5 ways to reach the right audiences with Programmatic Advertising
1. Specific targeting
Want to reach 20 – 25 year-old males who live and breathe video games, tend to be on the internet between 2am – 6am, and live in Invercargill? With Programmatic Advertising you can do just this. You have the ability to target any market you choose – no matter how niche.
Instead of applying a ‘spray and pray’ approach, Programmatic Advertising allows a user to work out exactly who they want to reach, when they want to reach them and how they’re going to reach them. Instead of publishing your ad to a large, broad network where many of the people won’t see your ad as relevant or interesting, you can ensure that your ads are reaching specific audiences where your messages are more likely to resonate.
Using the marketing intelligence you already have (such as from your API or Google Analytics) is a great way to determine how you will proceed with your ad placements. This data should help identify any already occurring trends and opportunities to take advantage of.
2. Speed and time-saving
Through Programmatic Advertising, an ad can be served up in a matter of milliseconds. Once you have done all the background work in terms of placing your bidding price and setting the specifications on who you want to reach, your ad simply sits in cyberspace waiting for its first bite. When someone makes a search that links in with your ad (e.g. they have Googled prime fishing spots and you sell fishing equipment) your ad will suddenly kick into gear, competing with other ads for a spot on that person’s screen. If your bid is the highest then your ad will be served to them at lightning speed.
Programmatic Advertising proves time-efficient in terms of set-up and how fast it delivers. Instead of booking your media the traditional way (researching, finding a contact, discussing rates, negotiating, scheduling) programmatic puts you in the driver’s seat. You control the budgets and placements with real time bidding (RTB). Once the groundwork is done, the algorithms take it from there.
3. Cross-device targeting
Ever heard of a micro-moment? They are captured when a potential customer makes a decision or has their opinion swayed. Ensure your intent-fuelled, breakthrough moment is waiting around every corner for your customers – whether it’s via mobile, tablet or computer.
By deciphering your target market’s technology-user-habits, you can apply Programmatic Advertising to set your ads up like a well-prepared army – poised at all the right stations and ready to lurch. It also allows for brand/message reinforcement where your target might be exposed to your ads several times over various different devices, keeping your business top-of-mind. A good example of this would be to start promoting a weekend sale on Tuesday or Wednesday to build up interest over a few days.
When implementing Programmatic Advertising, you can determine a budget and then decide how much you are willing to bid. Although this is similar to Google advertising, the major benefit with programmatic is that you are reaching out further than just the Google network. You will also be drawing on other ad exchanges like AppNexus, Microsoft Advertising, OpenX and rightmedia.
Ads are typically sold on a CPM basis (cost per 1,000 impressions). On average, programmatic CPMs range from $5 – $8. When compared to non-programmatic CPM which are closer to the $20 – $30 mark, it’s easy to see what option is the most cost-efficient. It is now possible to take a traditional online advertising budget and stretch it 5 times further with programmatic, which is particularly beneficial for SMEs that have a limited budget to start with.
5. Experts can do it for you
The best part of programmatic? You can get experts to do all the nitty-gritty for you!
Simply set the parameters in terms of who you want to reach and what you want to achieve. From there, experts can bring your strategic Programmatic Advertising plan to fruition. You may already have data and creative that a specialist can draw on, but if not, this is something they may also help you with.
The joy of taking this approach is that you reap the rewards but you don’t need to invest the time and energy needed to learn and implement the system. You can also receive a breakdown of how your ads are performing along with suggestions on how to further improve them.
BallantyneTaylor are experts in the field of Programmatic Advertising and can give your business a helping hand. Get in touch today and find out what you could achieve with them.