Programmatic advertising is a streamlined and effective approach to Digital Advertising. It makes it feasible for the advertisers to target the intended audience more easily and tap into the benefits of omnichannel marketing, thus helping them to showcase their brand more efficiently amidst the ever-growing competition in the digital space. Let’s learn the key facts about programmatic advertising and why it has emerged as a favorite among online advertisers.
The basics of programmatic advertising
Traditionally, purchasing any digital space for displaying ads requires a considerable amount of manual effort, which makes the process quite difficult. Programmatic advertising changes all of that. In this form of advertising, the process of selling and purchasing digital ad space has become automated, carried out with the help of software.
Earlier this process took a great deal of time, with programming advertising it has become a lot quicker and simpler. Through the power of data and various targeting options, advertisers can ensure that their ads are getting displayed to the relevant audience. Programming advertising can be leveraged for a variety of digital mediums, including native ads, display ads, audio ads, video ads, and even digital outdoor advertising.
Programmatic advertising are of 4 types, Real-time bidding, Preferred deals, Private marketplace, and Programmatic guaranteed.
In Real-time bidding, an open and real-time auction takes place in which advertisers can place a bid for any ad space. This type of programmatic advertising enjoys great popularity. However, the main issue here is that advertisers can’t have information regarding where exactly their ads will be shown.
In Preferred deals, if advertisers want, they can select and pay a fixed price for advertisement spaces, before these ad spaces enter RTB auctions or private marketplace. Varying aspects such as Pricing and Targeting are discussed during negotiations between Publisher and Advertiser. Advertisers aren’t under any obligation to buy ad spaces from the publisher; they simply have the opportunity to see what’s available and then decide whether it’s right for them.
In a Private marketplace, only the advertisers that have received an invitation from the publisher can participate in the auction process for the publisher’s premium and coveted ad places. It’s common for publisher websites with substantial popularity to utilize this type of programmatic advertising. Because these publishers are so popular, their ad spaces would naturally be in great demand among the advertisers.
Finally, we come to the last type of Programmatic advertising, which is programmatic guaranteed. The process in this type is a bit conventional. No bidding takes place here, instead the publisher and the advertiser have a one-on-one discussion and negotiation with each other about selling/buying the ad space. Advertisers with sufficiently big budgets may like to opt for this option to leverage a good degree of control. Whether it’s the frequency of displaying the ads or the advertisement cost, advertisers can make decisions regarding such crucial aspects.
What makes programmatic advertising so important in today’s advertising world?
- Target your audience with greater accuracy and efficiency
With digital advertising, the right targeting methods make all the difference. If your digital ads aren’t being viewed by the right audience, you can say goodbye to all your money and efforts devoted to advertising, as they go down the drain! Programmatic advertising empowers the advertisers with improved targeting capabilities, which help to display ads to the right audience at the right time.
The types of targeting options available are plenty, like geolocation targeting, audience targeting, IP targeting, contextual targeting, retargeting, etc. Therefore, one of the biggest benefits that programmatic advertising offers is the ability to find and reach the relevant audience for your brand much more effectively.
- Measure how successful you are quick with real-time data
No need to wait for a long time before you can see and evaluate the results of your advertising efforts. In programmatic advertising, you get extensive real-time data regarding how well your ad campaigns are doing. What this data provides you is the important opportunity to recognize and implement the necessary changes that can make your campaigns more successful. You can make small to big changes in your campaigns, and you can very quickly see how efficacious those changes are proving to be. Thus, you can consistently analyze and refine your campaigns.
- Makes life easier for everyone courtesy of automation
The element of automation in programmatic advertising is immensely helpful for advertisers. No more spending a huge amount of time and effort or going through any middleman to purchase spaces for your digital ads, you can just let algorithms and software handle all of this for you. You are free to dedicate your time and effort to a more critical area, your ad campaign optimization. Automation not just quickens the process of placing digital ads, it also improves the accuracy of the process. Thus, you’re able to promote your brand in a fast and right way, maximizing the potential of your advertising efforts.
- Helps you get the most out of your investments
You gain nothing out of displaying your digital ads to the wrong audience. Moreover, the wrong leads clicking on your ads would only mean inefficient use of your advertising budget, since such leads aren’t very likely to convert into customers. But, because programmatic advertising offers quite an exact targeting, you can rest assured knowing that your ads would reach the right people, meaning the clicks that you’d get would have a chance of evolving into a positive outcome. Therefore, you’ll be making the most of your investments in digital brand advertising.
Programmatic advertising is a great tool that modern advertisers have at their disposal for carrying out their advertising endeavors in a very productive way. This type of advertising has already become quite popular among advertisers. You must start thinking about the best way to implement programmatic advertising for your brand. If you need help with the same, we at InstaVix are here to assist and guide you. Together, let’s figure out how we can launch the best programmatic advertising campaign for your brand.