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Programmatic Advertising – Scope, Benefits, Why do you need it?

Millions of websites, apps, and other digital content are viewed every day. As a result, it becomes increasingly challenging to use separate platforms for advertising and decide where to place your ads online. 

Programmatic advertising addresses this challenge. You can also streamline the digital advertising process and consolidate your efforts within a single programmatic advertising platform by automating transactions. 

Top Programmatic Advertising Channels:

Programmatic platforms now offer inventory and a database that enables any format and channel to be accessed programmatically. The following are 5 commonly used programmatic advertising channels and formats. 

  • Display Ads
  • Social Ads
  • Audio Ads
  • Video Ads
  • Native Ads

Top 5 Programmatic Advertising Platforms:

Programmatic advertising platforms allow marketers and advertisers to automate the purchase and management of their digital advertising campaigns. The top 5 programmatic advertising platforms are given below:

  • SmartyAds
  • TubeMogul
  • Simpli.fi
  • MediaMath
  • PubMatic

Scope of Programmatic Advertising:

According to eMarketer, “Programmatic Advertising contributed $25.4 billion to the digital advertising market in 2016, up from $17.5 billion in 2015. The industry is projected to reach US$45.72 billion by 2019, meaning it has grown more than two and a half times in four years.” Nearly $96 billion will be invested in digital display advertising by 2022 in the US.

Just as in the US, programmatic advertising is rapidly growing in India. A significant benefit for the Indian market is purchasing inventory in a single panel – OTT, YouTube, display, mobile apps inventory. By managing the reach and frequency, a Brand can maximize its space for a given target audience by choosing the right frequency range. 

Benefits of Programmatic Advertising:

The advantages of programmatic advertising extend rapidly. The top benefits of programmatic advertising are:

  • Enhanced transparency and control

Advertisers benefit from programmatic advertising because it offers a level of transparency that traditional advertising cannot match. For example, as a result of programmatic advertising, you can see in real-time the exact sites where your advertisements appear, the type of customers viewing your ad, and any additional costs related to ad space. 

  • Real-time monitoring

You can immediately measure how creatives, campaigns, or overall targeting performs (though we don’t recommend making any changes for a week or two). Unlike traditional advertising, such as billboards or print ads, you can see results immediately after the campaign starts.

  • Increased efficiency

The overall efficiency of digital advertising has dramatically increased with the ability to measure a campaign throughout its lifecycle. Using real-time measurement, advertisers can track their movements while making as needed. In addition, optimizing a campaign ensures it reaches only the ideal target customers while using the budget wisely.

  • Improved targeting capabilities

With programmatic advertising’s increased flexibility, advertisers can directly reach their ideal consumers for any given objective. In addition, marketing and advertising can use retargeting to reach the other 98 percent of consumers now that they’re aware of your brand and encourage them to convert.

  • Increased audience reach

The best approach is to narrow that down to the ideal consumers, but this vast potential reach is not only impressive and easily measurable. For example, the moment a display advertisement is viewed, advertisers know how many impressions it served, who considered it, where they were online, and so much more.

Programmatic Advertising trends for 2022:

The programmatic advertising landscape is changing with new technologies such as artificial intelligence, machine learning, voice search, and digital OOH attracting most advertisers. Here are a few trends:

  • Programmatic advertising with AI
  • GDPR benefits advertisers
  • Voice-activated ads go beyond in-home smart devices
  • Blockchain & Ads.txt 
  • Omnichannel programmatic advertising

Top reasons why you need it:

Through programmatic advertising, marketers can effectively reach their most important audiences using digital media more efficiently than ever before. However, programmatic advertising is not the future of advertising. It is present now. Following are the top reasons why you need it:

  • Enhanced Targeting Strategies

With programmatic ads, all the guesswork associated with traditional ad campaigns is eliminated by using vast amounts of data. As a result, it is possible to target any number of different demographics.  

  • Enhanced tracking capabilities

Another benefit of programmatic is the ability to track those who have served your ads. As a result, you can look at not only the total number of conversions but also the category and value of each conversion you’ve gained from those who have viewed or clicked on your ads.

  • Automation

The automation also helps advertisers avoid human error, as software can access more data than a human being could ever hope to consume. The program can then make the best decisions about placing your ads in front of the right audience. As a result, you can essentially put all of your ad campaigns on autopilot and monitor the results.

  • Tomorrow’s Wave

With programmatic advertising, the way advertising is bought and sold online has completely changed over the last few years. However, in the coming years, most online ads will likely be bought and sold programmatically. 

Conclusion:

We hope this blog on programmatic advertising has provided you with enough information to explore further and begin implementing it in your advertising strategy. Get in touch with RIDM to learn Programmatic Advertising deeper. 

– By Sreeja Mohan & Marbin Shamini, RIDM Content Team.

Reach us right now to get yourself enrolled in RIDM’s Programmatic Advertising Course. 

Call @ 094803 84045 or check out https://www.facebook.com/ridmIndia/ or

 https://www.instagram.com/ridm_india/ or 

https://www.linkedin.com/company/ridm-regional-institute-of-digital-marketing/ or

 https://www.youtube.com/channel/UC2Wvh5qkNhr66LUNrNS67sg

 for more information.

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