Programmatic Advertising, the best way to convert your audiences into revenue in 2017
As consumers constantly surf the shifting tide of media consumption and with their attention being drawn to a variety of platforms and media formats, we look at how Programmatic Advertising can help sports brands to reach targeted audiences and generate significant revenues in 2017.
As the name suggests, programmatic advertising is the use of software programs to purchase digital advertising inventory, eliminating over-reliance on staff and resources. One of the human elements that programmatic removes, is manual bidding, making the process faster and cost efficient.
Sectors like retail, travel, e-commerce and FMCG have successfully integrated programmatic advertising into their marketing strategies, but the burning question is does programmatic aid in converting audiences into revenue?
Let’s answer it directly.
Programmatic advertising not only gives advertisers and publishers scalability but by being software led, it removes the traditional agency bunk of media wastage (which isn’t wasted at all, it’s just been taken as fees you didn’t know about). Significantly, any digital media campaign like programmatic also allows for copious amounts of data to be captured.
Furthermore, programmatic campaigns can now be fuelled by targeted user behavioural data, ensuring that relevant users are served viewable formats with relevant messaging on their favourite sites. To put it simply, programmatic has cleaned up its act and so have the people using it.
Any digital media campaign like programmatic also allows for copious amounts of data to be captured.
Our Approach to Digital Media Campaigns
Here’s how we approach each digital media campaign for our clients:
Audience Prospecting – With the 1st party data collected from phase one, our prospecting phase enables us to create groups of audiences. This is where 1st party data meets 2nd and 3rd party data and has a data party. What’s the difference between 1st, 2nd and 3rd party data? Read this. 3rd party data such as ComScore and TGI gives us the ability to create lookalike profiles from our own data to then reach new, wider audiences using profiles that fit the bill of a customer. This insight derived by our team of analysts gets passed to the strategy team to build campaign activations that achieve commercial objectives.
Campaign Activations – Once our team of analysts have done all the sciency stuff, the media buying squad take over. Taking client budgets, planning them in beautifully designed spreadsheets for the duration of the campaign, setting the bidding rates against audiences across a variety of platforms such as Facebook, Instagram, Google DoubleClick and YouTube, then pressing the green button to go live. They’ll set a bidding ceiling to ensure spend is capped and buyers will optimise against moving trends such as the market, weather, transport and environment daily. It’s a militant process and it’s the reason why we achieve industry leading CTR, Conversions and ROMI for our clients.
Okay, so what other data aside from 1st party do we use in our digital media campaigns?
Our digital media campaigns are supported by such a wealth of not only 1st party data that we collect and prospect, but also 2nd and 3rd party data that we acquire to ingest and correlate against 1st party.
Examples of data that we use to smarten up our media campaigns includes, ComScore, the world’s leading cross-platform measurement company that precisely measures audiences, brands and consumer behavior everywhere and Target Group Index (TGI), which is a continuous survey where data collection runs throughout the year so that seasonality does not skew results.
Buying media without the access to data, or the ability to capture it, seems so ridiculous in 2017, yet billions are spent every year on print, outdoor and TV advertising. It’s simply a waste of money.
Why would you opt for Digital Media vs Traditional Media in an advertising campaign?
Buying media without the access to data, or the ability to capture it, seems so ridiculous in 2017, yet billions are spent every year on print, outdoor and TV advertising. It’s simply a waste of money. I mean, in one TV ad break you can find ads for sofas, insurance, electricals, online betting, toothpaste and curing hair loss. Care to have a guess at what audience demographics fit that profile?
If you’re still not sold, let’s paint a more detailed picture to the sports sector. You have a big athletics event in London and are looking to reach a segment of people that may be interested in attending. You have multiple opportunities to achieve this objective:
You advertise to a large segment of 100,000 people who get the London Underground each day. It’s a chunky group of people and there’s a good chance that some of that audience will be interested in your event. However, you have no detail into audience demographics (except 3rd party that is provided by the media company – which will be skewed), no data on brands that the users of the underground have spent money with, nothing on the events that any of the passengers have attended or any data into their hobbies or interests.
You advertise to a smaller group of people, say 50,000, but these are categorised as big eventers in London (which means they attend multiple big events in the capital each year), live within the M25, married with two kids, have an estimated household income of £120,000 and enjoy running and cycling. Where would you rather spend your marketing budget?
Programmatic advertising is driving commercial success in every single modern industry and the sport sector needs to get excited about it. If you’re looking for generic brand awareness, then yes of course, blanket the market with ads across TV, print, radio and outdoor. But, if you are looking for specific target pockets and require some form of direct response, programmatic is the way.
At WePlay, we utilise programmatic advertising as part of a data-driven service to achieve commercial success for our clients. It’s a major part of our full-service operation that connects strategy with creative and commercial, allowing us to reach global audiences and deliver a return on our clients’ marketing investment.