The new frontiers of online marketing see a new role emerge: that of Interactive Marketers. No matter what business they’re in, marketers have one goal: lead potential and existing customers through the conversion funnel. Knowing why and how customers convert becomes crucial to plan marketing strategies and optimize investments, as we’re moving from a channel-centric to a customer-centric approach. Interaction, conversion and purchase behaviours change from one customer to the other based on thousands of factors, however it is possible to group customers into segments based on similar behaviours and common characteristics.
Segmentation is a foundational practice allowing marketers to tailor offers, communication and channels to their audience, however compared to the practices deployed in traditional marketing by their colleagues, Interactive Marketers face many more challenges:
It’s like saying that the way you talk to your audience is determined primarily by the side conversations you overhear as they speak to others, rather than by the way they interact with you and with the place you meet them in. How effective can you expect to be in catching their attention and generating a positive response? If we believe that first party data are crucial to identify conversion opportunities for a given brand who wants to BUY a presence where its audience is, they are as crucial for a brand who wants to SELL that presence. The more a publisher is able to identify the target segments an investor is after and label them using the investor’s consumer-centric language, the more its offer is worth.
So the value lies:
Third party data are still a useful source of information, but they should not be the primary indicators for target audience profiling and advertising budget allocation. Combining data coming from different sources and turning these into targetable segments that can be reached in real time is the purpose of a DMP. Consider building your own DMP to leverage first-party data at best and maintain ownership of their value.
Learn more about Neodata’s DMP solution