Optimize your Marketing Budgets by letting algorithms control your ad budgets and ad spends!
The disruption of business models through the advancement of digital technology benefitted the marketing industry the most. The one to many marketing model worked well in the past. Back then, the audience was profiled based on a qualification criteria and a buyer persona was created to deliver or communicate the desired marketing message to the target audience at a scale.
Cut to 2019, it’s a beautiful Friday evening in London and the bars in and around Leicester square are beginning to fill. If you have’nt been there yet, Leicester square on a Friday evening is beautiful. A place where Europe’s biggest sweet shop, large enough to house over 100 double decker buses, sits alongside the largest Lego® store on the planet. The square is soon buzzing with live demographics considering its proximity to London’s busiest and most popular Fashion Houses on Regent Street and it’s connectivity with Oxford Street on one side and so also the landmark Trafalgar square on the other. It’s primetime, super busy and it’s only getting busier. The eye candy of the evening is right in front of you and without any doubt this is the largest single digital screen in Europe. The Piccadilly Lights catch your attention, imagination and then your senses and in that order this evening. It’s been an unmissable sight for an estimated 100 million people who pass Piccadilly Circus everyday. Cut that number by half if you want and still, it’s a legendary sight.
This iconic landmark in London also happens to be one of the most sought after advertising spaces in the world. It’s a single state-of-the-art 4K LED digital screen with a live technology hub that allows the screen to react to certain external factors, such as the weather or temperature and people. This feature enables brands to display creative and innovative content, such as weather-appropriate clothing. The display screen uses a camera sensor to estimate your age and gender in order to build automatic reports about the audience or to trigger more relevant advertising and content. A prime advertising venue, the LED screen rotates between six full-motion sections offering a patchwork of ad space, but the screen can also be taken over in its entirety. Interactive content is fed through a high-speed Wi-Fi network, with live video streaming and real-time updates and social media feeds. The technology hub allows brands to be more agile and helps them to interact directly with their buyers in real-time through personalized content. Call it digital proliferation or innovation in the experience economy, a new world is upon us. Advertisers can now spend their advertising money based on insights and leave it to algorithms to decide on ad spaces and ad spends. Marketing 360 has finally arrived!
Marketing Technologies are now becoming more agile than ever with the growth of Programmatic Marketing Platforms. Programmatic Marketing is automated bidding on advertising inventory in real time, for the opportunity to show an ad to a specific customer, in a specific context.
When anyone clicks on a web page that has advertising space that is configured for programmatic advertising, the publisher of the page puts up an ad impression for auction in an ad marketplace. The ad marketplace then runs an auction among advertisers interested in displaying an ad to that specific customer that just click on the page. There may be many advertisers competing in this auction, and whichever one ultimately is willing to bid the most wins the auction and then their ad is displayed to the customer when the page loads.
According to Forrester, programmatic will account for the majority of all digital advertising spending over the next few years. Programmatic spend now equates to 79% of all UK digital ad spend, as reported by MarketingTech. Coca-Cola, Hyundai, Samsung, e-bay, they are all there and the list goes on. In a world where products and the features associated with them considered as a commodity, it is experiences that matter. As Brands continue to lure more buyers, there is little doubt that Programmatic Advertising will provide more compelling experiences about your Brands to inspire your audience with the most relevant information. Responsive, feature rich advertising displays are ushering us into a whole new era of Marketing 360 but are all Brand Marketers ready for the push…