In the past few years, media buying has significantly evolved through programmatic platforms. In the old days, advertisers would contact their publishers and negotiate deals to get their products or services displayed to the masses, but as technology advanced further, the purchase of inventory became possible through real-time bidding.
Real-time bidding helps advertisers find their target audience, and in turn, the advertiser’s ad is seen by those who are most likely to respond. This is an automated way to advertise a product or service via different platforms. As real-time bidding is relatively a new technology, many people aren’t aware of its benefits. Here are 5 reasons to love real time bidding and how it can be beneficial for your business.
Buying and valuation
Real-time bidding enables marketers to bid on impressions rather than buy online media at a pre-determined price. This is not only cost effective, but it reduces waste and stops marketers from paying over the odds for media. As a result, you only pay what an impression is really worth.
Online marketers are becoming increasingly aware of the advantages of first and third party data. To target their desired audiences, sellers and advertisers can create a profile of their consumers by simply mirroring the attributes of their existing clients. First party data allows advertisers to optimise their potential customers based on quantities. Real-time bidding gives advertisers the opportunity to access the media they want for their target audience.
Dynamic optimization and analytics
Another huge benefit with real-time buying is its ability to update campaigns. This is due to the fact that performance data is made available during the campaign and as a result, advertisers can easily adjust their ads or update them whenever necessary.
The importance of Real Time Bidding
Although advertisers have been quick to take advantage of real-time bidding, publishers on the other hand, have been somewhat slower to adopt this campaign. What publishers need to realise is that they can decrease the cost of doing business through RTB. In fact, the inventory can easily be monetised and instead of spending too much time working on inventory classification, publishers can reach out to prospective advertisers without straining on sales. Furthermore, publishing companies can choose to subset their inventory for any unsold real-time bidding, which will result in revenue that they may not have received previously. With easier access to affordable automaton, sellers and buyers are experiencing bigger rewards with smaller investments.
Making programmatic progress
With the increased advancement in programmatic marketing, many advertisers and publishers are finding improved processes across optimised interactions and comprehensive data. The easy flow of data via programmatic platforms leads to better real-time experiences that are specifically tailored to the needs of the consumer. More and more marketers as well as publishers are turning to real-time bidding as a model for programmatic progress and as a result, they can expect to get even more out of this platform than they’ve ever done from any other campaign.