At WePlay, programmatic is the bridge between content marketing to global sports audiences and commercial success.
Programmatic has been a buzzword for a number of years now in the media and advertising world, yet its complexity and scientific jargon often makes it hard to fully comprehend for most marketers. Done right, the results can be 1) better targeting and insights into the behaviours of your customers 2) more effective results and 3) a more cost efficient process.
However, it really requires you to understand the principles and to stay up to date with the latest innovations. But then, what business doesn’t?
If you don’t know what programmatic advertising is, to put it simply, it’s the opposite of manual media buying.
The OLD way of digital media buying
Advertisers used to buy advertising space directly from publishers and the price would be negotiated between the parties involved. Advertisers would then need to track results from each site manually and would buy media on a cost per thousand impressions (CPM) basis.
Then there were ad networks that acted as brokers between publishers and advertisers, selling the inventory to advertisers. The ad network categorised the inventory and sold it in packages. This increased the reach of the advertisers and the ad network then did the tracking for the advertisers.
The NEW way of digital media buying
Enter the ad-exchange which is a technological platform that facilitates automated buying and selling of inventory, often through real-time auctions called real-time bidding. Imagine it as a giant pool of impressions, where advertisers can bid on each impression based on specific targeting criteria in real-time.
In a recent campaign for our client, a cycling rights holder called Six Day, we used programmatic advertising to sell tickets to their upcoming event which was announced with the world renowned Sir Bradley Wiggins riding.
Imagine it as a giant pool of impressions, where advertisers can bid on each impression based on specific targeting criteria in real-time.
Let’s create a simple story. Here’s Jon, a 25-year-old male with characteristics that position him as a HNWI (high net worth individual). Jon is worth a certain amount of money to you as a potential customer and for arguments sake, we’ll go with a £25 CPA. However, your competition might value him at £30 and therefore will outbid you, which means it’s their ad formats that will be subsequently shown to Jon instead of yours.
So instead of paying for a publishers’ whole audience, which may have a large proportion of people who are not in your customer set, you the advertiser pay only for the specific user who is most likely to buy your product.
The benefits and advantages of Programmatic
A benefit of this process is that it ensures the ad is being served to the right person at the right time and the publishers are able to gain more revenue, by selling more inventory through the ad-exchange. For brands to get the most out of using programmatic, they need to focus on the entire customer journey including where they come from and where they went after they visited your page. (Cookies)
Programmatic trading also enables brands to buy media owners’ inventory at short notice via technology that targets ads depending on the audience the advertiser wants to reach, or the environment in which it wants to be seen. Messages can be tailored in real time to take advantage of events, behaviour or specific times of the day.
For brands and advertisers, programmatic provides unrivalled access to data and audiences in a way that they could never execute at scale before. Marketers can make decisions to alter campaigns in real time by thinking about how it changes their strategy, where they would now want to buy inventory, what audience they want to buy and how much they want to pay.
The WePlay way of digital media buying
At WePlay, programmatic is the bridge between content marketing to global sports audiences and conversions for our clients.
As programmatic advertising evolves, the challenge is understanding the science and combining it with the art of content production that drives people to act, engage or purchase a product.
If you would like to learn more about programmatic advertising and to discuss how we can help you with your campaign, then drop us a line!