We’re all clued up on the power of programmatic advertising. There’s no denying it’s up there as one of the most advanced ways of getting products and services in front of the right people, at the right time, and on the right device.
By enabling marketers to reach targeted users and demographics and show adverts in real-time, programmatic has the potential to maximise your media spend and enhance efficiency. Think about the possibility of only spending on adverts guaranteed to reach people interested in your brand and its message – you wouldn’t waste a penny.
Don’t get carried away
However, it’s important not to get carried away, which is what can often happen when the next big thing hits the marketing world. Programmatic won’t fix everything and give you all you need with a single push of a button. Instead, we should think of it as another way to reach potential customers and clients. It’s the same with email, SMS and other channels. The insight you have on your target audience is what makes it so powerful.
Find the right data
Irrelevant of whether you’re hosting an acquisition, retention, or reactivation campaign using programmatic advertising, you run the risk of compromising effectiveness if you don’t have the right data to work with.
At Experian, we make a concerted effort to educate our partners about the importance of pairing offline and online insights in order to get a more detailed and reliable profile of customers and prospects. Keep in mind that the digital profile doesn’t necessarily reflect an individual. It doesn’t have the narrative around that person and stops us fully understanding the context around each interaction.
So while programmatic absolutely enables marketers to communicate in real-time, it’s only as powerful as the data plugged into it.
Marketers need to appreciate that programmatic is only one part of a much bigger picture. In order to leverage the incredible opportunities we have at our fingertips, all the aspects need to be combined.
There’s a vast amount of online interactions and it’s the context of those which is vital to developing and executing intelligent customer experiences.
Looking beyond online insights
It’s the recognition that programmatic is just one crucial part of a successful strategy that’s vital here. To build intelligent customer journeys, marketers need to take understanding of their customers beyond online. They need to understand context and appreciate relevance.
It’s all these pieces married together and fuelling programmatic advertising that is so exciting. So when you’re selecting which DMP or ad-serving platform to invest your money and put your valuable data into, it’s essential you make sure that platform can utilise the first, second and third party data required. If you are planning to utilise third party data, which we’d recommend, to bring an extra layer of insight, ensure the approach you take can easily facilitate additional data sources.
Remember, everything begins with data. Nail that and you’re on the road to delivering valuable customer experiences, across devices, channels and time.
By Tom Blacksell, Managing Director of Decision Analytics and Marketing Services, Experian
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