It used to be that marketing was something of a guessing game. Marketers would spend months creating campaigns, deliver them, and hope they had an impact. With the arrival of technology solutions and real-time data, that’s all changed. Now, all marketers are accountable for driving the business forward, whether that’s measured by topline sales, conversions, margin management, or category share. The most impactful marketers are using data and performance results to drive their decisions and strategies.
Data management platforms (or DMPs) are one of many technologies that brand managers and advertisers have turned to do vital tasks such as collect audience data, create audience segments, and match those segments with personalized messages and across programmatic media channels. But marketers can’t rely on DMPs alone.
To succeed, marketers must be able to answer questions such as: What’s my return on ad spend (ROAS)? How many dollars do I get back for every dollar I spend? ROAS is a particularly valuable metric for marketers since it essentially measures the effectiveness of their campaign advertising spend.
Yet creating a complete ad measurement picture on DMPs has been a challenge for marketers because performance and audience data live in silos, which limits full picture visibility. This makes analyzing complete campaign impact and spend performance difficult. To reach a point of understanding and insight, marketers either resort to measuring performance piecemeal or they attempt to manually compile this cross-platform data manually. Both approaches consume valuable resources, are often error-prone, and leave marketers little time to actually action against any insights they might find. Money is frequently left on the table because marketers aren’t equipped with the real-time data and insights needed to make advertising adjustments to increase conversion and ROAS.
Marketing intelligence and data analytics platforms such as Datorama, a Salesforce company, relieve the pain points associated with this current approach. Datorama does the heavy lifting of piecing together disjointed audience and performance data sources to create one comprehensive view of audience and performance data. This provides a new level of transparency into audiences, channels, campaigns, and sales performance. Marketers now have the time and insight required to make in-flight campaign and spend optimizations based on the real-time performance of their creatives, messages, offers, channels, and audiences.
These marketing intelligence systems can also automate the time-intensive, complex reporting processes and facilitate speed-to-insight, speed-to-value, and total performance shareability. Marketers have the option to drill into campaigns to understand growth drivers, ROAS, engagement, or channel performance. With this degree of insight, they can adjust ad spend to maximize both top and bottom line results and hit their marketing objectives. Marketing intelligence platforms help marketers by combining real-time data, real-time insights, and real-time buying capabilities to inform strategy and enable smarter marketing decisions.
If you’re interested in learning more about how Datorama helps marketers make the most of their advertising investments, visit us at Datorama.com or view our latest blogs on top advertising dashboards and KPIs.
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