Marketers no longer have to manually order, set up and report ads. Recent technological advances have allowed advertisers to buy and sell advertising space automatically. This process is known as programmatic advertising and has become a crucial component of many companies’ marketing strategies. It is an automated way of buying and selling digital ads.
In 2021, global programmatic ad spending reached an estimated $418.4 billion, with spending set in the US on track to surpass $200 billion in 2023. Programmatic advertising uses data-driven algorithms to target the right audience with the right message at the right time. This makes it easier for businesses to reach their desired customers, while also maximizing their return on investment.
Programmatic advertising can become an invaluable part of your marketing strategy when properly optimized. Below we share five tips on how to take your programmatic advertising to the next level, appeal to new customers, and increase your bottom line.
Invest in the Right Solutions
If you want to take your programmatic advertising to the next level, then you should probably consider looking for the best programmatic advertising platforms that will help you automate the process of buying and selling digital ads online through efficient real-time bidding, using data and algorithms to target specific audiences.
Investing in such advertising platform solutions can help publishers find the best services and get access to advertisers who match their needs. By using this type of tool, you can increase your efficiency, and focus on other important aspects of your operations, such as product development and customer engagement. In addition, a programmatic advertising platform will take care of any technical issues and make sure you’re ready for industry updates and new regulations.
Segment Your Audience
Segmentation can help you understand what your customers want. Many companies use demographic research to identify their target audience. However, demographics do not always provide a complete picture of consumer preferences.
There are a variety of segmentation techniques that programmatic advertising uses to its advantage. It is possible to create a marketing plan that appeals to all customers by dividing them into different segments. The most effective tools are psychographic segmentation, which focuses on preferences and interests.
Imagine you own a skincare company and someone visits your website to look at specific products. The user leaves the computer for a while to run errands and then returns to check Facebook. A Facebook ad that is relevant to the item of interest of the customer appears on their feed. This further encourages them to purchase. This type of interest-based marketing keeps your business relevant in the minds of consumers.
Understanding the Customer Journey
Advertisers are often curious about how to improve their customer journey roadmaps. The time between first contact and purchase is usually determined by the customer’s shopping history. Conversion rates are influenced by a pleasing website, helpful staff online, and a user-friendly policy.
The success of your business depends on a positive customer experience. They’re more likely to spread bad experiences online if they don’t like your website.
By providing content that is tailored to the user’s interests, programmatic advertising can help reduce low conversion rates. Many advertisers struggle with low conversion rates because they do not know which channels their audience prefers.
A business owner might believe, for example, that the lack of sales staff is responsible for poor sales. It could be something else entirely, like an outdated website, or a lack of social media presence. Programmatic advertising, however, focuses on these issues so that business owners can make the necessary changes to generate more leads.
CRM Data Integration
We find this aspect of programmatic advertising to be the most interesting. By offering discounts and unique offers, you can reactivate customers who are already generating revenue or attract new ones.
You can also use CRM data to create lookalike audiences that are based on the existing customer base. It gives advertisers an alternative to the predetermined target audience and contextual targeting, allowing them to reach a more receptive audience.
Make the Most of Your Creative Power
Even though programmatic advertising is a great tool, your marketing campaign should still be driven by compelling creative copy. Even highly successful marketing tactics will not be effective if they are not used correctly.
You should test your creative copy with your audience regularly, as they are always growing and changing. You can use programmatic advertising to determine their interests and make the necessary changes.
Final Thoughts
Programmatic advertising is important because it allows businesses to be more efficient with their ad spend. By using data-driven algorithms, they can target specific audiences and ensure that their ads are being seen by the people who are most likely to convert.
By investing in the right tech solution, segmenting your audience, understanding the customer journey, and using powerful creative, you can expand your current efforts, while maintaining control and producing great results.