Using Audience Insights to Win New Business
Author: Michel Benjamin, Director of Marketing, Lotame
A new report issued on June 6th found that globally, DMP adoption among advertising agencies has risen 49% since 2015. Globally, 79% of agency-side media buying professionals use data management platforms, with little regional variation (EMEA 76%; APAC 81%; US 80%).
However, there are stark contrasts in the way that agencies in APAC, EMEA, and the US are implementing this technology.
Linking Many Data Sources
When asked to identify the biggest opportunity for agencies investing in a DMP, EMEA respondents led the other two regions in the identification of the linking of many data sources as the top chance, followed by sharing audience insights with clients, and optimising integrated marketing programs. In contrast, US respondents identified the use of data in activation of non-digital channels as their top opportunity, while APAC identified feeding data into the creative design process as the top choice.
Given the fragmentation of the European market, with 40+ countries and many different languages, it is understandable why unification of data is necessary. Without one platform to import a company’s various data sources, marketers have no way to get a holistic view of their target audience’s interests and behaviours across screens and devices. Importing data into a DMP solves this challenge, and combines data points about a marketer’s audience for a clear understanding of what makes them tick.
Want to know more about Customer-Centric changes in the business? Take a look at this infographic!
Sharing Insights with Clients
The second biggest opportunity identified by European agencies was sharing audience insights with customers (17%), which was larger than both the US and APAC. While the US is presumed to be the earliest market to adopt DMPs, EMEA agencies quickly realise the benefits of a DMP by providing audience insights to their advertisers. In the cut-throat agency business, offering clients additional information and ideas to feed their future marketing strategy can be a value-add that makes an impact.
Using Data to Win New Business
25% of EMEA agencies surveyed also report using data and insights in new business pitches over 60% of the time. This number is almost equal to the US companies surveyed (27%) and well above the number reported in APAC (8%). Again, you can take this to mean that EMEA agencies are not only collecting data from many sources, but they are using the insights gathered to win new advertiser business as well as service existing clients.
DMPs give agencies the ability to centralise and manage their disparate databases, analyse their marketing efforts, inform content management systems, and offer additional insights into their target consumers and how to reach them. The customer journey is often fragmented and confusing, but DMPs can help unearth the very factors that influence purchase decisions.
These insights can then be fed into the creative design process and overall marketing plan to inform truly data-driven marketing strategies. By helping advertisers better understand who it is they are selling to, where and when they can reach them, and how likely they are to engage, agencies find themselves in a position of power and influence.
The full report is available on the Lotame website here.
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