With programmatic advertising, brands can maximise the performance of any campaign. But getting it right requires some basic knowledge. These three tips show how start-ups can get the maximum impact out of programmatic advertising.
Programmatic advertising describes the fully automated, individualised purchase and sale of advertising space. The technology empowers brands that do not want to leave the success of their campaign to fate, allowing them to control how, by whom and where their ads are encountered. Not only for young companies, establishing a distinctive image of itself and their products is important to be successful in competitive markets. Whether on- or offline, programmatic advertising allows brands to reach their audience with a measurable impact.
Here are three tips for start-ups new to programmatic advertising:
1. Build Up Expertise In-House And Work With Trustworthy Partners
Programmatic advertising is a technology that is highly data-driven and always uses state-of-the-art tools to achieve peak-performance. It is an extremely complex topic, therefore all the more important for brands to really understand how programmatic advertising works.
Companies that are just starting out might consider hiring an expert in programmatic to join their own marketing team. There is also a variety of workshops that can educate marketing teams further and empower them with expertise in programmatic technology. When taking the first steps in programmatic it is recommended that companies hire a professional media agency so that they can benefit from their expert knowledge of tools and state-of-the-art technologies. One thing that is vital when working with partners is transparency – not only in AdTech but in any kind of professional partnership. Whether it is the choice of tools to measure the success of a campaign, the composition of fees, methods of driving the campaign or simply day-to-day communication: transparency is the basis of a successful advertising partnership. How do you achieve such transparent cooperation? Do not just ask for it – insist on it!
2. Know Your Audience
For businesses that are just starting out it is especially crucial to build and maintain a positive image in the eyes of would-be customers. But to build this image, firms have to know as much as they can about their consumers to make sure they’re communicating with them in the right way. Put into a ‘programmatic’ context: companies have to reach their target groups via the right channel at the right time with the right product in the right advertising format.
Often start-ups struggle to gather the amount of data that is required to do this. They could consider enhancing their own (first-party) data with third-party data from trustworthy partners such as Data Management Platforms (DMP).
3. Develop A Cross-Channel Storyline With An Appealing Message Instead of Advertising in Superabundance
Advertisers need to invest enough time in developing a consistent story and message for their campaigns that really catches the attention of their users. Creativity and a profound knowledge about the interests and needs of existing and future customers are the key ingredients of making any memorable and successful ad.
Let’s take the case of an internet retail brand as an example: the goal was to set up a series of campaigns to increase branding and viewability across multiple channels. A multichannel strategy was set up to ensure the highest visibility across all channels and devices to promote one of their products on audio, display, and video channels simultaneously. The strategy included a mix of behavioural and contextual targeting, with private marketplace (PMP) deals with various publishers set up to target the audience using the brand‘s own first-party data. Additionally, a data management platform (DMP) was used to provide third-party contextual data. This omnichannel advertising strategy helped to maintain the brand’s 70% viewability target across the multiple campaigns, ensuring ads were seen by its target audience, and with the best performing ads reaching a viewability rate of 96%.
In order to free up the time to set up complex campaigns like the one described above, companies should use smart technologies that take on data analytics and repetitive actions. Artificial Intelligence is a powerful tool that helps advertisers with both these things, as well as helping to identify cross-device customer habits,
Over the coming years, the AI technologies powering programmatic will become even smarter. But the one thing AI can’t do is think creatively – at least, not to the extent that humans can. To create great advertising, man and machine must work together.