Customer identification and interaction are no longer trivial. Generating customer demand and providing after sales value are at the center of achieving success. Digital media is causing a complete shift in the perception of customer segmentation and aftermarket value offers.
Today’s marketers have numerous unique opportunities to reach their targets. There are at least a million web properties that can be used for a range of devices compatible with digital advertising. Ad-tech firms have tried developing platforms and tools to manage complex targets in the latest programmatic scenario but have failed. The main reason behind programmatic solutions performing dismally is the failure to see the real causes of the challenge. Not doing so limits understanding of the requirements at the human level.
A solution came in the form of demand-side platforms (DSP), which would help automated buying through real-time bidding (RTB) platforms. DSP however, found no improvement in decision-making about the precise ads a publisher should buy. The entire process grew cumbersome. Instead of automated programmatic solutions, real humans were to make their choices from robust data and display ads by sheer guessing in the end.
A new solution has been provided to DSP. Guided by artificial intelligence, the new programmatic solution efficiently uses big data to help advertising become more precise, efficient and user-focused. This technology helps marketers focus more on strategy and goals rather than simply focus on different tactics of showcasing the ads.
The next-generation DSP have already arrived and they help facilitate better advertising by:
1. Being more efficient
The best part about what a marketer can achieve from programmatic ad buying is more effective campaigning within a smaller budget. But more importantly, it is faster. With ad buys, you now have an easier workflow, as you no longer need tools like fax machines, Excel or Word. This also leads to improved targeting and thus, efficient pricing results in higher ROI. Here, you buy precisely those ad impressions you need, hence, make use of your ad spend more efficiently.
2. Reaching a precise audience segment
Programmatic ad buying solutions are built on algorithms driven by user data. This technique enables advertisers to easily find that right user or the place where the ad can be displayed for maximum impressions.
Marketers can make programmatic solutions more effective by using more information from anonymous data collected during different campaigns. Of course, the current trend of buying media across different channels should continue with marketers. The best possible way will be to collect all the significant insights from vendors, who use a cross-platform approach and organize their analytics in one place. This provides a better picture of customers and hence, increases the power of targeting customers with near-perfect accuracy.
With programmatic solutions, there has been a dramatic transformation in the advertising industry. Marketers today are equally strong in numbers and creativity. Analytics is the buzzword and used more abundantly than ever. Programmatic media companies are hiring statisticians, data scientists, and engineers, who help make the digital media more customer centric.