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As part of Solutions Review’s Expert Insights Series, a collection of contributed articles written by industry experts in the enterprise software categoryWilliam CEO Skelly causeway solutionexplains how programmatic data delivery can help reduce a company’s marketing budget.
By 2030, marketers will spend over $137 billion on programmatic advertising. Tailor your message in a one-to-one fashion when individual consumers are consuming information with their eyes and ears. What exactly is programmatic advertising?
Programmatic data delivery is defined as enabling real-time algorithmic buying of ad space. By using software to automate the buying, placement, and optimization of media inventory through bidding systems, programmatic places vast amounts of data into target audiences for businesses and brands. Most importantly, this data-driven approach enables marketers to reach the right audience with the right message at the right time through the right channel.
This data falls into several categories.
- In-house data Information that your organization collects from your audience. The company owns the data because the customer provides the information collected and created within the system.
- second party data Information provided pursuant to an arrangement with a partner to access it. their First Party Data. This data enables partners to provide high-quality first-party data and thus access to larger audience pools.
- Third party data Information collected outside your organization, usually anonymously from other entities and sold to advertising platforms. The materials are obtained from a variety of sources, including surveys, registration data, opt-in tracking, cookie-based tracking, public records, and offline transaction data such as loyalty cards.
Programmatic algorithms contain robust data, from geographic location and gender to consumer interests, likes and dislikes, past behavior, and more to expand your target audience beyond the consumers you know .. By utilizing Using programmatic data, marketers can refine their advertising strategies and improve campaign results. Knowing more about your target audience creates a competitive advantage for marketers to attract leads and increase sales.
Optimize your marketing budget
As ad spend continues to rise, marketers can use data management platforms to optimize budgets (DMP). DMP is software. Store first, second and third party data for creating target audiences. During the real-time bidding (RTB) process, advertisers use DMP data as built audience segments to direct demand-side platforms (DSPs) to target their ads.
When advertisers upload first-party data to the DMP, their unique customer information is enriched with second- and third-party data collected from business partnerships. DMPs synchronize the information they collect with data providers. Data providers distribute data to third parties to identify relevant audiences for advertising. Find high-value leads using first-party data and audience segments.
Features like Lookalike Modeling search for similar audience segments to The advertiser’s original target audience. These features improve the performance of programmatic advertising because the right message is in front of the right audience, significantly improving click-through rates (CTR) and the effectiveness of your marketing campaigns.
Benefits of programmatic data delivery and DMP
Programmatic data delivery and DMPs minimize data silos. Data is often segmented across different platforms and advertisers are “locked out” of the information. DMP gives you access to a single, interoperable data storage solution.
Additionally, DMPs can::
- keep advertising costs down
- Improve your reach to relevant segments
- Analyze audience trends in more detail
- Provide better data indexing of current customer data
A successful advertising campaign relies on a targeted audience. A more sophisticated audience will make your ad impressions more effective. The same marketing message can be delivered to people who are more likely to be interested in your product or service for a more efficient advertising budget. Organizations looking to optimize their 2023 marketing budgets can improve ad performance by leveraging programmatic data delivery and DMPs.
William Skelly is CEO of Causeway Solutions, a provider of Acquisition Analytics and innovative data services. As a self-taught programmer, he has a knack for extracting vast amounts of information and making complex concepts familiar and understandable. He has become a leader in helping campaigns and organizations use data in the most effective and cost-effective ways.
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