This week’s guest blog post is contributed by Quinn Bartsch, DMP Product Strategy, Oracle Data Cloud.
In today’s marketing ecosystem, automakers and their agencies are faced with unprecedented challenges.
Brands have enormous amounts of data and must find ways to leverage that data to help them effectively market their brands, vehicles and services.
A primary challenge is finding ways to reach precise audiences, with relevant messages and creative, at the right time in the customer’s purchase journey. But how do smart marketers incorporate the plethora of data at their disposal?
In this increasingly complex digital ecosystem, many automakers and agencies are solving this by increasing the number of digital campaigns they’re running across channels and platforms to reach the largest buying market population.
This fragmented approach—made ever more challenging by the proliferation of devices, mobile-first marketing, walled gardens, programmatic, use of multiple DSPs and bidding platforms—can have adverse results. These consequences include high frequencies, overlap across campaigns or reaching consumers outside of the target audience, which ultimately decrease overall marketing ROI.
So, how do marketers make the most of the incredible data resources to gain efficiencies in their digital media buys? Our recommended solution is to license a Data Management Platform (DMP).
DMPs assist marketers in centralizing disparate data into one view, which allows them to effectively organize first-party online and offline data and gain valuable insight about these audiences. In turn, marketers can use those findings to intelligently design targeted audiences for their display, search, video and social efforts.
Licensing a DMP enables marketers to improve audience targeting, eliminate wasted media on unwanted audiences and manage audience duplication across plans. This improves their marketing efficiency, reach to buyers and return on investment.
Here’s how we recommend automakers and their agencies approach their DMP engagements.
A DMP should do more than just centralize first-party audiences; it should enable marketers to unlock and activate insights about their first-party data, whether that be paid media, website visitation or their own CRM data. Marketers must understand who their customers are, what attributes define them, how they think, what they’re buying—and likely to buy next. These insights are key to making smarter media buying and campaign planning decisions.
To gain these insights and develop a comprehensive targeting strategy, marketers should ensure their DMP provides access to a myriad of diverse third-party datasets. Highly curated Demographic, Lifestyle, Transactional, Social and In-Market audiences allow marketers to learn more about their current customers and design hyper-targeted audiences to power their media plans to achieve specific goals.
Automakers and agencies should make sure their DMP providers are staffed by industry experts that approach their business with a strategic automotive lens. Partnering with trusted advisors who can provide best-in-class audience recommendations and automotive use cases for acquisition, new vehicle launches and sales events is a critical element to executing a successful DMP engagement.
But, let’s be honest—if it was as simple as one, two, three, every automaker and agency would be doing it. Choose the correct DMP and team to be your strategic advisors to support your data strategy. Let them guide insights and analytics, help you manage overlap and understand when and where you are effectively reaching consumers. This is what will ultimately bring you marketing success and increase your ROI.
About Quinn Bartsch
Quinn manages DMP Strategy for Oracle Data Cloud’s Automotive vertical, helping Automakers and their agencies draw insights about their customers that in turn help drive their media targeting strategy. She has spent her entire career in digital marketing, focusing on data driven tactics and media optimization strategies across all Automotive tiers.