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Each year the industry is becoming increasingly convinced that programmatic drives the world of digital advertising. It's transforming the way we look at ads as consumers and how advertisers acquire and sell content. It's changing the way agencies and brands work, as well as pushing the rapid acquisition of technological capabilities. Now adding programmatic into your marketing strategy is not just a good idea - it is a must.
According to ReportLinker, the Global Programmatic Advertising Spending Market is expected to grow by $ 148.53 bn during 2020-2024 progressing at a CAGR of 21% during the forecast period.
Programmatic advertising is incredibly efficient and unrivaled in its ability to combine comprehensive audience data with ad inventory and targeting. One of the key reasons for this is because programmatic is all about intelligent data-driven decision-making. Let us see what are the main reasons and benefits of programmatic advertising.
Traditional advertising lacks the transparency that programmatic advertising provides to marketers and advertisers. Advertisers can monitor and control where their ads appear in real-time, as well as who is viewing the ad. This allows them to swiftly optimize the advertising to get the most out of them. Publishers have control over who can place ads on their website, how much the floor price is, and so on.
Programmatic auction technology can establish a fair and efficient marketplace by revealing the true value of seller assets to bidders. It also allows for the selling of inventory on an impression-by-impression basis in real-time, allowing data to be used to target specific users on a website rather than needing to buy impression blocks that are presented to all visitors.
One of the advantages of programmatic is real-time analytics and campaign optimization. Advertisers can receive real-time updates on the effectiveness of their adverts. This enables them to make changes as quickly as possible, avoiding the waste of ad dollars on something that isn't resonating with the target demographic. They can optimize their assets and maximize their earnings. Unlike traditional advertising, you don't have to wait until the end of the campaign to see results.
You can assess your campaigns in real-time, and more significantly, adjust and change them almost instantly in response to feedback, thanks to the constant streams of data and audience analysis. You'll notice how even little tweaks may have a large impact on engagement once you start optimizing your campaigns while they're running or letting a few algorithms handle it for you.
Advertisers can directly reach their ideal customers for any given purpose because of programmatic technology's greater flexibility. IP targeting, geolocation targeting, contextual keyword targeting, and so on are examples of this type of targeting.
Moreover, retargeting is one programmatic marketing strategy. Certain targeting tactics work better for various end objectives and KPIs, but retargeting is one tactic that will always improve the overall success of your digital strategy.
This gives advertisers a variety of ways to reach their prospects through precise targeting, ensuring that their ads aren't displayed to an irrelevant audience. On their first visit to a website, only 2% of visitors convert. Marketers and advertisers may use retargeting to keep in touch with the other 98 percent of their ideal customers and persuade them to convert.
The ability to reach a wide audience is a major advantage of programmatic advertising. On average, 3.5 billion people use the internet at any particular time. It's necessary to be present in the time of need for the customer—on any screen, through any channel. Programmatic advertising lets companies identify and target their audience in the most efficient way, whether it's through a video ad on a mobile phone or a display ad on a tablet.
New types of inventory are being added to programmatic capabilities, offering brands even more options for boosting their campaigns. Brands will have much more freedom and reach in the not-too-distant future.
ROI & Performance
Because of the lower waste and more precise targeting associated with programmatic ads, you may run a more effective campaign on a smaller budget. More precise targeting leads to fewer wasted clicks and impressions.
Programmatic is significantly less expensive than traditional methods of buying ad space, such as directly dealing with publishers. This is because these adverts are considered "remnant inventory." This means that publishers are having difficulty selling ads directly. They have a lot of ad space that no one wants to buy. As a result, they put it up for auction, which usually results in significantly lower pricing.
Programmatic advertising, according to more than 80% of marketers, gives a greater return on investment than traditional media buying. Furthermore, more than a third of them claimed that programmatic activities consume more than half of their money.
So, programmatic advertising is highly scalable, less expensive for advertisers, reduces effort, allows for higher ad personalization, and allows advertisers to more precisely target their KPIs.
You can easily start programmatic activity with the UBIDEX Programmatic platform for omnichannel advertising. Maximize ROI, achieve KPIs, and reach your target audience via personalized campaigns across all channels and device types. Contact the UBIDEX team and let's get started.
Contact the UBIDEX team and let's get started.
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