It is an incredibly exciting time to work in digital media. Traditional buying methods are becoming a thing of the past. Brands and agencies are moving towards automation, fueled by data and technology. The technology is being applied across video, social, mobile, and even television. Programmatic buying is not the future; it is the present.
With any newly established media technology, there comes a slew of questions, concerns… and acronyms: DSP, DMP, RTB, SSP and so on. So it’s understandable that programmatic can seem overwhelming for those not directly working in the media field. That being said, here a few things everyone should know about programmatic buying:
1. Real-time bidding (RTB) does not equal programmatic. RTB is the method used to buy impression-level inventory in an auction-based environment. Programmatic is the technology framework that fuels the buying.
2. Prospecting and re-targeting are the two most recommended programmatic tactics. Prospecting finds users who look like and are likely to fall in to a brand’s core audience. Re-targeting is usually used for direct response, engaging with an audience that has already shown affinity for a brand or product.
3. Programmatic advertising is most successful when a firm goal is established. Take note, planners – setting a KPI is a must. Programmatic buying optimizes and learns off numerous data points. Having firm goals makes the process clean and efficient.
4. Not all Demand Side Platforms (DSPs) are the same. Test multiple platforms to find what works best for your initiative.
5. Programmatic is the ideal place to test creative – this is such an important point. This automated auction-based environment seamlessly lends itself to testing multiple creative variations, as it optimizes to response rates and performance data.
Navigating through the ins and outs of programmatic can seem daunting. And there is much more to talk about. How are mobile and video and social being bought programmatically? Is programmatic TV really a thing? I could go on. This is just volume one. Stay tuned for volume two.