Big data is playing a very important role in content creation. A number of publishers are investing in data-driven strategies to:
- Better analyze customer behavior
- Scale content production
- Ensure content meets their quality guidelines
A few years ago, many experts questioned whether big data was even worth the investment for online publishers. However, more recent studies have shown that is invaluable for boosting revenue. The trick is to invest in the right platforms. There are plenty of great resources to assist them. New data management platforms are playing an important role. They use the latest big data algorithms to assist publishers.
Data Management Platforms Are Redefining the Role of Publishing
Publishers are starting to realize that there is power in content quality. The end product is highly dependent on how they make use of first party data. The smart publishers in the industry are getting better and better with their data management strategies. They know how to use data to understand, monetize, and grow audiences becoming a major trend among large scale publishers. The trick is converting the mounds of consumer information in your hands into audience insights – something you can only manage with a DMP software. A sophisticated data management platform can help you unite dissimilar sources of data and use them to personalize and deliver specific experience for advertisers and audience. It provides control of first party data as well as functionalities to filter this data, analyze it and create new audiences in real time.
How publishers are making the most of data management platforms
Publishers may have too much data in their hands and most of the time they just can’t figure out what to do with it. It nonetheless remains their task to ensure the data is put into good use where the end product is new revenue channels from the new audiences. They need to achieve this by building custom audience segments as well as better packaging advertising inventory advertisers, both of which are covered in standard DMPs. Unification of data offers the following key data monetization opportunities to publishers:
- Higher average CPM: Segmentation of granular data, increasing the value of the company’s or the website’s inventory to advertisers.
- Drive audience growth: Realization of better insights into the performances of each audience segment and assessment of audience interaction across different properties to generate new subscriptions.
- More saleable audiences: Organization of data from multiple media properties to augment audiences and property.
- Reduced Remnant Inventory: Conversion of more inventory typically given out as remnant to valuable segments, reducing sale of low CPM remnant inventory.
- Data sharing: Joining hands with competitors or brands to consolidate first-party data in ways that produce meaningful data to be made available at higher CPMs.
- Optimize website performance: Experience optimization through serving of the right content to targeted audiences when they want it. Happy audiences are less likely to block ads in their browsers.
Regardless of the size of your publishing company, use of a DMP goes a long way towards transforming audience into revenue without really breaking a sweat. Some of the biggest publishers on the internet have gone the DMP way and the only way to keep the gap in check is to follow their data management strategies. DMPs help publishers analyze their core consumer base in depth and provide advertisers with useful information regarding the audience that has been reached by their campaign.
Final Thoughts: Big Data Offers New Tools for Digital Publishers
While roads to marketing automation, big data, and social media continue to play a crucial role in digital marketing, the intersection remains the point which holds data-driven success. That point is the roundabout that is referred to as data management platform. With good use of this tool, you are finally going to see the real financial benefit of having a large user base.