What is Programmatic Media – Am I doing it Right?
There is a lot of talk in the advertising industry about the shift to programmatic media buying and how programmatic is becoming a bigger and bigger piece of the marketing pie, yet rarely do you find the answers to the simplest questions such as:
What is it? How does it work? Why should I be doing it?
As a result, the space has become shrouded with mystery to the average marketer, even those who are active in the digital space. This lack of clarity ultimately leads to the technology being underutilized by marketers and agencies alike.
What is programmatic all about?
Programmatic is about using technology to streamline the media buying process and create efficiencies in workflow. It centralizes media operations by consolidating the plethora of media and data partners in the over-crowded display, mobile and video space.
With programmatic media, inventory is now directly at your fingertips, bringing order to the process, allowing for real-time optimization across partners and freeing up marketers to focus on what matters, their consumer and their business.
In the past, marketers needed to push out an RFP (Request for Proposal) to a multitude of different publishers to achieve their campaign goals. The marketer would wade through each proposal, critique each one and finally select their partners.
As the media world became more fragmented the list of RFPs continued to grow and things became more and more complicated. The RFP model also requires upfront commitments making it difficult to optimize across partners based on performance.
Reap the rewards of buying programmatic
So, are you taking advantage of programmatic technology? Often times DSPs (Demand Side Platforms) or trading desks are simply another line item on the old RFP process, inherently failing to take advantage of the tremendous power of programmatic technology. Instead, it’s adding to the complexity of the already difficult task of partner selection.
While testing a programmatic partner on an RFP is a good place to start, it is important that the goal of the test should be holistic in its approach. Each technology should be carefully vetted to determine which is the best complete marketing operation system and not which partner performs best on a particular plan or for a singular objective.
In today’s age of programmatic media buying it is imperative that we as marketers take control of our media buying operations, if we don’t somebody else certainly will, leaving us on the outside looking in.
Interested in hearing more about programmatic?
Follow our blog to read more about programmatic media and join us at our new Buyerside Chats!
Buyerside chats will bring the programmatic community together for monthly meet-ups to discuss the best practices, and trends in the programmatic space. Stay tuned for more details on our next Buyerside Chat!