A lot of money, time and energy rides on the advertising campaigns. Campaigns take the brand to the next level in driving a message across; therefore, advertisers leave no stone unturned to rake in the moolah. The Cricket World Cup, Diwali, RakshaBandhan in the 90s was when brands jumped on the bandwagon to create marketing campaigns to sell their products like hot cakes. Today, nothing is different. What has, however, changed for advertisers is the medium of advertising. From a bouquet of hundred-odd satellite channels for advertising to thousands on the internet. From targeting the metropolitan, cosmopolitan crowds to trying to make inroads in the country’s two-tier and three-tier cities. From driving high on emotions to driving high on social relevance. The task for advertisers has become multi-fold difficult. However, it has also presented them with an opportunity to reach out to a massive audience and increase their brand’s visibility. So how do you woo a diverse, fragmented audience in the country and reach a suitable audience base? The answer lies in Programmatic Advertising.
What is Programmatic Advertising?
It is the method of utilizing artificial intelligence and machine learning to reach the right audience base at the right time on digital platforms. In simpler terms, just like the advertising space on the television was determined by TAM (Total Addressable Market) ratings and print by the readership base of a newspaper, advertising space on the world wide web (www) is determined by leveraging the advanced technologies and complex algorithms of Data Management Platforms (DMPs). The data-crunching capabilities of DMPs help advertisers determine the viewers the advertisement should be targeted on a particular platform to deliver a personalized message for a product at the right time.
How to use Programmatic Advertising?
Programmatic advertising, though quite alluring, requires a solid data-backed strategy to implement. Advertisers need to identify their audience, pain points, and frustrations and offer a solution through a data-driven strategy by leveraging the Private Marketplace (PMP) deals and connecting brands to their product’s specific audience on the right platform.
How is Programmatic Advertising beneficial?
Programmatic advertising categorically eliminates inefficient ad impressions and helps advertisers identify the exact audience they want to target, enabling them to channel their ad budgets towards the right audience. This form of advertising is also beneficial because of its detailed analytical reports to measure a campaign, helping advertisers fine-tune their messaging strategy as per the audience bucket to maximize campaign results.
How does Programmatic Advertising work?
To deliver a highly personalized ad targeting a section of the relevant audience, brands utilise a programmatic technique known as Dynamic Creative Optimization (DCO). The DCO is a dynamic technique that works on the principle of real-time preferences of the audience. It changes the creative message of the advertisement as per the audience preferences suggested by the cookies and real-time browsing history.
How to effectively put Programmatic Advertising to use for a campaign?
Step 1 : Defining a strategy for the brand’s short-term and long-term goals is the starting step. Get to know the Private Marketplace. Without having an iota of understanding of the terminology of programmatic advertising, you cannot go too far. Thus, understand the basics, what DSP and SSP are and the difference before venturing ahead.
What is DSP?
DSP is the abbreviation for the demand-side platform. Advertisers use it to buy space on the internet to showcase their brand’s message. DSPs decide which ad to be placed and where to be consumed by users. An example of a DSP is Google Ads. However, it is essential to remember that while Google has access to a large pool of inventory, there are places where they have no reach. A third-party DSP, in this case, is, therefore, more appropriate.
What is SSP?
Supply-side platform (SSP) is a tool that helps advertisers identify the different types of publishers and connect them to the ad exchange. It relays information about the visitors on a page and the ad’s impression of them.
Step 2 : Use the data to create a strong marketing strategy. If the advertisement isn’t half as effective as it should be, the entire purpose of programmatic advertising falls flat. Therefore, carve a message keeping the audience in mind.
Step 3 : While programmatic advertising relies on artificial intelligence and algorithms to create the perfect advertising space, you cannot rely on it to run your campaign. An expert marketer needs to assess the entire plan while buying space for the ads to enjoy the maximum yield it.
Step 4 : One of the major pains of programmatic advertising is its inability to stop ads from appearing on a site that adds no meaning to your brand. Monitoring this requires human intervention. One of the more valuable strategies is to enlist your ad for the whitelist- a list of approved sites to run your ads. Though an expensive way to reach your audience, it narrows down the possibility of your brand being associated with unscrupulous sites.
Step 5 : Don’t be fixated with reach. This could lead you into the pit of programmatic ad fraud that could make you lose money and not reach your intended audience. In addition, programmatic ad frauds make you vulnerable to bots and end up with poor quality or fake traffic on the ads.
How much does Programmatic Advertising Cost?
Programmatic advertising uses the cost per mille (CPM) model, and therefore the price can vary depending on the ad impressions. Price can go high for specific targeting with location, age, income, and audience mapping according to particular characteristics. The prices also depend on industry type, devices targeted, format and placement of the ad on the page.
How to learn Programmatic Advertising?
Dive into the world of the data-driven strategy of marketing by opting for a certified course in programmatic advertising. The Indian Market for programmatic advertising is growing at 70%. Therefore, there is enormous scope to develop as a digital marketing professional. For more information, click here.
