Last week I was invited to take part in a Trader Talk with Exchange Wire, discussing the features of the data management platform (DMP) and how it can help brands better allocate their marketing spend. If you missed it, be sure to take a look here.
The DMP is a really neat solve for so many of our digital advertising challenges. When brands get it right, the rewards are huge.
Challenge 1: How do you pay the right price to reach the right user?
Reaching the right user is essential for brand development, but how do you do this effectively so it won’t break the bank?
Identifying the right users and their profiles relies on using cookies; however this is challenged as today a user’s internet activity is spread across a number of devices, and cookies are unique to each browser. Here at Mediaplex, we work with brands to encourage their consumers to give their consent to join their cookie IDs to a common client ID, in order to achieve a Single Customer View in which you can communicate and identify that consumer as one person. The same technique can be applied to media and actions in-app, where device identifiers are used as a proxy for cookies – the Single Customer View can join multiple cookie IDs and device identifiers.
A Single Customer View allows brands to attribute conversions to media correctly; deliver intentional and considered messages to targeted users; and most importantly have a confident ROI evaluation enabling them to bid intentional prices on display across any of their customers’ devices.