Programmatic media buying is the future of digital advertising
Programmatic media buying technology refers to the automated process of buying ad space in the digital media, by the real-time bidding process.
What is programmatic media buying?
Programmatic media buying technology refers to the automated process of buying ad space in the digital media, by the real-time bidding process.
Cutting edge technology that can be automated for efficient results invariably translates into big gains and programmatic media buying is one such domain where businesses stand to gain and save largely on the back of a simple shift in media buying strategy.
Programmatic media buying essentially means buying digital media via a very efficient real-time bidding process. The immediate takeaways include speed, performance and the entire process being more cost effective.
Programmatic Vs Traditional media buying:
Traditionally, media buying is carried out manually. Often, this would lead to an opaque process where networks could purchase impressions in advance from a myriad number of websites and apps. Additionally, there is a lot of paperwork involved for digital media trading like a request for proposals, sales pitches etc. leaving a lot of room for errors or overpayments.
By adopting programmatic digital media buying, an advertiser is empowered in terms of being able to strategically manage the media buying and advertising campaigns. The advertiser is also able to manage campaigns via dashboards customized to their needs and paying money for each independent impression.
Earlier media inventory was bought and sold manually using the traditional methods. But, it is an expensive and tedious process, sometimes even leading to human error. But, in the last, some years ‘Programmatic media buying’ has emerged as a driving force behind the spectacular advertising campaigns. The new approach is more effective, efficient and less expensive.
What are the benefits of Programmatic media buying?
1.Increased Digital transparency
Marketers and advertisers can now target the ‘right’ audience with the help of programmatic technology in an increased transparent manner. Unlike, previous days of unreliable information and dependency on several sources, advertisers can now view the sites their advertisements are reaching, also they are able to target the audience fit for their product or service.
2. Real-time reporting & data measurement
Gone are the days of finding billboards deemed fit to target customers. Programmatic media buying helps measure how a campaign is performing real-time by analyzing data. From the outset, it has been iterated that the crux of automated technology lies in increased efficiency and that is precisely one of the biggest gains in programmatic media buying. The gains include the potential to work on low budgets and benefit more, increased returns on investments (ROI) which was extremely difficult to match in conventional buying.
3. Key to Sale
Digital advertising is highly dynamic and greatly impact its audience. Here, an efficient campaign allows the advertisers, marketers to optimize their reach and plan their budget in an effective manner.
4.Time management:
Time is of the essence is digital advertising and in conventional buying, you don’t have the option for any tweaks or corrections once a purchase has been made. On the other hand, if a marketer uses programmatic buying, there is an amazing benefit as they can make real time changes taking cues from impressions, as well as analytics data. Once you identify which ad is working, you can focus on it for maximum gains.
5.Reach the target audience:
Targeting is one of the core features of programmatic media buying. A marketer can employ various criterions for targeting simultaneously and at a lower cost too. The result is that they can now successfully target the ‘right’ audience for their campaign. Modern day advertising and marketing have data analytics deeply embedded in it and programmatic buying comes handy with big data and for working with demographics, focus and interest groups as well as the existing audience.
Conclusion
Programmatic media buying is the future for advertisers and marketers. Increased convenience, cost-effectiveness, and efficiency are some of the core values that make any ad campaign thrive. Marketers can embrace this new opportunity and empower themselves to interact and engage with target audiences in a whole new way that wasn’t possible till some years ago. The power to effectively assess and measure an ad campaign, its performance not only helps in converting customers and promoters, but it also helps in understanding your audience more through targeting and retargeting. It not only opens new avenues for business, but it also creates a conducive environment that allows you to easily reach your target audience.
