• by Tyler Loechner  @mp_tyler, July 16, 2015

The programmatic advertising world is powered by data, and as such, marketers are putting a lot of faith into data management platforms (DMPs). In fact, over two-thirds (68%) of marketers say that DMPs are the “key to the future of programmatic advertising,” according to a new report from Econsultancy and Oracle Marketing Cloud.

Econsultancy took a global survey of over 170 senior marketers from brands, agencies and “other industry experts” for the report.

One reason marketers are placing their bets on DMPs is because the data platforms are the key cog in cross-screen campaigns. Over half (60%) are already using their DMPs to reach consumers in multiple ways beyond display advertising.

However, the majority of marketers surveyed have only been using DMPs for a relatively short period of time. Econsultancy found that 58% of those surveyed that are already using DMPs have only been using them for two years or less, and only 20% have been using a DMP for four or more years. In Europe, Econsultancy notes, one-third (35%) of companies using DMPs have only been doing so for fewer than 12 months.

“The benefits of using data management platforms are becoming more widely understood by companies who are keen to make sure they are using their own first- and third-party data to gain a competitive advantage,” stated Linus Gregoriadis, research director at Econsultancy. “DMPs can help with better targeted display advertising campaigns, but they are also being harnessed to deliver a better customer experience across a range of touchpoints.”

“We’re starting to use [DMPs] but we’re just working out where it’s going to be most useful,” Jemma Jones, department manager, European marketing communications at Honda Motor Europe, is quoted as saying in the report. “Considering we are a pan-European business it can be quite complex to get all the data points together. It’s complex in one market, let alone across the whole region.”

Getting data points together -- and gaining control over first-party data in one central location -- was considered by most respondents (53%) to be the No. 1 benefit of DMPs.  Another half (51%) said that using the data stored in DMPs for marketing personalization is the No. 2 benefit of the data hubs.

The full report can be found here.