Advertising and marketing are getting cut-throat competitive in the digital age when all businesses are forced to strive to grab audience attention. Placing the right ads in front of the right audience, at a time when conversion can be driven, may have become the key to successful advertising.
Ad trade platforms reduce inefficiency in the traditional trading model. They make it possible for companies to bid on media from a variety of publishers in a more democratic way in real-time. This kind of programmatic advertising can help you benefit from advertising even if you can’t spend a massive amount.
But, for digital media ad trading to work for you, your ad trade solution must have some specific features and values.
Let’s see what these critical features are and what they might mean for your advertising efficiency.
Data Analytics and Insights Generation
Which ads are working? Which channels? How often are you able to convert through the ads placed on various programmatic channels? Using an ad trade platform and with the right data analyzed and harnessed into insights, you can get a glimpse of what’s working and what’s not- to course-correct your digital media and marketing strategy.
It helps to use machine learning, statistical, and mathematical techniques to build models that help you win audience attention in a better, smarter, and more cost-effective way. Data science and analytics can help create recommendation engines that define better campaign goals and improve the quality of your audience.
Not only that, but ad trade platform inbuilt spatial analytics can also be a game-changer. Spatial analytics helps you geo-code various locations over a geographical area. Then, you can customize and target digital media when someone enters a specific geo-fence- opening up a whole new world of opportunities for media placement and advertising.
Cost Efficiency
With heuristics and modeling, you can take complete control over the advertising process. Built-in models and heuristics help optimize investments and increase conversions. The latest technology and techniques can help you understand buyer behavior and target customized ads that they might respond to.
Additionally, such techniques give you insights into the customer’s decision-making process, so that you can understand what triggers them to buy and use that as a tool for driving conversions.
Predictive planning can aid in building, delivering, and analyzing media plans to reach campaign goals faster and more efficiently. With deeper insights into the customer journey and their pain and passion points, you can understand exactly what it takes to drive conversions. This better understanding leads to more cost-effective advertising- maximizing ROI from media and ads.
Reports and Dashboards
Every business has its own unique objectives, target market, channels, and KPIs. Therefore, it makes sense to have custom-reporting capabilities as part of your ad trade platform. Vanilla media and marketing have ceased to deliver value.
This is why you need custom reports and dashboards to learn what you want to know about your campaigns- not what the solution implementation wants you to track. Get more control and flexibility of your ad trade desk with customized reports and gain more visibility into what matters most to you and your campaigns.
To make digital media and advertising work for your business, you need to focus on the right metrics to know when to change direction toward something else. Custom reports give you this agility. Moreover, with the right ad trade platform, you should be able to zero in on data and get a granular understanding of your campaign results. Compare performance across a variety of parameters, devise a strategy through continuous improvement, and get real-time visibility into ongoing campaigns and plans.
Audience Segmentation and Targeting
Leverage behavioral, demographic, and trigger data to segment customers and target each segment with personalized ads and media. Your ad trade platform should help you leverage clean customer data so that you can focus on planning and executing targeted, focused, multi-channel campaigns driven by a deep understanding of your ideal buyers.
Not only that, but your ad trade desk should also allow you to target users who have exhibited a certain kind of behavior (which matches your audience profile) in response to an ad served on a different publisher’s site. Build reach and scale into your outreach campaigns by using third-party data.
Moreover, the ideal ad trade solution will also enable you to appeal to lookalike audiences. By carefully analyzing your own customer data, you can prospect similar buyers using lookalike modeling. Naturally, what appeals to your customers would attract these prospects. Widen the scope of your targeted ads -intelligently.
Audience Building and Journey Tracking
To build an even wider audience base, convert window-shoppers into customers. Keep a tab on people who visit your site or stay on an advertisement long enough, but don’t take action. These window-shoppers can be re-targeted when you are using an advanced ad trade platform.
Through strategic re-targeting, you can bring these prospects back into the journey and create personalized messaging focused on their interests and behavior. Track buyer journeys and know when you can drive maximum conversions.
When you get a holistic view of the customer through information about their transactions, browsing history, and interactions online, Ad trade solutions help you to identify opportunities and get them to make a decision faster. Appealing to the right audience at the right time is a critical factor in optimizing conversions through ad exchanges.
Use a real-time bidding platform and an automated bidding process to buy and sell digital advertising inventory in real-time. An advanced, data-driven ad trade platform will let you leverage not only all of these capabilities but more.
The right platform should allow you to create a winning digital strategy that delivers real impact..
