Programmatic buying is the use of automated technology to buy and sell advertising media space in real-time. This means that by the time you blink your eyes once, an extensive network of massive trade has been executed on the internet. All thanks to the power of automation.
Here are 5 things you must remember in programmatic buying:
- RTB vs Programmatic Buying
Many people think that programmatic buying and RTB are one and the same. Not really. RTB is just a sub-aspect of programmatic buying. It’s a platform for conducting open auctions where multiple-advertisers compete for an ad-inventory offered by the publisher where the highest bidder wins. It is not very different from a real auction, just that this one is entirely automated.
- Getting to Know SSP and DSP
Just like how retail is incomplete without its buyer and seller, programmatic buying is incomplete without SSP and DSP.
While SSP (Sell Side Platform) is a software for publishers to meet their prospective buyers and sell display, mobile and video ad impressions in real time, DSP (Demand Side Platform) is a software exclusively for the advertiser’s community to buy ad-inventories cross-platforms.
Cheers to automation, for enabling publishers to gain complete control over their inventories as well as empower advertisers to effectively track their audience engagement and ROI. Indeed, a win-win for both.
- PMP and Programmatic Direct
When it comes to selective potential buyers, let’s dive into the arena of PMP and Programmatic Direct. PMP (Private Market Place) is similar to RTB auctions but here only selected advertisers are granted access over an invitation. However, bidders can always apply for an invitation through a selection process.
Programmatic direct focuses on assured ad-inventories that aren’t auction-based. It is a direct automated buying process between the publisher and the advertiser.
- The Right Programmatic Tool
Every programmatic tool will have its own set of algorithms and technology. It is important to select a suitable vendor who offers the right kind of technology that complements your digital marketing objectives and overall campaign goals. If you’re a B2B business targeting a global-scale audience, a programmatic tool with algorithms that target local range audiences wouldn’t be your ideal pursuit.
- Look for Transparency
Transparency is the king when it comes to programmatic buying. A vendor must offer all the information regarding the authenticity of their ad-space, placement timings and realistic prices, preferably with a step-by-step breakdown of the costs. After all, you’d want your ads to be seen by genuine audiences and not bots.
With the advent of programmatic buying, we saw the upsurge of a well-organized and cost-effective media buying system. It completely eliminated the manual intermediaries in digital advertising making it extremely time competent. Programmatic buying is indeed a revolution in the media buying industry.