Why Are Marketers With Sparse Data Licensing DMPs?
VP Strategic Accounts Chris O’Hara has written a piece for AdExchanger about how CPG marketers are using DMPs to dramatically increase efficiency and also reach consumers with the right message at the right time.
Here's an excerpt.
If you think about the companies with perhaps the least amount of consumer data, you may automatically think about consumer packaged goods (CPG) manufacturers.
Hardly anybody registers for their websites or joins their loyalty clubs. Moms don’t flock to their branded diaper sites and they are at arm’s length from any valuable transaction data, such as store sales, until well after the fact.
So, with little registration, website or offline sales data, why are so many large CPG firms licensing expensive first-party data management platforms (DMPs)?
While CPG companies will never have the vast amounts of point-of-sale, loyalty-card, app and website data that big box retailers might have, they do spend a ton of dough on media. And, as we all know, with large media expenditures come tons of waste. Combine this with the increasingly large investment and influence that activist investors and private equity companies have in CPG and you can see where this leads.Read this article on AdExchanger