Bridging MarTech & AdTech: DMP, DSP and CDP Best Practices in Targeted Personalization
If you’re a digital marketer, you’ve got three tough jobs: Finding the right target audience, making the first sale, and converting those first sales into lifelong customers. All three jobs are tough; first, you’ve got to get ‘em to the roller coaster, then you’ve got to talk them into staying for the ride AND then get them to check out all the other rides in the park.[/vc_column_text]
Plus, the webinar demystifies a lot of martech alphabet soup, explaining when and how to combine technologies such as CDPs, DMPs, CRMs, and DSPs for best results and high efficiency. Given by Kevin Dunn, Managing Director New Verticals at LiveRamp, the American Marketing Association, and Henry Li, Director of Business Development at Arm Treasure Data, it does a nice job explaining how to market just as effectively to prospects, first-time buyers, and loyal customers. Don’t have time to watch the webinar now? Save the link for later, and read the key takeaways below.
- Personalization Helps You Master the “3 Rs”: Reach, Retention, and Lifetime Revenue
Adtech helps you reach a lot of people and present a lot of ads, but many data-driven marketers find that they still face a lot of nagging questions: Are you reaching the right prospects? Are you creating brand awareness? And once you find the right audience, how do you convert them into customers? What offers do you present, and to whom? And how do you avoid either losing the sale or leaving money on the table?
- Customer Data Platforms (CDPs) Help Orchestrate the Rest of Your Martech
Automated personalization is the key to optimizing marketing campaigns for every single prospect, maximizing the chances that the customer is in your target demographic, can be enticed to learn more, and might buy if targeted.One key way to do this kind of micro-targeted personalization is to use technology with AI and machine learning for identity resolution, which takes data from many different marketing tools–DMPs, CRMs, and DSPs–and assembles a unique profile for each and every customer. If you use the right technology to do this, such as a customer data platform (CDP), you’ll end up with a constantly updated customer profile for each and every customer or prospect. And that makes it easy to figure out who gets each personalized, targeted ad or promotion, for the best possible impact.With a CDP, you can also use other data sources to add to data from DMPs, CRMs and DSPs. This helps you increase the number of prospects and build more complete profiles for targeted personalization in reach, retention and repeat sales. As Henry Li mentioned in the webinar, combining LiveRamp DMP with Treasure Data CDP helps connect all prospect data and devices, across any channel at any level of granularity.
- Ask yourself: What steps are you taking to drive engagement and loyalty after the sale? Once a prospect converts, digital marketers can further improve customer engagement and retention with artificial intelligence or machine-learning-driven recommendations for cross-sell and up-sell opportunities. By understanding who your customers are and how to find more of them you can begin to grow your business. That’s because customers today expect personal interactions that don’t stop with the first sale, and according to Li, “you can achieve this through targeted promotions and offers [such as] providing rich and compelling content about your product, service or industry through blogs, videos or white papers.” This is an ongoing process that allows companies to continually increase repeat sales, cross-sales and upsells.
- Evaluate: Are your customers converting from free to paid? Are you driving new revenues?
Companies who invest in their martech stack by using CDPs are often able to achieve a higher return on investments. Once your data is unified in a CDP, you can enrich it with third-party data and create lookalikes and then hyper-targeted segments that can be activated through smart, targeted ad campaigns to find the best prospects for your product and service. With visibility into consumer interactions, across all your online and offline channels, CDPs can enable revenue growth in many areas of your business.
Target the optimal audience and learn more about your customers
Customers in the digital world are constantly evolving, and so should your martech and adtech stacks. If you would like to view the recording to the webinar, access it here.
And if you’re looking for CDP technology Arm Treasure Data enterprise CDP is a persistent, unified customer database that creates a unified customer experience accessible to other marketing systems and enables real-time segmentation for personalized marketing. It also provides out of the box integration with DSPs and DMPs.