By Sthitaprajnya Panigrahi
One of the automated process of buying digital media, often through a process called real-time bidding, Programmatic Advertising is one of the futuristic trends of marketing with numerous unique features such as being faster, more efficient, and less expensive. As advertisers now have gained a more granular look into their advertising campaigns by investing into more technology-oriented marketing trends, programmatic advertising is gaining wide recognition by avoiding human error and ensuring transparency.
With many agencies and brands switching from the traditional to programmatic buying of digital media, few benefits of implementing programmatic advertising as a new-age marketing strategy is mentioned below.
1. Enhanced Transparency & Control
Programmatic advertising technology ensures a gamut of transparency that marketers and advertisers are often deprived from traditional advertising. Through programmatic advertising, advertisers can know precisely what sites their advertisements are reaching, the number of customers looking at their ad, and any extra costs associated with the advertisement in the real time. By considering all these factors, making optimizations and quick changes can be done in a much more efficient and educated way by the marketers and advertisers to ensure optimum customer engagement.
2. Real-Time Measurement
Real-time reporting and data measurement is necessary for every marketer and advertiser as it gives them an insight about their campaign. Programmatic advertising ensures the aptitude to envisage exactly how the creativity of the ad is impacting the target audience and is performing since the campaign is launched. Although making any changes for a week or so after the launching of campaign is not recommended, but unlike traditional advertising methods such as billboards and print advertisements, programmatic advertising doesn’t make the marketers to wait until the end of the campaign to get results.
Real-time measurement enables the advertisers with the ability of not only tracking their campaign but also to make necessary adjustments and optimizations as needed.
3. Higher Efficiency
With the ability to measure how a specific advertising is running throughout that entire campaign, the overall effectiveness of digital advertising has also significantly improved. As mentioned earlier, Real-time measurement enables the advertisers with the ability of not only tracking their campaign but also to make necessary adjustments and optimizations as needed. Appropriate optimizing has proven to be highly effective at the current scenario as it ensures that each campaign is running with full efficiency and reaching the ideal target customers, meanwhile using the budget effectually.
4. Better Targeting Abilities
With the increased flexibility of programmatic technology, advertisers can unswervingly reach their ideal costumers for their desired goal. Some examples of this targeting techniques include IP targeting which means zoning in on a specific IP address—typically used for targeting a specific business or event, geolocation targeting comprising of east/west coast, state, city, zip code, and more, contextual keyword, and so on. Retargeting is also important and is one of the widely-used techniques here. Primarily, only two percent of customers convert on their first visit to a website. With the implementation of retargeting, marketers and advertisers are not only capable of reaching out to the other 98 percent of their ideal consumers but meanwhile can also encourage them to convert.
5. Increased Audience Engagement
The last but major benefit of programmatic advertising is its potential to ensure optimum audience engagement. With billions of people staying online over the internet on average, it’s a potential reach of millions of people depending on targeting parameters. Although it’s always best and preferrable to narrow that down to those ideal consumers who are interested but nevertheless, the potential reach is not only remarkable but instantaneously trackable. As soon as a display advertisement is seen by a customer, advertisers can know the accurate count of impressions that were served.