'Programmatic Advertising Will Be The Next Big Thing In India'
Online advertising is evolving fast to suit changing consumer tastes and preferences. Programmatic advertising is an important format, which has changed the face of digital advertising, but a few publishers are still not aware of this technology.
In the simplest terms, programmatic advertising optimizes demand and supply by targeting specific audiences and demographics. It has reportedly gained popularity in other countries and it surely has a growth potential in India.
In a chat with the Entrepreneur India, Avinash Tharani, Vice-President (Sales) at Sociomantic, spoke about how programmatic advertising was going to become the next big thing. The company provides full-funnel business solutions on a big platform, using programmatic display advertising solutions for online, mobile and social.
Programmatic Advertising Is All About Right Place, Right Time And Right Message
"Ten years ago people went to Yahoo to search for anything and everything under the sun. It was the most popular search engine. But it faced a weird problem. Big banner ads of insurance or mutual funds would pop up on the browser now and then, almost becoming eyesores for viewers. To stop this, programmatic advertising is introduced, which markets a product or service in the right place, at the right time with the right message," Tharani explained.
Tharani further talked about multiple challenges that programmatic advertising faces in today's world.
"Today everyone feels programmatic advertising is same as a creative deck and success of a display campaign will be attributed to its creativity. Also, people think that programmatic advertising has rendered these ads less creative," he said.
"But, I feel a relationship can only thrive if it's a two-way sort of communication. It works in a particular fashion. If you as a user went to a particular website and saw a particular product and if my company is able to present an image of that product to you through a particular banner, then it's worth the effort. Of course, it would be a better practice compared the previous one," he said.
Programmatic Advertising Is Going To Be The Next Big Thing
Tharani claimed that programmatic advertising was going to be the next big thing and it had already arrived. "It's just that the change should get wide acceptance and apprehensions should be cleared," he said.
"One such myth is programmatic advertising is death of creativity. It's about how data and the creativity can be put together in one particular place through the right user giving the right message. Hence if it is giving the right message at the right time to the right user, it will get you more engagement even if it is something I do not want to look at," he added.
In India, Sociomantic works with most of the e-commerce platforms like Myntra, Koovs, Jabong, Pepperfry, Nykaa and Ebay. One of the company's key roles is getting the customer back to their client's website. The other role involves getting new clients.
"We have started working with BFSI lately. We are working with HDFC Life, Yes bank, very close to working with ICICI mutual funds," he added.