Digital Advertising holds a lot of promise to marketers to demonstrate and prove the marketing ROI by reaching out to the right target at the right time while providing transparency to the buyers and sellers community. With the prevalent fraudulent activities and data assumptions & tracking of impressions getting tricky with mobile, marketers are finding it difficult to get the desired results from their ad campaigns.
But addressing the potential pitfalls can make a marketer more effective. As consumers are fragmented with the continued evolution of medium and devices, smart technologies and platforms are bringing marketers closer to realizing their goals. Programmatic trading is seen as a game changer in the advertising ecosystem particularly in the way how advertising inventory is being bought and sold by advertisers and publishers respectively thus providing transparency, exclusivity in targeting, reducing operational costs and better ROI.
An Illustration of Exchange Market Place
Programmatic buying is on track to make up US$14.88 billion of the approximately US$58.6 billion digital advertising pie this year, according to eMarketer. That’s nearly US$5 billion leap from 2014, when it accounted for US$9.9 billion.
While marketers are clearly recognizing the power of digital advertising and the complexities associated with it, this paper aims to provide guidelines and address four key programmatic factors (big data, cross device tracking, retargeting and fraud detection) that will help marketers to device custom programmatic strategy for their organizations.
Key Concerns of Industry Users using Programmatic Platforms
Marketers, agencies and publishers are witnessing an explosion of new buying channels that connect both buyers and sellers with the objective to value inventory high and replicate the traditional direct buying process without the legacy process inefficiencies that are associated with it.
Key Factors in the Measurement of Advertising Effectiveness
Big Data and Analytics
Thanks to Big Data and Analytics that enabled online marketers to track accurate and detailed information on the path that leads to a sale, more than traditional marketing could ever do. With in-store beacons and mobile phone data, retailers can now start connecting the activity online to in-store buying and the desire for a complete understanding of a customer’s behaviour drives innovation, accelerated by technology. With Big data and analytics reaching $125 billion worldwide and spend on rich media analytics tripling by 2015,marketers should adopt integrated strategy by removing campaign silos and work with the partners who take a media agnostic approach to marketing.
Cross Device Tracking
More consumers are connected with the internet in many ways and with the advent of new tracking methods, businesses seek to target them across multiple devices (primarily desktop, computers, tablets and phone); though it is important to protect consumer’s privacy concerns. Among the cross device identification techniques that are commonly being used are “probabilistic” and “deterministic” tracking. With the advent, still nascent, of Connected TVs, Wearables and Internet of Things, the concept of cross device is expanding exponentially to include anything that gives off a signal. Gartner predicts that there will be 257.3 billion PCs and connected mobile devices by 2020. As the connectivity improves and purchases through mobile devices surge, marketers need to adopt appropriate methodology and perform smart analysis to maximize returns on their marketing spend.
According to Ad Roll, first time visitors who leave a site without converting amount to a s substantial 98 percent. So the goal of retargeting here is to entice those customers to return to your site with ongoing brand exposures and relative messaging.
Retargeting has gained marketer’s attention with 88% of marketers using Google Search and display being the dominant retargeting tools, according to Marin Software Sep 2014 report. Retargeting is being fraught with transparency-related concerns and it is a mystery for marketers, given viewability and brand safety concerns. With retargeting becoming a core part of marketing mix, it is critical for marketers to define clear goals for prospecting and retargeting. While attributing success to retargeting in the path to conversion, combine creative communications and targeting parameters of up sell and cross sell while applying different marketing metrics.
With the Internet Advertising Bureau predicting ad fraud could cost brands as much as $6.5 billion, it is important for marketers to understand the limits of what programmatic partners and networks can do to increase online conversions. Technology approach will alone not suffice as the fraudsters are getting smarter and rapidly changing the compute algorithms. To address this with industrywide standards, TAG (Trustworthy Accountability Group) was formed last September to certify publishers and ensure that the advertisers have the right metrics and data.
Brands can use 3rd party technologies like Google’s Spider.io, Integral Ad Science,DoubleVerify, Forensiq, ComScore to name a few for brand safe placements and delivery.
Good understanding of various types of fraud and conversion metrics patterns, policing techniques adopted by programmatic platforms, and publishers’ source of traffic, collaborating with companies and consultants that truly understand technology can help marketers to combat this problem and reach their right target segment at the right time.
Best Practices & Guidelines for Setting up Programmatic Platforms
Though the industry is driving towards consolidation of programmatic platforms, the publishers are looking for more vendor options. Some of the best practices are outlined below:
Geetha Palakkad Parameswaran has over 18 years of experience in the media and advertising industry and has an exhaustive experience in the area of ad platforms, new media ad sales, campaign management and ad analytics. She is the key business architect in designing content monetization and advertising platforms in her current stint with Wipro’s Media and Telecom business unit. She drives partner strategy to strengthen Wipro’s New Media and Advertising offerings across linear and non-linear media and her recent experiments in the media labs include development of ontology driven MDM models for marketers that shield them from data governance related issues.
She has helped clients across media segments to adopt Flexible Advertising models and in her recent engagement, she managed data and analytics product portfolio driving data monetization models for the global advertising agency group. She was also instrumental in setting up campaign operations team for a large search company in India.