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Reaching high net worth individuals through programmatic

The Drum 15 Oct 2020 12:06
By Rumble Romagnoli-15 October 2020 13:06pm

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What is programmatic advertising?

What is programmatic advertising? Simply put, programmatic advertising is the automated buying and selling of digital advertising space. It is most widely used for digital display, but is becoming an increasingly popular way to buy video/television space, and is even finding its way into the digital OOH (out-of-home) arena, where traditional billboards are becoming digitised and targeted. Essentially, programmatic allows advertisers to target premium inventory at a fraction of the cost.

Delving deeper, we can see that there is far more to it than that. It’s not something that’s going away either – in fact, Zenith (a Publicis media agency) estimates that $98bn will be spent on programmatic advertising in 2020 alone, accounting for a massive 68% of total annual media advertising spend.

With access to hundreds of thousands of data segments from almost 1,000 data providers and the ability to mix and match these audiences, programmatic targeting options mean you can get incredibly granular with not only where your ads are served, but also who they are served to. This is in addition to complex device information targeting – with programmatic, advertisers are able to specify everything from make and model, to operating system and browser, to service provider and connection speed. The combination of targeting available means that you are not only targeting exactly who you want to target, but are also hugely decreasing media wastage.

Step 1: Define your personas

Step 2: Match your personas to data segments

Step 3: Decide where to place your ads

The second way is to run a whitelist campaign. This way means you do not have any specific deals with publishers or any guarantee of impressions. However, inventory bought this way typically carries a lower CPM (cost per thousand impressions) than that bought via a PMP.

Step 4: Choose your ad creative

Realistically, you’re going to want to be using HTML5 banners for all your display advertising placements. These banners allow you to make your luxury brand look as good as it should on any webpage, but also have the functionality to allow you to do that little bit extra with your creative strategy. For example, you can dynamically serve creative based on event signals such as weather changes or the results of sporting events (or even things like goals scored in a match), or signals much more specific to your industry or business, like product prices or product releases.

Another way you can use sequencing is to start with a generic creative, then once a user has visited a particular page/product/category on site you can serve a more specific ad to them, highlighting exactly what they have shown an interest in. A great example of this in action is Marriott Hotels’ ALP (audience-led planning) campaign, where users who had never been exposed to any Marriott content were served a generic ad, then as users engaged with particular content or ads they’d be served ads based on the hotels or events most relevant to them.

Why brand safety is important in programmatic advertising

This is a massive, although declining, problem, which all major ad-tech vendors are aware of, and any reputable DSP will have brand safety and verification measures in place. However, the ad fraud industry is constantly evolving. My recommendation to ensure you are 100% safe is to work with a brand safety partner such as DoubleVerify, which specialises in brand safety, verification and viewability.

It’s important to remember that a digital display campaign is primarily focused on targeting users at the top of the funnel and shouldn’t be seen as a standalone marketing solution. Optimum performance will be seen when your display advertising is working alongside your other marketing channels, particularly lower funnel channels like search engine marketing. The platform we use here at Relevance, DV360, lends itself to this approach as it offers a direct integration with the Google Ads platform, meaning that you can not only feed your search campaigns but also directly target audiences who have seen or clicked your search ads with a relevant display ad.

The programmatic ecosystem is a complicated place, there’s no denying that. With more and more advertisers dedicating increased shares of their media budgets to it, the technology will only grow, and inevitably programmatic targeting options will become more complex. And programmatic advertising is not without its dangers. It’s very easy to throw away a huge chunk of your budget on a poorly executed programmatic campaign – the important thing is that you work with a partner who knows the technology inside out but also fully understands where to find a high-net-worth audience and how to get your message in front of them, but ultimately, how to do these things in a way that is going to captivate this audience.

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