While programmatic advertising is stretching the realms of marketing today, there are many businesses yet to catch up with the technology.
Here’s programmatic advertising in simple terms:
“Programmatic” is synonymous with automated. That makes programmatic advertising a solution that automates advertising functions, from the initial task of ad buying to results tracking. The technology might be prevalent in digital but has equal benefits for traditional media as well.
To know some interesting facts about programmatic advertising, read: “Go Mobile to Keep Up with the Fast-Changing World of Advertising”
Technology that handles advertising – totally automated, scalable, and efficient eMarketer has found that 55% of all digital display ads will be bought programmatically in 2015 in the US. The activity will be worth nearly $15 billion!
Automation alone can minimize efforts, eliminate errors, and mitigate risks in advertising. The efficiency aspect has witnessed remarkable improvement with the adoption of programmatic advertising. The technology is flexible to adapt to the needs of consumers. At the same time, it is equipped to scale at a high speed.
Automated sales processes, target-identifying algorithms, campaign management, integration with third-party services, real-time analytics, and batch reporting have made programmatic advertising a highly efficient ad-ops technology. In a nutshell, programmatic advertising is a cost and time-effective solution.
Real-time bidding (RTB) makes programmatic advertising & ad buying more competitive
Adweek recently published that by 2016, programmatic direct will be worth $8.57 billion compared to $11.84 billion for real-time bidding.
Programmatic ad buying has increased transparency in ad buying. Advertisers can view inventories and have the liberty to choose ad spaces as per their needs. Buyers take part in real-time auctions and get access to quality spaces irrespective of their sizes. Buyers can focus on targeted impressions while transparency in pricing is maintained throughout the process, unlike in traditional ad buying.
Advertisers and sellers have direct interactions and RTB eliminates the scope of tightfisted negotiations. The solution provides greater power to advertisers in campaign performance, and at later stages, enables them to streamline their ad spending.
Know your consumers and act – time to optimize big data the bigger way
A recent Forbes report states that about 65% of marketers are using 40% of their ad spends on programmatic advertising with a high dependency on data and a quarter of the marketers are in fact allocating almost 80% of their ad spend on this .
With the entry of programmatic advertising, the scope of targeted campaigns has broadened immensely. Advertisers can draw consumer-related and creative insights to create the best possible campaigns.
Tracking the diverse attributes of consumers and real-time feeds helps increase clicks and conversions. Programmatic advertising enables automated and multiple tests to identify the best creative. It provides solutions to complex questions like, “Which creative is suitable for which segment?”
Identifying the ideal prospect group and creating tailored ads become possible through automation technology. Programmatic advertising doesn’t just produce big data on a large scale, but puts it to optimum use . The solution has enhanced reach to audiences like never before.
Handle any digital space and screen, anywhere, anytime!
Programmatic Advertising enables you to manage digital ads across platforms.
Reaching consumers at their preferred interfaces fuels higher returns. Be it customers browsing the web through PCs or laptops, using an app on smart-phones and tablets, or watching TV, you can track their buying journey and influence their decision-making extensively.
At a time when cost, time, efficiency, and transparency are the looming concerns, programmatic advertising is paving inroads to better marketing. The integration of data and technology was a pleasing development for the digital world and with programmatic advertising; the next stage is already here!
