Why advertisers need to look beyond technical capabilities in a data management platform
After an advertiser has understood the value that a Data Management Platform (DMP) can bring them and they have decided they are ready for its adoption, it’s time to choose the vendor that is right for them. The technical capabilities of the different vendors can be very complex and are of course important in the selection decision (I will cover this in a later post), but this post will briefly provide some thinking around the key areas of consideration when selecting a DMP vendor outside of their technical capabilities.
Tailored Examples
?A personalised response during the pitch process goes a long way to show that the vendor has understood the business and is willing to go the extra mile. One of the best sessions I have ever seen was when a vendor demoed their platform using dummy advertiser data to really bring to life the use cases they were demonstrating - a very simple idea but this had a big impact on those in the room.
Support
Advertisers must consider how much support they require from the vendor during the onboarding and live stages of the DMP project. It’s then down to the advertisers to decide whether they think the vendor has the desire to really help grow the business by putting the right resource on it or are they simply selling technology and never to be seen again?
Through experience, support is something which is often miscalculated and can therefore get expensive when leveraging the professional services of major DMPs. Support is a very important aspect to factor into DMP decision making.
Usability
One mistake that I often see in the DMP selection process is one that comes to light six months after signing the contract. That mistake is misunderstanding the expertise needed to manage a Data Management Platform.
Data Management is a journey and the adoption of a DMP often requires a lot of change to an advertiser’s way of working. Even the advertisers that are literate in programmatic will need help when it comes to driving that change, generating meaningful use cases and implementation of the platform. The vendors that stand out are those that have made the process of ingesting, segmenting, activating and reporting on data seamless. Identifying the challenges a business may come across when using a DMP and having a process or function to manage these, are also always great to see.
When comparing some DMPs, the difference when making decisions has been on the estimated number of roles needed to operate and rollout the technology. Identifying the existing skill set within the business and any existing partners is critical when evaluating the usability of the platform.
Commercials
At this stage you would have hopefully found at least one vendor that fits your functional requirements, really understands your business and marketing challenges, and also has a solution that you are confident can be managed by its users. The next big key question is whether that solution is worth its proposed cost. Does extra functionality warrant the difference in cost?
Most DMPs have a cost model that is based on data ingestion (calls to a server). This is important as it gives you the opportunity to scale the implementation of a DMP at your own pace. Really consider what functionality (and also resource) you want to pay for in year one and the data you want to activate first. Frame this decision around the use cases that drive the most value and use the least resource. Doing this minimises the risk of paying for data you are not using!
Conclusion
Data management affects multiple areas of an advertiser’s business so often requires a lot of change for the DMP to succeed. As a result, a business in the market for a DMP should be looking for a business partner to help manage this change, not just the technology that requires it.
There is no one size fits all when weighting the value of capability, usability, cultural fit and commercials in your decision. Ensure that you fully understand what is most important to your business before reaching out to providers to fully understand their value in pitch.
I believe that the providers that understand specific business challenges and are flexible in their offering will succeed in being selected by advertisers. For businesses with a clear roadmap and data strategy, look for the vendor that not just acknowledges it, but challenges it.
Data management is no small feat, but with the correct due diligence, planning and implementation it can provide competitive advantages that can produce game changing results for advertisers.