A data management platform (DMP) uses a combination of first-party, second- party and third-party data to create a target audience, build campaigns aimed at those audiences and measures the accuracy of each campaign. A formalised document that New Zealand businesses can use to guide its marketing strategy, a key function of a DMP is its ability to pull data from a range of different sources.
DMPs = Cohesion
The typical NZ business sends a variety of communications to consumers using numerous channels including display, email, social, direct mail and others. Each channel delivers data that's fragmented because of the different degrees of personalisation and segmentation that are necessary to appeal to that particular audience.
DMP as a Marketing Strategy
Perhaps because of the formality of the phrase "digital management platform," sometimes a business can become confused and think that this should outline and define their marketing strategy. Instead, it's best to think about a DMP as being a tool that can help NZ businesses achieve their desired strategy.
Not only does a DMP need to bring all the ideas that a business implements together in one place, it also must be able to make sense of the data that those ideas generate. A DMP is a complex and living plan that is a tool that is used to organise a strategy, analyse the data the is delivered and refine the strategy going forward to better meet the business's goals.
DMPs Marry Analytics with Strategy
A DMP is an all-encompassing plan that is applicable to all levels of a business. Management uses a DMP to identify the role of each group and define the methods they use when working with data. Using this information, a DMP is built using the data gathered as part of a comprehensive and unified marketing strategy appropriate for use across multiple channels.
Its ability to use the data gathered by a DMP to generate different audience segments helps the NZ market more sharply define its focus. It's up to the business itself, though, to define how its audiences need to be prioritised to best meet its goals.