There’s no doubt that the nature of advertising has changed. In the past, business owners who wanted to advertise their goods and services needed to go through a lengthy negotiation process to get their business in front of consumers.
In today’s world, programmatic display advertising—the automated buying and selling of ad space—is the way to go. Statistically speaking, 90% of all digital display ad dollars are now going to programmatic advertising.
If you’re a business owner who wants to take your ad strategy to the next level, here are six steps to jumpstart your programmatic display advertising strategy and take advantage of this unique technology.
1. Set the Right Goals
A clear goal is essential before you launch your programmatic advertising campaign. Not only does a measurable goal help you gauge success, but it guides the first steps you take. For instance, consider whether you’re looking to:
- Increase brand awareness
- Figure out a way to spend less on advertising
- Gain new leads or market to previous customers
Knowing your goals will be helpful as you build your creative plan and incorporate data into your campaign.
2. Decide on Your Creative Approach
Programmatic display advertising is unique because it allows you to use many types of ads, including the following:
- In-app ads
- Banner ads
- Video ads
- Native ads
The advertisements you select should build toward the initial goal you set. For example, if you’re trying to gain awareness, a million views of a video advertisement would be a success. But if you’re trying to get consumers to fill out a contact form, views wouldn’t be enough! You’d want click-throughs to a contact form.
3. Partner with a Demand-Side Platform (DSP)
The demand-side platform is where you will purchase your advertising space using data and automation. It will also be where you manage your campaign, so selecting a DSP that offers all the features you want is crucial.
For example, you may need real-time reports, brand-safe functionality (to avoid your ads being displayed next to sensitive content), transparent pricing, or a specific type of ad inventory. Check with your chosen DSP to ensure it has what you need before spending any advertising budget.
4. Manage Your Insertion Orders and Line Items
An insertion order refers to a set of line items related to one campaign. After selecting a DSP, you’ll want to ensure you get to work setting these parameters for your future campaign.
Insertion orders address campaign start and end dates, pacing, ad types, impression goals, and target audience. These line items are critical, as they will help you keep your budget in check and ensure the best return on your investment.
5. Use Data for Targeted Advertising
Data is the backbone of a successful programmatic advertising campaign. You will use it to make sure you segment and target your audience correctly. This includes the first-party data you collected directly from customer surveys or your customer relationship management platform, second-party data you purchased from another source, or third-party data you collected from a publicly-available aggregator.
6. Launch and Optimize Your Campaign
Once you have completed the preparation phase, it’s time to upload your creative approach to your DSP and launch your campaign. Don’t wait until the campaign is over to start optimizing. Check your reports often and make tweaks to increase your campaign’s effectiveness.
Having the Right Strategy Matters
While programmatic display advertising can save businesses time, reduce advertising costs, and increase campaign effectiveness, you can only reap these benefits when you employ the right strategy. Simply throwing ads into the mix won’t help bring in leads or sales.
Whether you’ve tried programmatic advertising before or are considering starting your first campaign, the 10x Digital team can help you determine where it fits in your overall marketing strategy. We’ll show you how to manage your campaign in a way that brings a return on your investment.
Contact 10x Digital today to learn how our comprehensive and data-driven strategies can help you improve your advertising approach.