Offering excellent products and services isn’t enough to guarantee business success. It is essential to market them to the right audience.
Pragmatic media buying enables companies to do just that. This marketing method is one of the most effective ways for a company to get its products and services in front of the users with an interest in and a demand for them. It can help companies to get the largest return on investment and higher revenue from their marketing campaigns.
While some companies use inefficient scattershot marketing methods to generate consumer interest, pragmatic media buying is a more targeted, effective approach to address the companies concerns.
What Is Programmatic Media Buying
Programmatic media buying is targeted marketing that employs an algorithm to identify the media, audience and methods to reach consumers most likely to purchase the products and services a company has to offer. It provides accurate guidance and information about the types of audiences to which companies should aim their advertising efforts. Pragmatic media buying looks at the age, gender, area of residence, income, educational level, social standing and other demographic factors of the ideal consumers to target. It also identifies the right time of day to run the ads.
Employs Special Software
One of the tools programmatic media buying companies employ is special software. This optimizes the impact of marketing campaigns by having automated purchase, placement and frequency of different types of advertising channels. This results in highly effective ads being shown to the right audience at the perfect time.
Having the automation process allows the marketing decisions to be made in real time using the brand’s audience insight. The brand tailors specific, creative messages for their target audience and the software selects the best time, medium and number of times to run them for maximum impact.
Precision And Personalization
Audience marketing and programmatic media buying allows companies to deliver marketing messages and offers with more precision and personalization. This leads to more effective marketing campaign results. Often, traditional and digital advertising attempts to use the sheer volume of people viewing the ads to increase sales. But this untargeted method lacks precision and isn’t as effective as programmatic media buying for generating sales and engendering ongoing lucrative relationships with consumers. Unlike traditional ad buying, programmatic media buying doesn’t lock companies into marketing contracts with publishers for specific numbers of scattershot ads.
More Effective Marketing Campaigns
Proper ad inventory management is essential for effective audience marketing. The best media buyers understand that programmatic real time bidding is an important step if they want to capture the attention of their target market. Once companies have a clear idea of the demographic groups that both want and need their products and services, using targeted audience marketing is the most efficient and effective way to reach them. Programmatic real time bidding for the time slots and media identified as targeted customers prime viewing hours will enhance the results of any company’s marketing campaigns.
Managed Service Campaigns Still Valuable
While programmatic media buying is seen as the most cost-effective way to get the most tangible results from marketing campaigns, managed service campaigns still offer great value. They can eliminate some of the middlemen and help companies maximize each marketing dollar’s buying power. Hands-on management of marketing campaigns can be particularly helpful with emerging small scale cutting-edge ad formats for which best practices are still being developed. Plus, some premium publishers keep a portion of their best marketing slots for managed buys in order to maintain lucrative long-term relationships.
Media Sales Rep’s Complex Role
While the programmatic market for advertising has grown from 28% in 2013 to over 80% today, media sales representatives continue to have a vital role. Their role is complex, complicated and nuanced.
They must understand the needs and capabilities of each client, pick up on unspoken cues about their corporate culture and goals and be well-versed in managed service as well as programmatic market’s essential elements to provide their clients with the proper guidance for their marketing campaigns. They must know how to leverage social media outsourcing, ad inventory management, campaign branding and more to best benefit their clients.
The Essential Human Touch
Although programmatic platforms with their algorithms, access to and consideration of infinite possibilities and programmatic real time bidding are on the rise, the best media buyers still value the human touch. Campaign branding, audience analysis, social media outsourcing and even alternative advertising are all about connecting and resonating with people. And humans still bring unique insights and subtleties to the task robots haven’t yet mastered. The importance and relevance of the marketing sales rep may have diminished, but the human touch is still essential.
Real Time Bidding For Ad Placement
One area in which programmatic media buying companies have a distinct advantage over human media sales representatives is in real time bidding for ad placement on digital platforms. These transactions take place in milliseconds.
As websites with advertising space is loading, user information moves through the ad exchange and the ad space is instantly sold to the highest bidder. The winning ad then appears on the auctioned space on the webpage. The process is too fast to allow for human input. It’s an arena in which only programmatic ad inventory management systems can provide companies with the service they need.
Managed Service And Self Service
Two options for running programmatic advertising campaigns which companies have are self service and managed service. While both types services enable companies to run very effective targeted marketing campaigns, each method offers unique benefits for getting the most out of digital marketing campaigns on programmatic platforms. The decision on which method to use comes down to which benefits companies think are most important. For the people in charge of brand marketing, getting the most out of their digital advertising campaigns and programmatic market is paramount to a company’s success and helps to decide whether they use managed or self service.
Transparency And Control
Companies for which transparency in terms of direct access to all elements of their marketing campaigns and their ability to track them in real time and control all changes made to those campaigns is paramount, in-house self service digital marketing is the better choice. That includes campaign branding, alternative advertising and social media outsourcing. This enables them to make real time budget and bid adjustments, targeting and site list optimizations, creative changes and ad group adjustments in-house to save time and reduce cost.
Professional Media Strategists
Companies without the time, resources or expertise to handle purchasing programmatic advertising will be better off having a managed service use a fully-managed platform handled by experienced media strategists. They can upload all the data, regularly optimize the system and send the company regular reports. These are often the best media buyers because all of their activities are based on solid science, accurate algorithms and the latest demographic information. The only issue some companies have with using a managed service is the potentially high cost.
The Future Of Advertising
Programmatic marketing enables companies to more efficiently target their advertising. It eliminates efficiencies, improves accuracy, proper context, timely placement of ads and real time digital ad space bidding. Using computers and algorithms optimizes marketing activities like handling insertion orders, tagging requests and many other mundane tasks. This has resulted in the steady uptick in use of programmatic media buying because it automatically takes into consideration variables like audience segment profiles and price. Many marketing experts believe that while managed service continues to retain some value, programmatic media buying is the future of advertising.