Publishers are recognizing that while content is king, the real power of content is realized through their first party audience data. And, smart publishers are getting more sophisticated in their data management, and using data to better understand, grow, and monetize their audiences.
According to one publishing executive, “the trick today is turning mounds of data into audience insights that ultimately drive development of products [and advertising opportunities] that engage audiences.”
This is the core reason to license a data management platform. To unite disparate data sources and transform it into fuel to personalize, contextualize and deliver precise experience for audience and advertisers.
A comprehensive Data Management Platform (DMP) provides centralized control of all first party audience data as well as robust tools to analyze this data to create new audiences and inventory and revenue in real time.
What Savvy Publishers Are Doing Today
Publishers have a lot of data at their disposal and it’s up to them to put it to use to ensure their inventory and audiences are not commoditized. They need to drive revenue by creating custom audience segments and better package advertising inventory advertisers. And today’s savvy publishers are doing just this is via the use of a DMP.
Key opportunities to monetize data that publishers realize from unifying data include:
- More sale-able audiences for advertisers: Organize audience data from various media properties to scale audiences and inventory.
- Higher Average CPM: Segment granular audience data making the site’s and/or company’s inventory more valuable to advertisers and allowing the publisher to earn higher CPMs.
- Reduced Remnant Inventory: Convert more inventory normally sold as remnant to more valuable segments for advertisers reducing the amount of lower CPM remnant inventory sold.
- Drive Audience Growth: Create clear insights into how each audience segment is performing and measure how audiences interact across multiple properties to drive new subscriptions and subscription revenue and upsell/cross-sell to existing subscribers.
- Optimize Website Performance: Optimize the experience by serving the right content to the right audiences at the right time; a happy audience is less likely to engage in ad blocking.
- Data Sharing: Scale data by joining forces with brands or competitors to consolidate and share first part data in a way that produces meaningful, actionable data that can be sold at higher CPMs.
Some of the biggest publishing brands in the world realize the inherent value of using a DMP to monetize their first party audience data and increase advertising revenue including Forbes, who will be utilizing the Oracle Data Management Platform to to analyze its core user base and to provide advertisers, including those running a native BrandVoice program, with enriched detail about the audience that their campaign has reached.
The DMP Is The Roundabout
As roads to programmatic advertising, social media, marketing automation, and big data continue to play an increasingly important role in marketing, it’s at the intersection where you will find data-driven success. And that’s the roundabout we call the data management platform (DMP).
Download The Guide to Advertising Accountability to start your journey to data-driven marketing today.