The launch of attribution or DMP projects has exponentially risen among advertisers since early this year…
The launch of attribution or DMP projects has exponentially risen among advertisers since early this year. Indeed, the growth of programmatic channels in marketing budgets forces CMOs to control and to optimize these, which oftentimes induces the implementation of a Data Management Platform.
Players in the fields of DMP lately are all about “activating the data”, this encompasses several steps: collect, normalization, and data standardization. Henceforth, when data is reconciled, I am able to feed it into all my acquisition channels (display, retargeting…), and I can also craft segmentations aimed at my customer relation tools (emailing, texts, push, print…). Indeed, the strength of my DMP is to retrieve my CRM information and to set an anonymous cookie to my CRM/PRM data when I have a corresponding profile.
Why only limit the use of DMPs to the improvement of targeting efficiency?
In an environment where around 60% of conversions are multi-touch, even when I send the right message to the right person through the right channel, there is still a 60% risk that this message alone will not be enough to generate a conversion…
Furthermore, guiding one’s acquisition strategy solely based on transformation rates, on last-click attribution, or on contribution metrics creates new silos within the company. These KPIs do not encompass the entire customer journey, and subsequently still lead too many advertisers to take biased decisions.
UMIA (Unified Marketing Impact Analytics) or contribution analysis tools analyse the customer journey as a whole. This helps activate the right messages through the right channels of your media plan. The unification of all the clients’ touch-points with a DMP goes in the sense of a growing inclination towards a complete customer journey: clicks, view, device/browser, sales channel, print…
A DMP that is well integrated to all data collections solutions acts as a hub and feeds your campaign planning tools, such as Routing/CRM, DSP/Agency… This enables the tactic improvement of content and targeting… The systematical and concurring analysis of information related to the whole customer journey enabled by a contribution solution enhances the strategy of my media plan as a whole.
What about the evolution of these solutions? DMP / UMIA solutions enable the mastery of one’s customer journey and of the messages to deliver. Goals multiply as our clients mature, consequently, this state of the art combination helps them deal with many related issues
Attribution / Contribution by client type: How to address my clients depending upon their status in my CRM? What is their customer journey?
You will be able by examining this data to adapt these different channels depending upon your customer segmentation: customer/prospect, 1st purchase / 2nd purchase, RFM segmentation… Thus you will grasp how your clients behave, and which channels lead to repeat purchase vs. those that usher in the acquisition of new clients.
Attribution / Contribution by product category: Is my customer journey different depending upon the different product categories I sell? – “Maybe”! Then why not integrate this variable in your analyses?
Thanks to this new set of data you will have fresh insights in order to plan your sales cycles, stock, private sales, flash sales… You can then adapt your merchandising to know what is your cost of sales per product or category, how and through which channels you will attract new clients on this same product range.
As you can see, by combining a DMP with an attribution and contribution solution you will better deal with your marketing issues. You will have an improved collect, a methodical analysis of your customer journey. You will also know how to optimize your marketing mix in order to acquire new clients, while at the same time determine the actions to take to launch campaigns built around product type. This winning combination truly is at the heart of a data-driven marketing strategy!