Why have big brands like P&G invested so heavily in programmatic buying this year? Simply put: It's perhaps the most exciting marketing opportunity that can solve many big problems for our industry. Marketers want to save time and money while knowing their ads are reaching the right audience. They love taking advantage of automation and efficiency while cutting down on overhead. They also love to tackle creative marketing projects while still achieving basic goals. This is what programmatic provides. So why do so many myths surrounding this strategy still exist?
While it's exciting for those who understand the potential, programmatic elicits the classic unfounded fear: My job will be replaced by robots. Here are the biggest misconceptions you should squash and why investing in this process is vital.
Programmatic is RTB
Real-time bidding was an amazing advancement, but it's only a subset of programmatic. Programmatic now encompasses much more than what simple RTB can offer. It's a huge automated buying process that allows large-scale inventory from premium publishers to be purchased and served in real-time. Equating programmatic to RTB is a bit like confusing a sports car with a good engine. RTB is now a piece of a much larger machine that allows for hyper-efficient media buying at scale. This is the programmatic process.
No one knows more about how effective and efficient this practice can be than Jessica Coren, VP of client services for Adroit Digital and an expert in this field. She speaks to iMedia about why the misconceptions around programmatic should be corrected and the key benefits of adopting a programmatic process for large-scale media buying.
Programmatic is made up of remnant, low-quality inventory
This is another big misconception that has been floating around the industry for too long. The idea that programmatic buying means purchasing inventory that is a publisher's afterthought is simply not true. In addition to high-quality control standards for the practice, private marketplaces ensure that publishers are offering premium inventory to advertisers at fixed prices. Publishers are able to select which advertisers they would like to work with and offer inventory that is of guaranteed quality and visibility. It's a myth that publishers are not committed to or involved in the process. Large-scale inventory is available on many publisher sites, most of which would go unused if it wasn't for programmatic. Publishers are happy to work in this area to generate more revenue and establish partnerships with premium advertisers. Every day they are making more of their inventory available to programmatic because they realize the potential and see the results.
Jessica Coren from Adroit Digital continues our conversation by explaining the unique ways her company approaches the programmatic space in the forms of a data co-op and pixel-free technology, as well as key lessons the industry can learn.
Targeting limitations and the absence of the human element
Marketers may be wary of programmatic because they think that their ability to target beyond basic demographics at scale is limited. This is simply not the case. Thanks to the power of data and smart marketing practices baked into the programmatic process, media can be targeted to vast segments of your audience with hyper-accuracy. Targeting and technology have improved so much over the years that whether you're using an IO or an automated method, you will capture the ideal market segment if you partner with the right company.
Lastly, marketers need to understand programmatic is not robots taking over your media buying. It's simply a tool in your professional tool belt that can free up time, eliminate error, and allow you to focus on more creative marketing tactics. If you make the right partnerships, the personal touch you enjoy with clients today will not only remain, but also grow stronger. Smart programmatic partners know that the human element is key to this whole process.
So are marketers ready for this tidal wave of programmatic? Jessica Coren from Adroit Digital ends our conversation with her final thoughts on the landscape and how you need to approach the space, partnerships, and strategies surrounding this world.
Learn more about Adroit Digital.