It’s often said that when it comes to marketing, data is king. Numbers don’t lie – with the staggering volume of data being generated today, the truth about your customers’ needs, preferences and behavior patterns are out there; all that remains is for you to gather that data and decode it. This is where Data Management Platforms (DMPs) have a key role to play. In this article, we’ll look into five key challenges that must be overcome for the successful implementation of a DMP.
1. Lack of Expertise
Having the right people to run your DMP operation is critical to its success. During the implementation phase, having a developer with knowledge of JavaScript, HTML and CSS is imperative. When it comes to execution, you’ll need people who can analyze and interpret the data to target your users effectively.1 Whether hiring or outsourcing, the right expertise is a must-have to get the most out of your DMP.
2. First-Party Data Quality
One of the primary objectives of a DMP is to build specific and valuable audiences, and its ability to do so is dependent on quality first-party data.
However, if your organization’s first-party data isn’t all that it should be, there are numerous data quality services that can be leveraged to address the deficiencies. External datasets are another option to consider – they can be superimposed over your first-party data to further bolster the data fed into your DMP.3 Connect as many relevant data sources as possible to the DMP; as it continues to work with different types of data, it builds a progressively clearer picture of your target group.
3. Integration with Legacy Systems
In theory, the installation of a DMP should be a straightforward procedure – simply set up a pipeline to feed all customer data into the platform, and you’re ready to put your analysts to work. Unfortunately, the reality of it isn’t quite so simple. Just configuring disparate systems to exchange data with each other can be a challenging and time-intensive task. Many DMPs offer built-in integration capabilities, but they’re often incompatible with legacy systems. On the other hand, enterprises invest significant sums of money in their software systems over time, and as a result, are usually resistant to the idea of diverging from them. This conundrum must be kept in mind while planning your DMP implementation; ensure that your systems are compatible with the platform, or that your organization can make the changes necessary to derive value from it.
4. Internal Silos
Your DMP’s ability to gather and compile data from various streams within your organization could serve to help dismantle internal silos.
However, there’s not much it can do to break down siloed team structures in which each team works toward different objectives with their own priorities in mind.3 It’s been found that 70% of marketers operate in either completely or partially siloed configurations.6 This, in addition to the traditional separation between media buying, traditional marketing and e-commerce, impediments the effectiveness of a DMP. Setting common KPIs for the different teams and charging someone with the specific task of handling cross-functional challenges will help draw maximum benefit from your platform.
5. Data Security
Strong governance is a requisite when dealing with customer data – the legal implications of failure to handle it securely are serious. Privacy regulations must be followed to the letter, lest you expose your organization to liability. Refrain from storing personally identifiable information, sensitive internet browsing behavior and data on minors. Protective measures must be put in place to ensure that there’s no unauthorized collection of customer data by a third party, and it’s also good practice to set clearly defined access protocols for all involved parties.
DMP implementation can sometimes be a demanding undertaking that’s bound to affect many functional areas of your organization. Incorporating these pointers in your implementation plan can help you steer clear of any possible debacle.
References:
https://3qdigital.com/analytics/taking-dmp-need-know/
http://cuberoot.co/addressing-the-major-challenges-with-adoption-of-a-dmp/
https://www.experian.co.uk/assets/marketing-services/white-papers/WP-DMP-data-informed-decision-making.pdf
https://www2.deloitte.com/content/dam/Deloitte/de/Documents/technology/Data-Driven-Marketing-Whitepaper-Deloitte-Digital-2017-English.pdf
https://www.prophet.com/2015/07/this-oracle-econsultancy-survey-shows-why-data-management-software-is-so-difficult-to-implement/
https://www.experian.co.uk/assets/marketing-services/reports/report-digital-marketer-report-2016.pdf
http://www.bluekai.com/files/DMP_Demystified_Whitepaper_BlueKai.pdf
