Branding is the bread and butter of a business, especially in digital marketing. So, what if I tell you that branding at the correct place, correct audience and for the correct time will ensure a perennial river of revenue for your business?
If this sounds like something that you want to explore, read on to understand how these right actions by your brand take you to the right audience.
Marketers who want to advertise their products or services can choose from a variety of media channels. Individual publishers control the ad space and publish the ads within those channels.
Marketers must purchase ad space in order to place ads within the ad space owned by those publishers and reach a target audience among those publishers’ users. This transaction is facilitated by media buying platforms.
What Is Media Buying?
The process of purchasing ad space and time on digital and offline platforms such as websites, YouTube, radio, and television is known as media buying. A media buyer is also in charge of negotiating ad inventory with publishers, managing budgets, and optimizing ads to improve campaign performance.
Whether they’re watching a TV show or scrolling through a website, media buyers get brands in front of their target market. It’s not like social media where users come and find you. It’s an outbound strategy that is only effective if you have a well thought-out strategy.
If a brand wants to continue pushing their budgets as far as possible, they might consider using a media buying platform. A platform has an advantage over purchasing directly because it has a lower threshold or minimum spend for smaller advertisers, whereas purchasing directly can often entail an expensive package with many features such as home page ads, EDMs, social posts, and so on. Cutting out unnecessary spending ensures that only the most important points of contact with a brand are made.
What Is A Media Buying Platform?
A media buying platform is software that allows you to buy ad space. Do you remember supply and demand? Demand is created by marketers who want ad space, also known as ad inventory. Publishers, who have ad inventory, provide the supply.
As a result, you may have heard of two types of media buying platforms that coexist to facilitate ad inventory exchange: demand-side platforms (DSPs) and supply-side platforms (SSPs) (SSPs). These subsets of media buying platforms distinguish whether they are assisting advertisers or publishers in the transaction.
How Does Media Buying Platforms Benefit buyers?
The most obvious benefit of social media buying platforms to advertisers is that it provides the media buyer with a centralized location for discovering and securing ad space. Other advantages include:
Addressability: The most obvious advantage of media buying platforms for advertisers is that it provides a centralized location for media buyers to discover and secure ad space. Other benefits include:
Inventory Access: DSPs find inventory for buyers and do the majority of the work for them during the media buying process. Some ad exchanges and DSPs provide a diverse range of inventory across channels, whereas others specialize in specific niches or focus solely on a few types of channels. Buyers benefit from a marketplace they can explore without requiring backdoor connections in either case.
Scalability: Technology has made media purchasing more convenient and scalable. Buying and selling large amounts of ad inventory can be done seamlessly and instantly with the help of automation.
Data: Advertising online is increasingly accomplished through real-time bidding, whether purchased through an open or private marketplace. This means that you buy audiences based on the DSP’s real-time data.
Media Buying Platform Trends In Contemporary Media
Digital media buying platforms connect publishers and advertisers for more efficient ad space buying and selling. Publishers from all over the world list their ad spaces on ad buying platforms, and advertisers choose the ones that are most relevant to their advertisements. Let’s look at some of the most common trends in digital media buying platforms and how they can help you promote your brands.
Most marketers are aware that video marketing should be an important component of any modern marketing strategy. In fact, 73% of B2B marketers distribute video content via YouTube. However, when calculating media buying spend and allocations, media buyers should keep in mind that video marketing’s popularity and impact are not only stable, but growing.
Cisco has already predicted that by the end of 2022, videos will account for 82% of all web traffic, making it a clear winner in the media. This presents a significant opportunity for media buyers looking for a cost-effective way to reach their target markets to incorporate video into their media planning strategy.
Mobile Gaming Advertising
Mobile gaming is no longer just for young geeks and nerds; it is now a popular pastime for people of all ages and genders. The growing popularity and profitability of mobile gaming advertising attests to the engrossing, almost addictive nature of popular mobile games. According to the statistics, 70% of mobile gaming enthusiasts would rather forego television or social media, two popular outlets for media buyers and their ad creative, than mobile gaming.
This provides media buyers with an excellent opportunity to capitalize on a rapidly growing and relatively unknown digital advertising market by utilizing not only familiar banner ads in mobile games, but also interstitial and “reward” ads to keep their ad creative top of mind and in front of a customer’s face.
Privacy Challenges & Unified Measurement
As privacy concerns and regulation of data collection methods grow globally, the challenge of protecting privacy while maintaining accurate attribution for media buying purposes grows.
Unified measurement, a method of aggregating data and insights gleaned from attribution models across multiple channels into a single holistic measure of performance, is one solution to this problem.
As marketing technology evolves and new solutions to privacy challenges emerge, unified measurement and aggregate data are likely to become more popular as marketers seek to protect attribution integrity while adhering to privacy guidelines. Marketing Evolution’s aggregate data program can assist any marketer looking to modernize their data collection.
There is so much more to learn about programmatic advertising company and media buying, but for now, you know the fundamentals! Since not all media buying platforms are the same, it’s critical to vet potential partners, learn about their inventory, and evaluate their targeting capabilities, data access, and vertical expertise. Plan your media campaigns while also simplifying the process with a few clicks.
When purchasing media, no ad placement is by chance. As you begin, there will be some trial and error, and the optimization process will continue throughout the campaign. However, having a strategy in place and an easy-to-use platform for tracking performance will result in effective ads that meet your marketing objectives.
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