5 questions to ask yourself before buying a Data Management Platform
In the last couple of years, Data Management Platform (DMP) has become the hottest digital marketing buzzword.
Every CMO and CDO has a plan to improve digital marketing efficiency and synchronize every touch point of the customer journey : display, search, social, sites, e‑mails.
DMP is the new tool that reaches the holy grail of marketing; to aggregate every available bit of data and stitch them to a unique user. Leveraging a DMP seems obvious and a “necessity in the age of the customer”. Asking yourself the right questions before starting such a key project will help you avoid the common fatal errors.
Here are the 5 steps which will help you start crafting the framework of a successful DMP implementation.
1. Why do I need a Data Management Platform ?
This question might sound weird since almost any organization should leverage a Data Management Platform (DMP).
However, this is probably the most important question you’ll have to answer.
By answering it, you’ll find out quickly the real challenges for your organization and you’ll ensure that your team goes through a proper project assessment.
Starting to implement a DMP without digging into the details is the most common mistake I’ve seen over the past few years and it often leads to irrelevant and painful projects. Implementing a DMP will definitely modify the way you think and collaborate inside and outside of your organization and will change the paradigm of your whole brand ecosystem : workflows, technology, agencies, partners, media …
2. Which ‘use cases’ do I want to achieve ?
Use cases are the illustration of the starting point and the way a DMP will drive value for your business or organization. Imagining detailed use cases and validating them will help you keep your project on the right tracks. They will enable you to build a framework that will help your different teams, your agencies and partners to ramp up the learning curve. There is no linearity in such projects. All your uses cases will be tested, kept or dropped then replaced by new ones in a very iterative process made of continuous short testing cycles driven by a failure-tolerant mindset.
3. What is the measurement framework ?
As for any other project, measurement is a basic requirement. After having defined the use cases and their business goals, measurement is the logical next step that will make you think about how you are going to assess success and failure. Your Key Performance Indicators (KPIs) must be specific to your industry and meaningful for your organization. They will be different for each channel and related to your area of focus: media optimization (display,search, social), site personalization, e‑mails or any combination of these 3 options.
4. What will be the impact for my organization ?
Aggregating any source of data and leveraging it to improve digital marketing efficiency is a fantastic opportunity for any brand. It is also a real challenge when it comes to putting the data together, irrespective of the department or business unit which ‘owns’ that part of the company’s knowledge. It requires a true collaborative workflow and a platform approach, breaking silos and setting a new way of working between teams.
5. Am I ready to change the way we’re working ?
This is probably the most important question and is not optional. Changing the way you’re working is precisely what makes the difference between winning companies and the rest of the market. Silos, barriers, vertical organization and absence of shared goals will prevent your brand fully leveraging a DMP and unleashing data assets.
Now you should have a better idea of the key questions before starting a DMP project.
Most importantly, you need to reverse the questions and ask yourself all of them in the real order : question #5 is really question #1, question #4 is #2 etc. Then you will know why you need a Data Management Platform.
Want to know more about DMP and discover success stories ?
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