertheless, this can lead to poor investments in a platform that fails to meet the needs of a business. Before selecting a platform, it is thus crucial that companies clearly establish their need for a DMP.
Preparing for a DMP
Once an organisation has selected the DMP, the focus should reportedly shift to the practical aspects of adoption. In effect, this entails ensuring that a business has the right implementation strategy to deliver on their business case.
Nevertheless, this is potentially the most challenging stage of the process. In fact, a recent survey from Adobe and eConsultancy found that 40% of marketers find it difficult to develop a cohesive strategy and plan for the future.
People, processes, content, and campaigns
Preparing a comprehensive strategy therefore involves four elements: people, processes, content, and campaigns. As the report notes, "every DMP will require a suitable team to operate the software."
Next, it is integral to maintain a high standard of compliance and data security when handling massive customer data sets. As data protection regulations become increasingly strict, a DMP should protect both consumers and the company.
In order to guarantee better results, companies must first ensure that they thoroughly understand the content that feeds into a DMP. This entails collecting and analysing data from first-party sources, such as a CRM system or website analytics and sales.
Finally, the insights provided by a DMP will deliver the best ROI if a company establishes key aims during the implementation process. In turn, this ensures that the collected data and subsequent analysis aligns with the overall business objectives.
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