Programmatic Advertising: Crucial Concepts & Strategies to Leverage ROI
eCommerce marketers are ready to invest a lot in marketing solutions. Technology-driven marketing strategies have helped eCommerce to grab unlimited traction to meet consumer demands and market requirements. The era of programmatic advertising is onboard. So vendors, now hark your ears! Groundbreaking innovations are going to shift the horizon of eCommerce advertising soon!
Though some marketing professionals consider programmatic advertising a difficult topic to put your head into, the possibilities in programmatic advertising can't be ignored. You can no longer hive-off programmatic strategies tagging it as exponential and jargon-filled. This is the time to unlock the possibilities and optimize your eCommerce store towards the big leap.
What is Programmatic Advertising?
Advertising platforms are touchpoints that help every marketer to connect with consumers. But to hook with target customers, you really need a better platform that can help you analyze consumer behavior, location, browsing history, and a lot about their shopping manners without breaking the cookie-less internet policy.
Placing your advertisement on the most engaging platform and getting traffic can be a daunting task. Continuous negotiation with publishers, manual data insertion, and sending proposals in traditional advertising platforms consume time and money. Unlike traditional marketing, programmatic advertising is all about automatic buying and selling of online advertisements through computerized ad exchanges, connecting advertisers and publishers. Programmatic advertising platforms help advertisers reach up to prospective buyers who can be filtered through the sales funnel.
Well, automation and AI are not new elements in business today. But, AI-enabled automation in advertising is going to be a new path full of opportunities. Programmatic strategies help you eliminate human error, inefficiency and increase productivity within a short time frame. It includes real-time auctions where ads are bought using digital software.
Once your ads are bought by a programmatic advertising platform, it analyzes user persona (gender, age, device preferred, etc.) to deliver your ads to the right customer at the right time. For example, if a person searches for a night suit, the platform identifies the user and later on, displays interest-specific and device-specific ads based on their searches to the customer. This is how programmatic advertising works for you.
Types of Programmatic Ads
Often, there is a tendency to associate programmatic ads with real-time bidding. Real-time bidding is just one kind of programmatic advertising strategy. Depending upon the goal, market, and requirements, programmatic strategies can change. Here are some of the programmatic ad strategies that are widely discussed:
Benefits of Programmatic Advertising
A programmatic advertising platform is a threshold to increase conversion prospects. If rightly utilized, it has the potential to regulate and improve brand performance and awareness. Here are some advantages of the programmatic advertising you must know to kickstart the digital campaign:
1. Wide Reach & Access to Networks & Devices
Reaching out to the mass audience is integral to marketers to improve ROI. Unlike traditional marketing with manual insertions and negotiations, programmatic advertising helps target customers by utilizing user analytics. This helps to confirm the availability of the advertisement across multiple channels and devices, at a comparatively lower cost.
2. Helps to Design Targeted Digital Campaign
Extensive algorithms and user data help to make the ad placement user-specific. It is not just about increasing the reach. But, customizing the ad according to the interest and requirements of customers is necessary to bring conversion. In programmatic advertising, customers are segmented into different groups according to their online behavior and shopping journey to provide them with filtered results.
3. Marketing Beyond CTR
CTR cannot be considered a key performance indicator. Every click you get cannot be counted as a conversion. Shifting your ad strategy from a wider audience to a more specific and convertible audience is the need. Ads focused beyond CTR helps to save money and improve the total ROI.
4. Enhanced Transparency
Real-time access to data is a crucial factor that enhances transparency in activities. In traditional ad format, it was difficult for advertisers to analyze how ads were performing and where it was being placed. But, programmatic advertising is much more transparent. It gives publishers increased insights into user data and advertisers a better platform to measure ROI through real-time impression and reporting.
5. Brand Value & Enhanced Relevancy
Customization is vital to stay relevant and improve your brand identity. Advertisements create a first impression in users' minds. Frequent appearance is necessary to improve brand awareness among users. AI and automation-enabled programmatic advertisements build digital campaigns that utilize customer insights to deliver meaningful ad content to the target customers.
Strategies to Optimize Programmatic Campaigns
Getting your hands on a few digital hacks can help you pull out a win-win strategy to optimize your programmatic campaign. Let's flip through some stellar campaign strategies to leverage leads and traffic:
1. Decide on KPI and Focus Audience
No digital strategy is going to get you success unless you define your goals and target audience. Running a random campaign increases marketing expenses without boosting ROI. So, analyze your marketing strategy and identify the gap. Proper research is needed to find the key performance indicator for your business.
Also, make sure your ad seems insightful to the customers. Targeting the right customers through segmentation is necessary to find a specific audience.
2. Explore the Possibilities in Geo-targeting
High-quality and relevant data sets are necessary to target customers. Geo-targeting brings in location-based results that help advertisers to build local and hyperlocal ads. Moreover, compliance with GDPR and CCPA helps to ensure the data security and privacy of users.
3. Make Use of Ad Server & Demand Supply Platform
Ad servers and Demand Supply Platform (DSP) help marketers to channelize the whole ad account through a single interface. It helps to control and regulate the ad performance by maximizing the impact. Further, DSP also helps in better ad tracking, enhancing bidding algorithms, and boosting retargeting-ad performance.
4. Refresh your Creatives every 14-90 Days
Ad fatigue is a major issue in advertising. The customer easily gets bored with seeing the same image over and over again. Customer behavior and trends are changing day by day. What your customers found trendy two weeks before may not be trending anymore. It could change at any time. So, refreshing the ads frequently helps you stay relevant in the market.
5. Test Different Platforms instead of Sticking to One
Understanding social media algorithms and other ad platforms are also necessary to leverage your campaign. Customers prefer different networking sites and devices as per their comforts and interests. You cannot find all your target customers on Facebook itself. Some may be scattered on Instagram and some others on Twitter. So, explore and experiment on various advertising platforms to improve visibility and grab measurable ROI.
Learn the Hacks to Lead the Race
Programmatic advertising is not that problematic as it sounds. In fact, it breaks down the complexities in human negotiation and manual delays. Frequently shifting our marketing perceptions and strategies according to the changing consumer behavior is crucial to stay relevant in the market.
Automated data integrity and advertising enable marketers to carve a niche in digital spaces where customers are scattered. The next level of marketing is all set to give you automated ad auction space to leverage your brand value. Get ready to wrap your head into programmatic buying strategies. eComIntegrate is all set to help you identify and strategize the right digital campaign for you.
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