Shafqat M. is the professional content writer who has been helming digital marketing projects for the last 5 years.
Is Programmatic Advertising Compatible with Changing Digital Advertising Landscape?
Chances are you might have heard of but not figured out yet what is programmatic advertising and how a business can leverage it to further its advertising goals in the fast transforming digital landscape.
In its expansive 54-page study on digital advertising, AppNexus made a startling revelation that programmatic advertising accounted for 80 per cent of total digital display marketing in the United States alone.
Few Stats from Programmatic Ad Spending
If we go by programmatic ad spending figures put forth by Statista, programmatic advertising in the U.S. for the year 2019 was worth a staggering $106 billion and is expected to reach $127 billion by the end of 2020.
For such huge spending on programmatic display campaigns to happen, marketers must have a reason for flocking to programmatic advertising in great numbers!
So, what exactly is programmatic advertising, let's try to find out.
Programmatic advertising accounts for 80 per cent of total digital display marketing in the United States.
What is Programmatic Advertising?
Here's a brief introduction to programmatic advertising meaning, if you're new to it!
In simpler terms, programmatic advertising stands for automated purchase and optimization of digital campaigns, where you don't have to buy directly from publishers.
Its advent and subsequent rise as the most efficient advertising platform has led to a concomitant decrease in reliance on human negotiations and has got it replaced with artificial intelligence and machine learning.
Programmatic advertising in the U.S. for the year 2019 was worth $106 billion and is expected to reach $127 billion by the end of 2020.
Key Benefits of Programmatic Advertising
No doubt it has brought efficiency and transparency to the advertising industry and benefits both advertisers and publishers equally. Also, the auction is real-time and you pay for an ad only when a visitor loads a website.
Programmatic advertising has paved the way for businesses to do away with traditional, expensive, complicated, manual hit-or-miss advertising.
By leveraging algorithm-driven advertising you can cut expenditure significantly, at the same time reach more and more people quickly and efficiently.
1. Acquaint yourself with Programmatic Advertising
Simple things first, start from the basics. How to do it? Well, it's simple - just know programmatic advertising from up close. Know the platform and the rest will follow.
To venture into a completely new, tech-savvy field of advertising is bound to catch you off guard if you don't get acquainted with its terms, ideas, algorithm, so give enough time to learning its basics.
2. Set your Advertising Goals
Even before launching a programmatic ad campaign, define your advertising goals or in other words, your possible expectation from the campaign.
Haul a detailed strategy out of existing data to render your campaign efficient and realistic, also taking into consideration long-and-short term goals of your programmatic advertising.
3. Don't Overlook Human Touch
That programmatic advertising is driven by algorithms and AI, many businesses fall into the trap of ignoring human touch completely.
Not only are some programmatic advertising platforms semi-automatic, even if it is fully automatic, but the need to feed information into your programmatic ad campaign is also still relevant and indispensable to the success and efficiency of programmatic advertising.
Shortest to say, for planning and optimizing your advertisement buying process and subsequent campaign launch skilled manpower is imperative.
4. Safeguard your Brand Image
I know it sounds strange - protect brand image! - but when put in context it emerges as an integral part of programmatic advertising.
That's, occasionally in absence of human scrutiny and complete dependency on an algorithm, programmatic ads appear in places not befitting a brand.
How to prevent it is simple; keep updating and monitoring the list of blacklisted inappropriate sites.
5. Keep an Eye on Bot Fraud
Malicious and fraudulent activities like bot fraud, though minimum in programmatic advertising (16%) compared to other display ads, persist and the need is to keep an eye on bot fraud.
1. Ad Strategy
A good strategy incites you to learn more about your customers or target audience so that you can create better ads that resonate with them.
You can pick the audience based on gender, hobbies, relationship status, or even based on zip code. Facebook Ads allows companies to reach more users by sharing their products and services advertisements.
The brands can directly communicate and interact with users. Personalized customer experience is also provided by Facebook Ads, hence resulting in higher conversion and response rates.
Sometimes you have creative marketers, developers in your team, and also a hefty budget to back it up, but ROI still doesn't pick up. Ever wondered where did you go wrong? Has it got anything to do with your target audience?
The answer is, if you are not targeting the right audience, even the most creative and expensive advertisements might not even grab the attention of your audience, let alone yielding any results.
Re-target those visitors who tour your website but convert not into customers. Add new videos, blogs, and visuals so the customers won't see the stale, and monotonous content again.
3. A/B Test
Are you looking for ways to determine the best ad strategy for your brand? The ideal way to identify the best-performing ads or creative messages is to run a Facebook A/B test.
To test everything is not feasible, therefore, it's better that you decide which elements of your ad can influence your target audience the most and test those elements instead.
If tests show great results, you can your strategy and budget around high performing elements of campaigns, and get higher CTR or click-through rate and conversion rate.
This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.
© 2020 Shafqat M