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Table of Contents

• What is Data Management Software?
• The benefits of Data Management Software
• Typical features of Data Management Software
• The cost of Data Management Software
• Considerations when purchasing Data Management Software

What is Data Management Software?

Data management software is a unified platform that collects, organizes, and analyzes business data from various channels, such as software apps, customer databases, and social media, and presents it in an easy-to-use format.

Data management software offers data-driven insights for advertising agencies, marketers, and publishers, among others, by analyzing targeted marketing strategies from online and offline sources. It helps visualize the insights using graphs, tables, charts, and more.

The benefits of Data Management Software

• Reduces marketing expenses: Data management software provides insights into the most optimal placement of advertisements as well as the content to include in promotional materials. With a better understanding of marketing logistics, your business can save money on advertising by creating fewer, more impactful, audience-focused marketing campaigns.
• Streamlines data access: Data management platforms collect, process, store, and organize information in one centralized location. Since all company data exists in one space, your team can save time and energy by drawing insights from a structured, up-to-date repository.
• Identifies new audiences: Data management software collects first-, second-, and third-party data from customers. Analyzing this data helps identify more specific group identifiers such as household income and user behavior. Your marketing team can use these insights to adapt their online marketing strategies for targeting new audience segments.
• Encourages a deeper understanding of data trends: To create more successful ad campaigns, marketing teams need to understand the audiences they are targeting. Data management software helps organize and analyze data related to the online behavior of new and existing customers to help your business understand what kind of products and advertisements most customers desire.

Typical features of Data Management Software

• Audience targeting: Group audience members based on shared characteristics to drive targeted advertising and personalize marketing initiatives.
• Campaign management: Create marketing plans and effectively manage them to ensure the completion of your brand's campaign goals.
• Data capture and transfer: Import, collect, and capture data from multiple sources, including first, second, and third parties.
• Behavior analytics: Collect, track, and analyze online user behavior data to optimize marketing strategies.
• Competitive analysis: Evaluate the strengths and weaknesses of other businesses with the same target audience as yours, and use the insights to adapt your current marketing strategies.
• Customer journey mapping: Visualize and analyze customer experiences across all channels and touchpoints.
• Ad network integration: Advertise your products or services on websites that cater to your company's target audience to successfully deploy marketing campaigns.
• Customer relationship management (CRM): Integrate with your CRM software to better connect and gain insights into all aspects of your business.
• ROI tracking: Track ROI for investments, marketing campaigns, and more.

The cost of Data Management Software

Most products in this market are priced on a per month basis, billed annually. Pricing can be divided into three tiers based on the starting prices:

Price ranges*:

• $7- $33
• $33 - $274
• $274+

*The pricing included is for the entry-level/lowest-priced offering found on vendor websites on April 13, 2022. These ranges correspond to the 25th, 75th, and 100th percentiles of pricing information gathered from vendor websites of sample products.

Considerations when purchasing Data Management Software

• Total cost of ownership: If you're just starting out, leverage the many data management platforms that offer free trials and flexible pricing plans. Also, select a platform that offers features specific to your business needs. There's no reason to buy an expensive data management tool if you won’t use the majority of the functionalities offered.
• Software integration: When seeking out a data management software solution, it's crucial to consider its integration capabilities. The insights your company gains from data management software are much more useful when put into action, so select a platform that seamlessly integrates with your existing business applications to get the most out of your data.
• Technical support: Before purchasing data management software, consider how often your team may need technical support. Check if the data management software vendor offers support during your business hours. Also, ensure your team can easily work with the support channels available.
• Software updates: Check how often the vendor releases updates or patches to keep their software platform up to date with the latest features, technology, or security vulnerabilities. Regular updates help ensure you get access to the most current version of your data management software solution.