Programmatic advertising is rapidly replacing traditional advertising methods— let’s see why.
A study conducted by the National Center for Biotechnology Information in the US claims that the attention span of an average human dropped from 12 seconds in 2000 to 8 seconds in 2013, owing to the excessive use of digital media. As a result, customers often forget most of the brand advertisements they come across on the internet. This is when programmatic advertising comes into the picture.
Programmatic advertising is a marketing approach that offers automated buying and selling of online advertisements. In simple words, it is a process of buying digital media spaces on different platforms by analyzing potential audiences to improve a brand’s visibility. Many budding entrepreneurs are considering this approach over traditional advertising because of the many benefits it offers to startups.
Reaching the correct audience
In the initial phases of a business, there’s a dire need to recognize its target audience to market the products and services effectively. Programmatic advertising is a data-driven approach that observes consumers’ buying behaviors based on their online activities.
Moreover, its targeting methods are also influenced by factors like customer demographics, location, financial stability and personal interest. This approach offers algorithm-based tools like Google Analytics’ Audience Tab, Facebook Business Page Insights and Consumer Barometer to analyze potential customers and target ads accordingly.
Effective time management
Time management is an important aspect for a startup to accomplish its business goals. Traditional advertising approaches where entrepreneurs would contact sales representatives to understand consumer needs as well as market trends consume a lot of time. Instead, digital advertising platforms specialize in the accurate and quick detection of these trends by using software-based tools like Growthbar. Additionally, these platforms also offer quick lead generation services that help in expanding a startup’s reach while increasing its brand awareness in the market.
Media transparency
Earlier brands could only dream of having media transparency to witness the ad agency’s performance. This was a difficult task due to a lack of data management in advertising campaigns. However, programmatic advertising eliminates this barrier by offering digital solutions for keeping track of campaign activities. From initial budget allocation to campaign results, a database system is created for each campaign stage. There are many Data Management Platforms (DMPs), like Salesforce DMP and Lotame, for tracking the campaign’s reach throughout all the media channels. This eliminates the risk of fraudulent practices in ad agencies including the unaccountability of expenditures, lack of data management, money laundering.
Tracking real-time insights
Tracking the insights of each ad campaign can prove vital for every startup owner and programmatic advertising makes it come true. Tools like Cyfe and Supermetrics offer real-time campaign analysis to check the performance of targeted advertising. Based on these insights, advertisers can make changes in the campaign objectives if needed. This helps to measure a campaign’s success as well as foresee the failure so that necessary steps can be taken to avoid it.
Programmatic advertising is indeed a game-changer in marketing startups. Its modern approach to reach audiences makes it more desirable than traditional advertising approaches.
Header image courtesy of Unsplash
