Data Management Platform – The missing link in segmenting and targeting your digital advertising
What is a Data Management Platform (DMP) and how do you use it? Robin Tooms talks about why this is more than marketing's next “shiny object” with Myles Rose, Digital Marketing Operations Manager for Gulf States Toyota.
Robin: Hello and welcome to this edition of Brandonomics, an inside look at top brands and their marketing strategies. I am Robin Tooms, VP of Strategy at Savage Brands, and my guest today is Myles Rose, Digital Marketing Operations Manager at Gulf States Toyota. So Myles, I am so glad you’re on Brandonomics.
Myles: Robin, It’s great to be here, finally.
Robin: Finally, well we have been talking a little bit, and you are doing some really interesting things around digital marketing. I am particularly interested about DMP. So, I want you to share with us today everything you know.
Myles: Everything I know.
Robin: Everything you know about data management platform, and what it is, and how marketers can use it.
Myles: Sure, so data management platform. It’s kind of the newest shiny object in the digital marketing world, and what it allows you to do is take your data out of your database, your customers, and find them anywhere on the internet, and say, “Bid higher for Robin. She’s one of my customers.” Or, “She just bought, let’s not target her for a while and save her money and spend it more wisely on somebody who has not bought yet.” So, it really allows you to take all the data, all the signals that you’re getting, and activate that data, because what happens is in the real world you say, “All right, I’m going to go buy any automotive intender on the internet.” Well so, Chrysler is doing that too, and Ford, and everybody else, so there’s no competitive advantage. The competitive advantage is what data that you have that nobody else has.
Robin: So, any industry can use this. So, when you say, kind of taking this information, what would be a good example of a piece of information that you could act upon?
Myles: Well, so what we’re going for with the data management platform is looking for opportunities to, once a sale has occurred, to allow our dealers to accessorize. To say, “Hey, you know what? maybe you need to get this extra special add on to your car,” and then we also remove them from our list of marketing.
Robin: Yeah. Which I appreciate.
Myles: Yeah. I just bought a car, why do you keep hammering me with ads? And you can even tell it’s not just display ads, but you can tell Facebook, you can tell your search bidder “increase the bid” because we know that this person is primed to buy now. So, it’s a pretty powerful platform and it’s the way to get your serum data that’s lived here in that email only for the last 15 years, to not only just be able to email, but to get people on the map.
Robin: Well, you say shiny object, I say wave of the future.
Myles: Absolutely the wave of the future. In fact, Oracle, the one we use is from Oracle. They made a billion-dollar investment in BlueKai. There’s also Krux and some of the other ones out there, but there’s got to be some consolidation of the space because this data, I mean, It’s so powerful. So powerful.
Robin: Cool. Alright. Well, I look forward to this, thank you. This has been another edition of Brandonomics, an inside look at top brands and their marketing strategies.
Gulf States Toyota (GST) is one of America’s most successful private companies and one of the world’s largest distributors of Toyota vehicles and parts. Founded in 1969 in Houston, Texas, GST teams with Toyota Motor Sales USA and over 155 Toyota dealerships in our five-state region—Texas, Oklahoma, Arkansas, Mississippi and Louisiana—to meet the rising demand for Toyota vehicles and parts. Gulf States Toyota is part of The Friedkin Group. http://www.gstcareers.com/