Programmatic Advertising spending worldwide reached a record high of USD 129.1 billion in 2020.
Automating the buying and selling of digital ad space and media has caught the fancy of all types of businesses. This ranges from a small nonprofit offering pet adoption services to global giants like Unilever and Kellog’s. Startups can too up their digital advertising game.
Here are five valuable advantages you are likely to miss out on if you do not add programmatic advertising to your marketing mix.
Feel the Power of Unboxing The Black Box
Think of advertising as the final dish(es) of a menu that you have curated as a chef. Based on the reviews of your patrons, you add or remove dishes, tweak ingredients, or even change themes if required.
Will you be able to do that unless you know what goes into each dish?
Similarly, to measure the success of a campaign, you will need to have a nuanced picture of the traffic it has generated. You must also know the impressions it has received, the internal setup of the campaign, devices the ads were viewed on and when, among other data points.
Currently, programmatic advertising delivers these insights and more. It gives you a holistic view of what is happening behind the scenes.
Pause, Modify, Play … And Deliver!
You have set the menu. And, even though you can monitor what goes into bringing it to life, what if you cannot make any changes?
That would be frustrating.
Programmatic advertising (especially in-house) allows for real-time optimization of campaigns. It provides instant feedback on the ads you have run. Thus, it allows you to tweak or pause campaigns, make adjustments, and address roadblocks. Naturally, you no longer have to wait for the campaign to end to do all of this.
Innovate with the Landscape
Programmatic advertising is the playground for all the innovations in adtech, martech, and deeptech (AI/ML).
Naturally, businesses are experimenting with devices such as wearables. Also, they are experimenting with data points like location and mediums like podcasts.
Your best bet would be to throw yourself in the vortex of these changes. But, you must also innovate to ride on these trends. And, it is unlikely that you will be able to achieve that without a strong programmatic ecosystem.
Also, buying strategies play an important role in delivering ROAS. From Private MarketPlace deals to Guaranteed, you can purchase inventories from desired publishers which best suit your needs.
Multiple Channels, Multiple Returns
In addition, the evolution of advertising in general has allowed us to reach multiple channels. Simultaneously, programmatic advertising enhances this by incorporating a reach of digital touch points.
So, you can build context through one channel, highlight features on another, and direct the users to a landing page on all of them. Naturally, this boosts the efficacy of your ads. Also, it helps you cast a wider net. Of course, programmatic also brings multiple ad formats at your disposal. Now, deliver impactful messages through traditional creative formats like Banner, Video, Native. Or, make use of the emerging ones – CTV, OTT and target customers at various points in the customer journey.
Optimize, Optimize, Optimize
Now, you would think that all the above advantages are going to be a financial burden for your startup.
What if we tell you that because of precisely these reasons, your ad spend budget can be trimmed down?
Due to the insight, innovation, and optimization it generates, programmatic advertising has become a cost-efficient option. Now, your budget is concentrated towards segments and processes that you know will work. And, you can divert the ad budget from campaign elements that don’t deliver ROAS.
A Bounty Of Benefits
Naturally, programmatic enables startups to make data-driven decisions from the get go in their advertising strategy.
In a real time bidding environment, advertisers also get more choice – which user, in what context, and at what value should their advertising go at.
So, one of the most powerful outcomes of programmatic is that it enables advertisers to consolidate brick and mortar (in-store) and digital (online) sales data and decisions.
I am convinced. Now what?
If you believe in effective advertising that can transform your business and deliver high returns, reach out to us for a consultation. ReBid can help build the ultimate programmatic advertising blueprint that is harmonious with your business goals.