Automation has had a profound impact on the digital advertising industry. The emergence of biddable media has specifically transformed the way advertisements are being purchased.
Definition of Biddable Media: Digital media that may be purchased through auction platforms, predominately in real-time.
Biddable media uses data to target audiences at the right time and within the proper context on a specific platform to improve campaign effectiveness. Historically, media has been purchased in bulk following contracts between media companies and agencies. Now, the process of buying media is virtually instantaneous. Bids are based on live data in terms of what buyers are willing to spend. If a bid is won, then a buyer’s ad will be posted on the publisher’s site automatically. An appealing aspect of biddable media is that purchasing can be optimized due to the success or failure of an advertisement. If a campaign is performing highly, a greater bid may be placed to gain even more exposure for the advertisement.
Creative content marketing combined with a biddable approach is one of the best ways to reach out to new audiences. Creative content marketing can compliment your biddable approach in that it increases the chances that your audience will complete an action such as filling out their personal contact information or purchasing a product/service.
A number of online marketing channels offer biddable media. Paid search advertising was the first major form of biddable media. Paid search advertising may also be referred to as search engine marketing or pay-per-click advertising. For example, Google Adwords allows companies to bid on keywords. Through social media PPC, each social platform offers you different biddable options to help you reach a specific audience. Majority of social networks permit you to target based off gender, location, and age. Furthermore, video has become one the most consumed medium online. Twitter, YouTube, and Facebook all allow you to engage with customers through biddable media platforms. Owned by Google, YouTube has a bidding software due to its TrueView Platform. YouTube is the second largest search engine in the world; therefore, video sharing through this channel is an excellent way to engage with customers and share content.
Although paid search is still the most popular form of biddable media, real-time bidding is also gaining traction. Real-time bidding is the purchasing and selling of online ad impressions through real-time auctions. The automated systems and algorithms add efficiency to this buying and selling process. Display has become an increasingly popular form of biddable media due to demand-site platforms and by using the same conversion tracking that paid search advertising utilizes.
Additionally, programmatic TV is another rising trend. This feature allows advertisers to bid on live video inventory based on audience data collected through cookies, device ID, and IP addresses.
Biddable media can catapult your growth and is proving to be the cornerstone of performance marketing. These channels provide a quick and efficient way to boost brand awareness to large audiences. Knowledge surrounding biddable media and how to use it effectively is important as advertising continue to shift towards automation.
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