There are only two sources of competitive advantage: the ability to learn more about our customers faster than the competition and the ability to turn that learning into action faster than the competition.Jack Welch, General Electric
* Representative Example Product
Step 1: Map desired customer actions to business objectives
- Increase sales from first-time customers
- Drive higher revenue through higher price points and ancillary spend
- Increase loyalty in brand across product lines, service lines and experiences
Step 2: Define DMP project objective
To enhance a brand’s customer intelligence through advanced analytics, better targeting and personalized experiences, resulting in increased revenue for the brand.
Step 3: Map out the DMP Optimization cycle
Step 4: Frame the expected benefits from your Martech stack
Business Performance
Increase revenue by:
- Extending the right offer
- Reducing unnecessary discounts
- Increasing channel shift to online purchases
- Increasing first time prospects
Robust Analytics
- Improved analytics around segmented audiences and other priority areas of measurement
- Cross channel view of digital marketing tactics including Ad and email performance
- Comprehensive tools for predictive analytics such as propensity modeling, anomaly detection, etc
- Integration of the Data Warehouse with Analytics data allows brand to analyze the factors that contribute to higher net sales
Improved Segmentation and Targeting
- Leveraging first party online behavioral and CRM data along with second and third party data attributes to pull together increased number of segments as well as more robust segments
- Look-a-like modeling to find new prospects matching robust segments
- Gain ability to identify & target the highest value prospects
Better cross device identification
- Single ID (marketing cloud ID in case of Adobe) across sites to enable better device stitching
- Better journey analysis across touch-points due to better device stitching
Operational Efficiencies
- DMP driven segmentation model allows a single place for segment creation and activation across targets
- Enables real-time creation of segments and the ability to see the effect of those changes across channels
Step 5: Identify integrations into the DMP
- Push customer purchase data from DW to DMP
- Push CRM data to DMP
- Push call center data to DMP
Step 5: Identify integrations into the DMP
- Push customer purchase data from DW to DMP
- Push CRM data to DMP
- Push call center data to DMP
The link between DMP and predictive analytics