Imagine yourself to be a marketer of an automobile company. You have been running ad campaigns for the promotion of your newly launched model. Unfortunately, the campaign results and brand recall have been poor. You go into the depths of the problem areas and come to the conclusion that you need more efficient means to reach your target audience. However, a major chunk of the budget was burnt on ATL mediums like television, & OOH (out-of-home) hoardings and also BTL mediums like trade shows, events, and concerts. Thus, it became extremely difficult for you to generate granular reports on the way your budget was spent. But, your company wants to see the detailed reports, along with the figures showing the ROI. Now, you had seen some amazingly precise targeting done by your competitors. You are now wondering how did they achieve this. Well, the way they cracked this problem – and you can too – is programmatic advertising.
Scope of Programmatic Advertising
Programmatic advertising is an automated approach to buying & selling of digital inventory. It uses codes and algorithms to streamline the traditional buying process and minimizes human intervention. It employs advanced technologies like AI and ML to mine through tons of data and to smartly decipher interesting data patterns, enabling marketers to take a smarter approach and enhance their strategies. With programmatic advertising, brands can reach the right customers, at the right time and under the right context. Thus, it is no surprise that Programmatic Advertising has transformed digital advertising all across the globe, majorly in the USA, which accounts for the highest programmatic ad spends globally.
Programmatic advertising is the latest trend in the Digital Advertising ecosystem in India and it is catching up rapidly. As the efforts of the government to promote Digital India continues, all businesses, their consumers and hence, their advertising efforts, are going digital. Add to this other factors like the increasing smartphone penetration, and high-speed data connections at affordable rates. Considering all these, it is a perfect time for advertisers in India to consider shifting their budgets to programmatic advertising. As per Statista, it is estimated that there would be an increase in programmatic media buying over the next years with a market share of approximately 74% by 2022.
Unprecedented Advantages Of Programmatic Advertising
The biggest and the most conspicuous benefit is its precise targeting capability. Advertisers can leverage the wide range of targeting options like demographic targeting, psychographic targeting, behavioural targeting, geo-targeting, targeting based on O.S. and O.S. version, browser and browser version, device and device ID, and so on. We, at Vertoz, provide all types of niche targeting. Also, one cannot underestimate the significant role played by its data-driven approach.
In today’s digital world, a whopping 2.5 quintillion bytes of data is consumed every day in the form of videos, images, emails, tweets and digital content. Data Management Platforms (DMPs) process, analyze and structure this customer behaviour on the internet in a way that helps advertisers to gain deeper audience insights, allowing them to understand their current and potential consumers in a better way.
Also, the omnichannel targeting capabilities of programmatic advertising allow brands to reach out to their consumers with consistent brand communication on multiple devices. Through techniques like Dynamic Creative Optimization (DCO), brands can display personalized ad creatives optimized dynamically based on the users’run-time preferences. Moreover, the automated approach minimizes the need for human intervention, thus reducing human errors and increasing the efficiency of traditional media buying and selling process. It also gives advertisers more flexibility, greater control over their creatives, and smart optimization capabilities that help them increase their ROI multifold.
Relevancy of Programmatic Advertising
These array of benefits have found applications in many sectors in the Indian context, in order to meet their generic or specific goals. Considering the online dating sector, dating apps planning to enter the Indian markets would benefit immensely from the unique targeting capability of programmatic advertising. Capturing the Indian market requires deeper insights and calls for understanding the nuances of the dating preferences in India.
Programmatic advertising helps these apps to leverage the demographic data and understand the surfing behaviour of their target audience. With a better understanding of their audience, they can have relevant and smart targeting and gain more traction. Thus, leveraging the unique targeting ability of programmatic advertising can be the perfect choice while exploring markets as fragmented as India. Similarly, firms in the BFSI sector would prefer to target finance sites, as they are likely to find a more relevant audience there.
Programmatic advertising is the perfect choice for them to achieve this, by enabling them to cherry-pick the relevant sites and bid as per their desired CPM/CPC. We, at Vertoz, provide brands with the lowest CPCs, thereby providing a high ROI.
The wide acceptance and adoption of programmatic advertising in the developed countries in the west is a testimony to the scope of programmatic advertising in India. For the ones who are still alien to this concept, it is a smart choice to familiarize themselves with this emerging technology and save a piece of their ad budgets to include programmatic advertising in their ad campaigns, for programmatic is here to stay, and the future looks shining bright!
Sounds interesting? If you have not explored the unprecedented advantages of programmatic advertising, it is about time you hop on to the programmatic bandwagon! Our team of experts can help you explore the wonderful world of programmatic. For any requirements, just drop us a mail at mktg[at]vertoz.com.