11 Things to Look for When Choosing a DMP
DMPs are becoming more popular than ever. However, you need to make sure that choose the right one. If you are considering investing in a DMP for your business, you need to know about data protection, storage and potential for integration with other tools.
In this day and age, one of the keys to succeeding in digital advertising is exercising data properly. The success of your campaign depends on understanding the difference between a “data giver” or a “data taker”.
Somedata takers do their job very well, such as Google and Facebook. However, others have much more limited data capabilities.This means that brands must invest in a DMP that compensates for these limitations. The reality is that all companies are able to establish their own path, decide what data they share and establish measures to avoid sharing the rest. This is what DMPs are made for.
DMPs Help Regulate the Processing of Data Between Data Takers and Data Givers
Do you let all of the data be in the hands of the data taker? Or do you try to limit it to your own business? These are things to consider when looking for the best DMP software on the market.
The most practical option is probably somewhere in the middle. We have DMPs that make that possible.
A DMP is a very sophisticated system for exchanging and managing information about our visitors. It integrates internal data (CRM, Analytics) with external data (data providers, agreements with strategic partners, etc.), and uses all this information to define audience segments and optimize campaigns via DSPs and Lookalike and cookie matching methodologies.
Faced with so many data connections, we must ask the following questions before selecting a DMP:
- Does it guarantee data control?
- Does it convert our information into exchange currency with other clients?
- Will I be feeding the market?
A good DMP can prevent data leak, which is very important. If it also uses native data and monitors data in real-time with the cross-device analytical information associated with a user, then the DMP is going to give us a much more segmented, personalized perspective that allows us to take much prompter actions.
But if we do not control the data becauseit is the property of a “collective entity”, then the DMP will be a double-edged sword. This happens when the DMP not only solves many of our challenges, but also gives them to the competition. That could potentially involve our competitors trying to steal our customers by accessing the data that we worked so hard to collect.
A good DMP will allow us to escape the risks of of the “data takers” and become an actor who controls our own digital destination on our own terms.
What would you look for in a DMP? It will depend on your particular organization,its position in the marketand sensitivity to sharing visitor data with the market. You should look at the following.
Regarding the data
- Who’s the owner?
- How does it comply with personal data protection regulations?
- Where is the data stored?
- Do you collect the data directly?
- What data can be imported and stored?
- What possibilities exist for exporting data?
With regard to the creation of data segments
- What does the data consist of?
- How does it work?
Regarding connections and integrations
- How do you connect to 1st, 2nd and 3rd part sources?
- How does it integrate with DSPs, SSPs, AdEx and other digital marketing mechanisms and providers?
- Does it have multi-device capability?
Image Credits: DMP from Billion Photos /Shutterstock