Why Programmatic Is Leading The Technology Revolution In Marketing
Brands that are able to conquer the complexity of technology and data will emerge victorious
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Programmatic advertising-in which search, social and display ads are bought and sold through machines-is on the rise with no sign of halting in the coming years. Technology has indeed revolutionized traditional marketing, and programmatic is leading the way by simplifying the digital media buying process using automation. In fact, as per eMarketer's forecast the U.S. programmatic digital display ad spending will exceed $45 billion by 2019. With numbers like that, marketers can't afford to fall behind the adoption curve.
There are more than one billion websites today and consumers interact with brands across multiple screens, channels, websites and devices, making it humanly impossible for marketers to reach out to the right audience manually. Digital as a medium provides brands with the ability to know more about their consumers in the blink of an eye using various data sources. These data sources can be harnessed to build long-term consumer relationships at scale. This is where programmatic comes in; it promises millions of ad buying opportunities every second.
A well-managed programmatic campaign, in fact, enables a brand to know its customers well beyond its original understanding. The insights gained help define a brand's marketing strategy. Brands can therefore spread their marketing messages accurately across a host of publishers, securing a wider, more diverse and relevant audience reach than traditional mediums of advertising (like newspapers and television) with minimum spillage.
Programmatic not only helps marketers understand their audience better than ever before, but also helps deliver the following:
" More efficient planning and execution: With programmatic, marketers have a unified, exceptional view of their customer data; this means, marketers can see which customer is responding to a particular message resulting in better targeting. They get a real picture of exactly how many customers their ads are reaching.
" Agile strategy and analysis: Marketers look at various combinations and scenarios across channels before acquiring the conversions. The reality is that in today's digital landscape, your audience is not just reading your brand's message; they are also experiencing your brand in numerous ways through multiple channels. Technology, thus, has become an integral component of the brand experience. Let's take programmatic videos as an example. During the FIFA World Cup, a user might see an ad for McDonald's and then check social media only to see the same ad again. When they watch YouTube later, they see the ad again. This kind of audience reach is a marketer's dream; and with money being poured into programmatic video, this will become a reality in the future.
" Data-informed decision-making capability: Programmatic allows marketers to make better decisions for their brands with the help of audience data in a broad context with scale, speed and confidence. Marketers can use this high-quality customer data (which includes information about the customer such as their history with a brand, their personality traits, interests, purchase behaviour, etc) to create relevant experiences.
The essence of programmatic advertising is leveraging data to engage your target audience with your brand's story. If a brand knows what its audience is looking for, programmatic advertising can show them the most attractive deals and free them from irrelevant and unwanted ads.
The future of marketing
Going forward, cutting-edge technologies including machine learning and cloud computing will allow programmatic to make the best use of data, resulting in a win-win for every stakeholder in the digital ecosystem: media owners, brands and consumers. The future of marketing involves the perfect blend of human creativity, and the split-second precision and profit potential of automation. Brands that are able to conquer the complexity of technology and data will emerge victorious. My advice is: embrace the future or say a not-so-long goodbye.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.