What is SALESFORCE DMP?
Are you one of those marketers who have a tool open in every tab of your browser? If so, Salesforce DMP (Data Management platform) will come to your rescue.
We get the struggle every marketer is going through - using multiple tools, collecting data in multiple ways, connecting all the dots and making sense of the data to give your customers the best customer experience.
“Data-driven marketing is a top priority for marketing leaders – 40 percent of organizations aim to increase data-driven marketing budgets, and 64 percent of marketing leaders report that data-driven strategies are vital in today’s economy - Marketing Evolution”
Data driven marketing shouldn’t be that hard but it has become one due to the use of multiple marketing tools for different purposes. With Salesforce DMP you could bring all data to one spot and derive marketing strategies at ease.
This article covers what is Salesforce DMP, it’s necessity and also a real time use-case of how it can be used. Let’s dig straight in.
What is a Data Management platform?
Data Management platforms (DMP) as the name suggests is a platform to have all your digital data at one place i.e., data from your marketing tools, CRM, etc at one place.
You tend to gather data about customers at every stage of their journey, from the moment they visit your website to purchase. All this data can be gathered and analyzed to make better marketing decisions like what campaigns to run, which channels to use, which segment of customers to target, etc. It also saves money i.e., you can optimize your marketing spend by making a one-time DMP tool purchase.
Usually DMP does the following functions
- Collects data from various online, offline sources
- Classify data and create user profiles or segments
- Integrate with first, second and third-party providers
- Show reports from all gathered data to make meaningful decisions
With Data Management platforms you could connect any source - be it your own data or from any third-party tools. This central data management has its own perks, let’s check about it in the next section.
Benefits of using DMP
- This one is a given. DMP brings all data together and there are no data silos
- With DMP, you could find the target group of customers, and also lookalike segments
- You could plot data-driven marketing strategies and ultimately increases sales and revenue
- You could optimize marketing costs, run effective campaigns and increase the ROI
- You could run cross device marketing campaigns i.e., mobile, desktop, etc
- You get to know your customer needs and then improvise your customer journey
One of the many DMP is the Salesforce DMP, in the next section we will discover more about it.
Salesforce DMP Explained
Back in 2017 Salesforce acquired a company called Krux and rebranded it as Salesforce DMP. Salesforce DMP gathers data from own and external sources and creates detailed user profiles.
The power of Salesforce DMP is getting insights by combining the customer/first party data like email address, purchase history, etc and third-party data like web cookies.
Salesforce’s Data Management Layer is complemented by Einstein AI capabilities as well. You could find the best set of customers to reach out to with ad campaigns and what sort of media could be used in these Ads.
DMP vs CDP
DMP vs CDP is often confused, so we took it as a duty to demystify about it in this blog.
Let’s start with similarities - what both tools can do?
Segmentation, predictive scoring, reporting, attribution support, and identity resolution - DMP vs CDP
If both are going to be used by you and your Marketing team, then DMP should be up and running first. Then CDP like Datorama could be prepared. Let’s dig into the differences between them now
CDPs are gaining popularity at a rapid rate.
“According to the 2020 State of Marketing Report, among marketers who say they use CDPs, 86% are increasing or maintaining their use of them”
If you are already wondering why you are not in that 86% then without further delays start using one by leaving a comment or email.
CDP and DMPs could be used in parallel or together to derive more insights about your potential customers and existing customers. This way you can make smarter marketing decisions.
Salesforce Audience Studio
As we know by now, Salesforce DMP will gather, unify all data at one place and allow you to segment target customers for your marketing campaigns. Salesforce Audience Studio
Once you get all the data in, you could add rules to refine the customer segment. For instance, target from your region and/or if the target has visited your website recently, etc. You could also leverage lookalikes to expand your target size.
Lastly, you can activate the segments across the right marketing channels and find useful insights. You could integrate third-party data. The list of different sources from which you can purchase third-party data is made available, check it out.
Deriving marketing insights from multiple data sources might get messy. What if AI could do the job for us? That’s where Einstein Segmentation steps in.
You could automate target segment building activity and quickly gain insights about your customers.
Data Driven marketing is more important than ever. DMP tools could make the job easier for marketers like you. You could understand your potential, existing customers better - their likes, activities and much more and perform marketing activities accordingly.
“With data collection, ‘the sooner the better’ is always the best answer.” – Marissa Mayer
If you are a marketing personnel, by now you would have realized the importance of getting all marketing data at one place, deriving insights from it or in simple terms the value of data-driven marketing. Act now!
If you would like to get started with DMP, please leave your queries as comments and our experts CloudIdeas are happy to answer.