NEWS: Marketers failing to take advantage of data management platforms
Under half (48 per cent) of media buyers and sellers currently employ a data management platform (DMP), according to a study by ExchangeWire.
Data management platforms store and organise high volumes of data before dispatching it in easy-to-manage forms.
The study, in association with Oracle Marketing Cloud, revealed nine in 10 DMP users claimed implementation had been a success and 91 per cent experienced positive ROI within 12 months of use.
Respondents understood the refined audience insight a DMP provides, with 73 per cent stating their knowledge of the area was ‘excellent’ or ‘good’.
A third (33 per cent) of marketers chose a DMP in order to offer better targeting options for their advertiser clients, while a quarter (25 per cent) cited improved ROI as their main motivator.
According to the research, DMP technology will continue to experience growth in the next six months, with 21 per cent of marketers planning to implement one.
Zuzanna Gierlinska, director for data management platforms at Oracle Marketing Cloud, commented: “Marketers can no longer shy away from putting in place a centralised data strategy. As brands increasingly rely on digital channels and the technology vendors that power them in order to engage their audience, having a holistic approach to data management is key to driving ROI.
“DMPs are fast becoming an essential tool to help marketers organise, make sense of, and activate their data. It’s no longer the sole preserve of the early adopters, and for modern marketers striving to deliver a personalised message at the right time on the right channel it should be at the heart of their operations.”