From the podcasts you listen to on a daily basis to the video content you watch on YouTube, there are ads everywhere. Almost every brand or business is taking the online advertising route to make people aware of the product or service it offers. This also justifies the rapid increase in the number of ad platforms, and as a result, new advertising techniques are being introduced every day. In today’s time, programmatic advertising has become a must for ensuring the success of digital campaigns. This is the process of buying and selling ads with software and publishing those ads contextually based on complex algorithms. It allows brands or agencies to automatically bid for the available ad spaces. Although there are a large number of options available, demand-side platforms, or DSPs, are the most common platform for buying ad space.
What are Demand Side Platforms?
Originally, demand-side platforms were developed to be used for web ads only, where advertisers could generate brand awareness or drive customers to their website, resulting in a purchase. But since mobile devices have slowly taken over the market, DSPs have become an essential component of programmatic advertising. Every demand-side platform uses machine learning models for user targeting and campaign optimization. By having an algorithm in place, it becomes easy to evaluate the value of each potential impression and bid in real time.
Gone are the days when advertisers put time and effort into managing ‘allow’ or ‘block’ lists on a publisher level. DSPs have changed everything, making processes more automated. This not only reduced the time required but minimized the manual efforts as well. Now advertisers can shift their focus to more important things such as user acquisition strategy, testing and optimization, and measuring success.
Benefits
Here are a few advantages of using demand side platforms in programmatic advertising:
- More Efficient Workflow
- Expanded Access Through Real-Time Bidding
- Higher Returns on Investment
- Access to More Features
Tips to Boost Performance
This is a fact that demand-side platforms are complex software that advertisers can use to purchase ads through automated programmatic advertising. To ensure the success of your advertising campaign, it is important to keep a few things in mind. Here are a few tips to boost performance while using a DSP for programmatic advertising:
Keep It Flexible
While using a demand-side platform for programmatic advertising, it is important to keep the overall campaign budget and daily spending limits flexible. If you run a campaign while adhering to a strict daily limit, it can have a majorly negative impact on the overall performance. Since DSPs use machine learning models for user targeting, it is important to reach large enough sample sizes to identify high-quality users. When there is enough flexibility in terms of cost or budget, it gets much easier to target more users.
Choose the Right Goals
When you start an advertising campaign, one of the first things you should do is define the goals. It is extremely important to have a firm understanding of what you are trying to achieve. When you have a clear picture of the goals to be achieved in your mind, it gets easier to measure the performance of the campaign. Some of the most common goals of an advertising campaign include event optimization, return on advertising spend (ROAS) optimization, and retention rate optimization. This not only helps you to analyze the campaign’s performance but also make any changes if required.
Use A DMP
As the name suggests, a data management platform (DMP) collects, organizes, and activates first-, second-, and third-party audience data from various sources (online, offline, and mobile). Later, this data can be used to build detailed customer profiles for targeted advertising. While using DSPs, a data management platform can prove to be a great solution to improve user targeting and ensure the success of advertising campaigns. In short, a DMP is the backbone of digital marketing, which allows you to understand your target customers in a better way.
Try Different Platforms
Since there are so many different platforms available in the market, choosing one of them becomes a little bit complicated. Each platform has its own advantages and offers very different results. It is important to understand what works best for you before making a decision. Always look around to find a good match for the specific goals of your advertising campaign.
Patience is Key
It takes time to show satisfactory results, and advertising is no exception. Data plays an important role in making your campaign successful while using a demand-side platform. When you use a data-driven strategy and incorporate Dynamic Creatives in your programmatic advertising strategy, the results seen will be multi-fold. When an ad with a personalized message is served to the right user at the right time, you know that you have aced the programmatic advertising game.
And, the longer a DSP runs a campaign, the more data it will have, which can be used to guide its decisions. When you start a new DSP advertising campaign, do not get disappointed if you don’t see the results right away. The reason behind this is very simple - it has little data in the beginning. You should wait for at least 4-6 weeks before an advertising campaign starts showing stable performance.
Programmatic media buying through DSP is a trend that has gained huge traction in recent times. At Airtory, you can choose from a wide variety of programmatic creative sizes. When used as a part of your digital marketing strategy, it can open up a lot of opportunities for inventory and advanced targeting options. In short, if you want to maximize campaign performance, there can’t be a better option than this. Rich Media ad experiences when combined with the ease of DSPs can truly take your campaign to the next level. With the tips mentioned above, you can make the most of programmatic advertising using DSPs while maximizing the ROIs.
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