Advertising Industry is firmly on a path towards ‘automation’. One can discern this from the rising trend of ‘programmatic buying’ among brands and advertisers.
‘Automation’ has been the keyword in the advertising industry for a while now and we are not just talking about automation of ads scheduling. Given that advertisers can purchase digital ad space without speaking to a single human being, it makes the whole process very efficient for the brands, as they can bypass RFP driven manual buying process and endless negotiations.
And that’s not the only takeaway. Programmatic advertising helps brands to make the most of ‘micro-moments’. Now what are these ‘micro-moments’? These are intent-rich moments when your target audience makes snap decisions! What’s unpredictable about this is that these moments can happen almost anywhere and anytime. For marketers, the challenge had always been to funnel through myriad websites, apps to reach the right audience at the right moment.
Understanding the consumer intent is very crucial while buying inventory. By organizing the consumer’s preferences, stores visited, videos watched and blogs read, it is easy to get the complete view of the target audience’s preference. It makes more sense for the brands to opt for platforms that enable programmatic advertising, as they don’t have to invest millions of dollars in advertising for the wrong audience.
Advantages of Programmatic Buying
For years, with no central system in place most brands had to depend on the screen shots and excel sheets painstakingly drafted by publishers to see where their ads have appeared and their subsequent performance. Transparency is a big advantage that programmatic buying offers wherein the advertiser not only knows where the ad is appearing but can also measure the impact of their ad immediately, take stock, respond and tweak their campaigns for maximum impact in real time. With inbuilt analytical dashboards, media buys can be changed in real time and campaign optimization carried out within the span of few minutes, as against the traditional form of media buying.
Commenting about the advantage of Programmatic buying Kartic Srinivasan, the Executive Vice President of 2adpro said, “As brands continue to increase focus on the quality of the audience, programmatic is a great way to test a segment and quickly change course and creative. This will be a critical factor to deliver effective RoI and build a following. No more the need to decide on a yearly budget first!”
The way forward
Programmatic buying changed the odds of the game significantly. Brands that implemented programmatic buying, found their right audience at the right moment resulting in a very fruitful ROI. Yet another advantage is that it saves a lot of money for the brands and advertisers, as the automation helps them to reach their target audience without having to spend millions of dollars on an ad space that does not deliver.
With media spend becoming more targeted the need to choose the right programmatic provider has become vital. So the next logical question would be who would be the right programmatic provider?
Companies that facilitates secure premium deals without sacrificing quality or scale and helps the publishers to make smart inventory decisions will eventually win the game here. Right from providing flexibility in audience discovery to real-time insights, programmatic companies that leverages on intent-rich micro-moments for their clients will prove to be valuable for brands and advertisers in the long run.
Time is of essence in programmatic advertising and solution providers who can change content to match the trends in the Internet within a critical window of time would be eventual winners of this game. And those companies that use a creative development platform along with programmatic advertising will be future of this industry.
Creative content development along with creative management platforms such as JDX (A proprietary cloud-based marketing automation technology platform of 2adpro) can help brands and advertisers adopt programmatic buying, creative development, analytics and optimization in real time. We believe that it is in these types of solutions that Advertisers will see great RoI for their creative budgets.