As digital media becomes more integrated into daily life, the variety of platforms and channels to communicate with consumers is increasing and becoming more complex. With so many ways to reach customers at our fingertips, how can you possibly ensure we’re speaking to the right target audiences?
Digital ads have always been bought and sold by human ad buyers and sellers. However, this is might be expensive, unreliable and not the most efficient use of time. To maximise the efficacy of marketing and advertising campaigns, technology solutions must be implemented to streamline processes and help us reach our target audiences.
One way is using a demand-side platform (DSP).
What is a demand-side platform?
A DSP automates the buying of display, video, mobile and search ads for you. This is done by using algorithms to group all the rates of various display networks together on a single platform, and then serving as the control centre allowing advertisers to buy media that is sold programmatically.
The core benefit of a DSP is the combination of an omnichannel approach and a single channel. Essentially, this means that the DSP is able to pull programmatic advertising from all the platforms your target audience uses and present it to you all on a single platform.
There are benefits here for you and your customers. For you, the process of ad buying is automated, and consumers receive the content they want, however they want it. After all, consumers do not care about the platforms that are behind advertising, they just look for simplicity, convenience, seamlessness and advertising[1].
The use of a DSP can be extended further, by combining its capabilities with data, such as cookie data, CRM data and purchase data. This extends your ability carry out some serious targeting.
This can be applied in different ways, from distributing ads to all of the consumers who visit your site, or going deeper by segmenting your audiences and targeting different groups with shared interests or characteristics. Essentially this will allow you a greater ability to target different consumers.
For example, if you’re looking to sell cookies, you can use a DSP to buy an audience that like baked goods and snacks. You can then target this audience with your advertisements across the channels these customers use.
At LiveRamp, we can work with DSPs such as Trade Desk, Amobee and DataXu to maximise the effectiveness of marketers’ campaigns by mapping back data to your true target audience, delivering more relevant messaging and meaningful connections.
[1] Source: https://go.forrester.com/blogs/omnichannel-its-not-what-your-ad-tech-provider-tells-you-it-is/