4 Reasons For Using Programmatic Advertising
You’ve hopefully already read all about the different types of Programmatic Advertising, and maybe even started to form some sort of opinion on which would work best for you. You might have even read our ebook. So what are the benefits you can expect from using it?
Better Campaign Performance Overall
Whichever way you choose to utilise Programmatic Advertising, it’s likely to have a real tangible benefits to your overall campaign performance, as long as you’re using it the right way. This means knowing your audience, and crucially, knowing where to find them. Doing some analysis on buyer personas will help with this, as you can really visualise your target audience.
Once you have this organised, you should know which markets and inventory will be most useful to you, so you can start purchasing space. The improved results will naturally follow this, as your adverts will be displayed in front of people who you have already identified as being more likely to show interest in your brand. Data-driven targeted advertising like this is proven to be more successful than older digital strategies, so you can expect to see great results as long as you have identified your markets in the right way.
Early in the life of digital advertising, you could only really analyse a campaign once it was finished. You’d send out an ad, with a fixed budget or for a fixed time, and sit patiently awaiting the results, hoping for something positive. Then, you’d take what you learned, and apply it to the next batch of advertisements. One of the benefits of programmatic is that you no longer have to wait.
Now, thanks to the constant streams of data and audience analysis, you can analyse your campaigns in real time, and more importantly, adapt and change them almost instantaneously in order to react to the feedback. Once you start optimising your campaigns as they’re running, or letting a few algorithms do it for you, you’ll notice how even the smaller changes can affect engagement in a big way.
A/B testing is a huge benefit in programmatic and real-time optimisation. It’s really simple to carry out, particularly with Bannerflow, but it can make a massive difference to performance. It helps you analyse two campaigns against each other instantly, to see which is worth investing more in. Even seemingly tiny alterations can benefit any marketing campaign, so make sure you experiment with, and analyse, your display ads.
This goes hand in hand with everything else. As programmatic advertising becomes more advanced, and as you become more adept at analysis, there will be less impressions wasted, and less ad campaigns seen by the wrong audience. With this, you should see your Return on Investment (ROI) improve significantly, and your conversion rates increase. The main wastage issue then will be ad fraud, where your ads are seen by ‘bots’ as opposed to humans, but companies like Google are combating this all the time.
This is potentially the most advanced aspect of programmatic, and when used in the right way, can produce fantastic results. Basically, with contextual campaigns, marketers can control which consumers see which ads, and when. The ultimate goal is to show the exact right ads at the perfect time to the ideal consumer, who will then click through and engage with the brand, or buy the product.
It narrows the potential audience down to people who you, as the marketer, are fairly certain will be interested in your campaign. Although in theory this is relatively straightforward, the technology behind this is spectacular, allowing different ads to be shown to different people based on their interests and browsing history, all in a matter of milliseconds. That’s the real power in programmatic.
There are no real reasons not to be looking into programmatic buying. The benefits are proven, and still only in its infancy. Utilising it in the right way has delivered huge results for some of the biggest corporations in the world, and the best thing is that it’s fully scalable, so anyone can benefit from it. Of course, to reap the rewards, you need to lay the foundations by knowing your audience, but as a wise, knowledgeable marketer, you know them already. Now it’s time to start putting that data to good use.