#5 Mistakes to Avoid in Programmatic Advertising
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A digital Marketing campaign powered by Programmatic Advertising (PA) is best to leverage the brand on all interactive platforms. No doubt PA ensures high returns from an ad campaign and is effective to save money, but to take maximum advantage of this neoteric expedient; a marketer must strategize the things very smartly and in a calculative manner.
Simply, adoption of an innovative technology doesn’t reap desired results unless it’s supported by proper execution. Hurriedness and lack of experience often led to ineffective programmatic; hence, the following are the mistakes that shouldn’t be made by advertisers to optimise a campaign.
- Ignoring the Demand-side Platform
Demand-side platform (DSP) enables advertisers to acquire relevant data and information about the demographic factors and behavior of the people in a particular geographical location.
Besides, the technology helps in choosing the right bid and broadcasting the advertisement in the real time over a vast range of exchanges through a single digital platform. Instead of keywords, DSP works on behavioral and demographic data to select a very precise audience for the ad in the real time. Without DSP, an advertiser cannot buy the right bid and cannot persuade the customer in real time.
- Lack of Clarity in Defining the Key Performance Indicators (KPIs)
A clear understanding of the KPIs, based on a right mix of tactics is the must-have prerequisite for successful digital campaigns. The programmatic buyer should be very clear about the objectives of the campaign and choosing the right analytical tools to evaluate the performance of a campaign on preset objectives (KPIs).
A mismatch between KPIs and performance analysis tools can lead to a lot of confusion while measuring the real performance of a programmatic enabled campaign. Also, without clear KPIs, optimization is impossible for campaign managers. So, the advertiser should be very clear about the KPIs of an RTB campaign.
- Not Hiring an Expert Agency or Team
Digital marketing is a very diversified field and involves activities of definite specialization, A man army cannot achieve all the targets solely. Rather, digital marketing requires a battalion of experts, champions in their respective domains.
Furthermore, being highly complex in features and functions, Programmatic Advertising demands a full-fledged team to perform various tasks in real time and leaving no scope for errors.
Usually, advertisers believe in running and controlling the campaign by themselves, without possessing the required knowledge, skills, and experience. So, to harvest maximum benefits from Programmatic Advertising, the advertiser must consider recruiting a team of qualified professionals or think about hiring a reputed agency.
- Lack of Interest in First-party Data
Data is the real driver of digital advertising and in programmatic it is the First-party Data that is essential to enhance the effectiveness of a campaign. First-party data involves all the basic information of the target audience; from their demographic details to the web behavior and purchase patterns.
Businesses collect First-party data through online and offline communications and this data can be used very strategically to make the programmatic advertising more target-oriented. However, advertisers who have inadequate First-party data face hardly impress the audience with their ad campaigns.
- Rigidity in Channel Selection
The virtual world is growing more speedily than the physical world, and many new channels are offering tremendous opportunities to boost ad campaigns using video, mobile, social media, and web displays.
Restricting to any one particular channel and avoiding the others is not a smart way to programmatic, rather than, the advertiser should run the campaign across channels. This way, the advertiser can come to know that which channel or combination is more effective and should be focused further.
Many advertisers fail to get maximum benefits from programmatic advertising due to the above-mentioned factors. If they avoid those mistakes, then increased conversation rate along with decreased CPA is guaranteed, thus a more receptive and anticipated approach is the key to success in programmatic.