All companies need a strong data management platform – or DMP – in order to organize their marketing strategy and learn more about their target audience. A DMP is a multilayered approach to consumer data that takes users beyond the basic 1st party approach of analyzing traffic and survey data.
Why does your relocation company need to care about DMP?
This idea of different levels of data from more and more distant sources may sound like a waste of time and effort for a local relocation company. So far you have relied on local advertising and word of mouth to get new clients. A well-managed DMP will help you step thing up a gear, or two. If you only have one level of data on customer interaction, you are limited in how many people you can reach. Try and reach too many through multiple channels without a DMP and it all gets fragmented and confused. A DMP also brings data together so that your company can expand into new areas of advertising and social media more easily. It all comes down to managing your 1st, 2nd and 3rd party data.
1st party data:
This is the data that your company has collected yourself by analyzing traffic to your website or keeping physical records of the families that have used your services. This is where you gain information about the demographics your company is appealing to. Are you doing better with commercial relocations and businessmen, or with the young families moving to their new homes across state? Bring together all of your data on clients through analytics and surveys and then work on compiling you 2nd party data.
2nd party data:
This second level is a great tool for building the marketing strategies and reach of your company. To put this simply, this is second level data is the first-party data of a partner in the business. Your relocation company undoubtedly prides itself on great relationships. You have built a reputation as a reliable mover based on staff, your customer relations and strong contacts that keep you on the road. If there are companies and businesses that you work strongly with day-in-day-out, co-marketing can really help both of you to build on your success. Their 1st party data then becomes a secondary source of information on your target market.
3rd party data:
The final level here is 3rd party data. You have your own records from the families you have helped to relocate and you have the secondary marketing information from your key partners and suppliers. Your DMP will compile this all together to find new information, trends and solutions for expanding the business. At the same time, it will uncover gaps in your knowledge. This this 3rd party data. Data supplementation from third party companies can fill the gaps and offer insight on the customers you are yet to meet. How do you cater for the family out of town that want to move to the area and hire a relocation specialist that knows their way around?
Some of these levels are more valuable than others. 3rd party data can be flawed but 2nd part data provides a new range of stats and customer interactions. In the end, a strong DMP can organize all your consumer data more efficiently and offer a great opportunity for growth.
These were some simple, yet powerful tips that can help you bring online visibility to your bussiness, for further information on how we can help you develop a comprehensive digital marketing strategy, give a call at: 786-720-1736.