The consumer journey today is not what it was five years ago. Today’s fast-changing digital landscape demands solutions that are modern, innovative, and future-ready. Advertising agencies have to embrace the latest technologies like analytics, machine learning, and intelligent automation to optimize performance across the entire path to purchase and win more consumers for their clients.
If you’re looking to drive incredible outcomes for your client’s campaigns, chances are, you will need to leverage ad-trade platforms that offer full control over your client’s campaigns. Such platforms help you unearth distinct audience insights and drive effective omnichannel campaigns across all customer touchpoints.
Here are 5 smart ways for agencies to drive incredible outcomes for your clients’ campaigns using programmatic advertising:
Reach more customers
With so many platforms available for advertising today, you need to ensure you leverage the most effective ones. Spatial analytics allows you to add designated locations to your clients’ ads, so no money is wasted on clicks from customers outside the specified location. Geo-coding and geo-targeting allow for better audience targeting and re-targeting, enabling you to develop ads specific to consumer behavior and intentions.
With precise geo-coded points for millions of homes, businesses, retail stores, banks, restaurants, street corners, parks and more, you can create strategic ad programs when someone enters a geo-fence. Such location intelligence can help you determine the most effective ad space, get information on the best way to craft messaging across each channel, and determine the optimum way to integrate your marketing initiatives to ensure all ad campaigns support each other.
Enable right purchasing decisions
With millions of products available in the market today, acquiring and retaining consumers is a challenge. In addition, the cognitive load that consumers carry is immense. They often have to make complex decisions and ensure they purchase the product that best fits their needs. With heuristics and modeling, you can help reduce that load and help them make the right purchasing decisions – thus increasing your revenue. Predictive heuristics models allow you to optimize investments and increase conversions. With the help of programmatic advertising you can understand customers’ behaviors better and predict what offers will be best received by them, you can derive the maximum bang from your ad spend.
Using machine learning and advanced analytics, you can identify which heuristics apply best to a product, get the best insight into consumer behavior, and reinforce their choice. You can then use these insights to predict their decision-making process across the entire purchase path and optimize channel value for increased revenue.
Enable custom bidding
Given that you have unique business goals, unique audiences to cater to, and unique paths to purchase to influence, using generic bidding strategies makes no business sense. With advanced real-time bidding (RTB) algorithms, you can get complete control, flexibility, and transparency with your own bids – you can write your own algorithms and implement custom decisions that best fit the needs of your clients.
Customized bidding algorithms can allow you to align bidding strategies to your own KPIs and goals in a highly cost-effective way. You can manage and optimize ads from multiple ad-networks and grant user access to a multitude of different networks. As RTB is triggered by the arrival of a potential consumer, the value of remnant inventory is increased. You can create and launch advertising campaigns, prioritize networks and allocate percentages of unsold inventory for improved returns.
Build lookalike audiences
If your clients are struggling to improve conversions and build scale, lookalike modeling can help them test-market to similar audiences to eventually improve conversions.Using programmatic technology, you can find customers exhibiting similar behavior as your own customers and target them with highly personalized and curated campaigns to validate your marketing assumptions. By extending the audience into third-party sites, you can target users who have previously exhibited certain behaviors with an ad served on another publisher’s site.
Such insight can allow you to find more consumers, at scale, who look and act like your most valuable customers and custom-build lookalike audiences for your existing and future campaigns. You can leverage proprietary audience data, build custom audiences to optimize your ad investments, and use campaign metrics, personas, and attribution to build lookalike audiences for maximum impact.
Reduce ad fraud
Although channel proliferation and competition have caused ad spend to reach an all-time high, it is also leading to an unprecedented increase in ad fraud. With advertisers losing $51 million a day to ad fraud, now is the time to embrace modern technology to reduce the chances of fraud. The combined power of data and technology can help you to leverage best-in-class analytics algorithms and geocoding to circumvent the ad fraud challenge and enhance your advertising platforms’ ability to target audiences meaningfully.
You can get visibility into conversions, and closely monitor, track, and record ad impressions. Programmatic technology can allow you to detect fraudulent ad activities ahead of time and also compare current data with historical data to understand how fraud is being propagated. Based on this insight, you can implement stronger ad fraud prevention practices that strengthen core campaigns and drive greater impact for your clients.
Set new standards
With the advertising landscape getting increasingly more competitive, it’s a challenging time for agencies. However, programmatic technology combined with the power of machine learning and analytics can allow you to discover unique insights into consumer behavior and optimize performance across the entire value chain. Fast and real-time visibility into the purchasing journey can allow you to closely track conversions and build ads that meet your campaign goals more quickly and effectively. By leveraging programmatic technology, you can create magical ad solutions for your clients, and set new benchmarks in advertising effectiveness.