RedPoint Global mashes up CDP, DMP functions in new offering
RedPoint's Digital Acquisition Platform attempts to stop ads from chasing you around the internet after a purchase by mashing up CDP functionality with third-party DMP data.
Martech and CRM systems generally handle a company's own -- or first-party -- data, forming a golden record that unites information from sales, marketing and customer service. The adtech side uses data management platforms (DMPs) to manage more transient second-party data purchased from data brokers and anonymized third-party data from places like Facebook and proprietary platforms that offer ad sales to segmented-to-order audiences.
RedPoint Global's Digital Acquisition Platform doesn't quite turn the company's customer data platform (CDP) into a DMP, but it does intermingle first- and third-party data together in its own private, secured space.
Patrick Tripp, global vice president of product strategy at RedPoint, based in Wellesley Hills, Mass., said the idea is to help brands run campaigns without pestering customers with ads that follow them around the internet long after a purchasing decision is made, while, at the same time, honoring customer privacy settings.
Keeping consumer privacy settings intact
Patrick Tripp
RedPoint partnered with data onboarding vendor LiveRamp, which acts as a connector between CDPs and DMPs in this case, to manage the data flow between RedPoint's cloud and popular adtech platforms.
According to Tripp, once a company learns more about a prospective customer brought in from third-party data sets, combining that information with known first-party data can help refine retargeting efforts -- determining what ads follow that customer around the web.
"Being able to really understand impressions and the ad clicks on an individual level is a major challenge for brands out there," Tripp said. "How many times have you gotten an ad on Amazon or elsewhere about the product you've already bought, or the same thing over and over and over again? That fatigue is what we are trying to [reduce]."
Simplifying the tech stack
How many times have you gotten an ad on Amazon or elsewhere about the product you've already bought?
Patrick TrippGlobal vice president of product strategy at RedPoint Global
The not-so-secret scourge of adtech and martech is it's complicated, said Forrester analyst Joe Stanhope, especially when moving around, using and analyzing data sets owned by different parties for marketing efforts. What RedPoint Global is doing isn't reinventing the wheel, he said; every brand is doing -- or attempting to do -- something like this.
The novel part of the RedPoint Digital Acquisition Platform and the partnership with LiveRamp, he continued, is simplifying the tech stack for advertising and marketing people, who might not be data scientists or systems integrators. Such users often have to instruct IT support staff to shuttle data sets from martech to adtech via tools like LiveRamp, and then run analytics and reports on top of that.
"From a technology standpoint, this isn't new, but they're packaging it up so it's more integrated, in theory ... and you're not doing as much of the daisy chain of vendor management," Stanhope said. "If you have your data in RedPoint, you should be able to do very granular targeting."
Patrick Tripp
