Ranwell productions is a new Programmatic Advertising agency launching in Miami, Florida. They’re here to help businesses create relevant advertisements for their target audience and broadcast them to the right people in order to increase conversion rates.
The programmatic advertising platform works on real time data gathered from mobile devices and internet cookies to determine a potential customer’s interests and hobbies. The platform will then make a decision on which advertising space would be the most valuable for use to each business based on what they sell.
It cuts out lots of marketing research, costs less money and gives you a guaranteed ROI.
What Is Programmatic Advertising?
Programmatic advertising is quickly becoming the most popular form of advertising for businesses throughout Miami with the help of Ranwell Productions.
The issue with traditional advertising is that it is randomized. This means that you might create the world’s best advert for a product, but hardly anyone who would actually be interested in purchasing actually gets to see it. However, it will still cost a lot of money based on the traffic that your advert gets.
With programmatic advertising, you are able to set your requirements via a demand side platform. This gives you the opportunity to target people of a certain age, sex, in a specific location and based on their hobbies and interests. The platform will then flag up any positions that may be beneficial to reach these types of people.
In this way, your advert will reach less people, meaning that it costs less money to advertise, but those people that it reaches are more likely to be interested in your product, meaning you’ll get a better return on your investment for spending less money.
The supply side platform also allows sellers of ad space to push out their spaces to specific businesses that might be interested in advertising products that fit with the audience that usually visits them.
This method of marketing removes the need for negotiation between businesses and marketing organizations and still benefits both parties.
Once an ad space has been selected, the business will enter a real time bidding platform to place a bid on the space they’re interested in. Similar businesses will also bid – highest bidder wins. This allows businesses to duck out if the price gets a little too high, so there’s no overspend, but also gives the seller a fair price on their spaces as the more valuable spaces will naturally go for a higher price.
How Programmatic Advertising Works In Miami
Programmatic Advertising works by using internet cookies and location data to determine where a target audience is, what their hobbies are and what type of products they’re likely to be interested in throughout the Miami area. From this, customer segmentation is developed, so certain spaces will be deemed more beneficial for specific types of products based on the types of people that typically view them.
For businesses in Miami, this is amazing news. Ranwell Productions agency can now help businesses to use a demand side platform. This allows them to place their requirements for a valuable target audience and discover the best possible spaces to advertise automatically, with no in-depth research required.
If you own a store in Miami and you’d like to direct people to come in and see your products, you can also tailor your ad to be displayed specifically in the Miami area rather than nationwide. This increases your chances of pulling in valuable customers, as they’re right there in the vicinity.
Alternatively, if you have an online store and want to broadcast nationwide to the people who might be interested, then you can do that too.
What Programmatic Advertising Can Do For Your Miami Based Business
Programmatic Advertising in Miami is proven to increase profits and ROI and is becoming the most sought-after form of advertising out there for many businesses – large or small.
Finding Your Target Audience
Your products and services should give you a vague idea of the types of people that you want to capture as part of your audience. If you’re advertising a new software system, then working professional might be your target audience, whereas you might be advertising camping equipment for people who love the outdoors.
Whatever your product is, there will be a select audience of people who are automatically interested. All you need to do is find out how they view advertisements. You can do this by exploring your programmatic advertising platform to find ad spaces that reach people who have these things in common.
This data is collected from their internet search cookies and location data. You’ll want to narrow down your advert so that the most people who are interested in what you have to offer view in a single ad placement. This is where you have the chance of the highest conversion and therefore, a higher return on your investment.
To pay a little less for advertisements, you could focus on an area that has less traffic, but still captures some relevant people. This helps you to gain a little traction. Once you’ve started to generate some interest and you’re making some money, you can then place your profits back into your marketing campaign to broaden the scope by aiming for more popular, and therefore more valuable spaces with even more relevant people.
Saving Time And Resource
Marketing is incredibly time-consuming and expensive. You’ll normally need a whole team to research the best ad spots and create relevant advertisements that might be eye-catching for your audience. Despite the hassle and cost, it’s an essential part of any growing business.
Traditionally, a full marketing department would work to design ads and negotiate ad spaces with the sellers to try to secure the highest return on investment.
However, programmatic advertising removes this whole process. Because all the analytics are right there in front of you, there’s no need for a research team at all, anyone can decide on the most effective ad space. You’re also able to bid for the space you decide on, meaning you’ll always get a fair price for the spot you choose, as you’ll be bidding against other businesses and paying what they’re willing to pay.
And, the best thing is, after you’ve chosen the space you’d like to use, you can report on your own ads, meaning you can learn as you go and learn from your own mistakes and wins. As you gain experience, one person can replace a whole marketing department on their own, saving money, time and resource.
Real-time bidding is the most cost-effective way to purchase advertising space. The spaces come with analytics to show what types of people will view them, giving any potential buyers a completely accurate picture. This means that businesses know exactly what they’re paying for and don’t go beyond their budget.
In this case, the more you’re willing to invest, the more valuable the ad space will be that you win. This usually means more traffic that’s targeted. However, if you only have a small amount to spend, you’ll still be able to pull in a smaller audience of people who are actually interested in what you have to offer. Because the ads are targeted, this could still result a sizable return on investment.
The spaces with more traffic will cost more money, but the more you spend, the more conversion you’ll achieve, as you’re simply reaching out to more and more people who are interested in your products with no wasted random ads reaching people who will simply click away or increase the bounce rate.
Beneficial For The Seller
Programmatic Advertising works for the business that buys the ad space and also the seller of the space. This is because marketing space sellers usually have to put a lot of time and effort into selling their space and negotiating a great price. As there’s often no data to back up the success, there’s very little to go on in terms of what constitutes a fair price. However, with programmatic advertising
the seller just loads their space onto the platform alongside the data and analytics regarding its past successes.
Businesses will then bid on the space themselves. The more valuable spaces in terms of traffic will automatically go for a higher price because there’s more demand for them, so the seller will get more money based on the space’s worth without any extra effort.
Frequently Asked Questions Regarding Programmatic Advertising
How Can I Target Specific Audiences Using Programmatic Advertising?
Programmatic Advertising downloads data from potential customers via their mobile devices or anything connected to a radio transmission. You’ll then know where your customers are, what their viewing habits are and what interests them. This allows you to tailor ad advert specifically to the people you want to convert and gives you access to knowledge of where they’ll actually be and which platforms they use so you can put your advert in front of them easily.
How Can I Measure My Programmatic Advertising Results?
Programmatic Advertising uses real-time dashboards which update based on the amount of traffic and clicks that each advert sees. This is a great way to track if your ad is working. If you’re not getting much interest, then you know something needs to change. The great thing is that you can also see how much traffic other ad spaces get, so if you need to switch and bid on a different space, it can all be done remotely. No need for negotiations, re-editing or re-printing.
How Can Programmatic Advertising Extend My Reach?
Programmatic Advertising can reach a variety of ad spaces from computers and TV to radio and even digital billboards. You can target just the people in the local area of Miami if you have a business that you need to drive people into a physical premises. However, if you have an online offering, you can target people with similar interests across the globe, increasing your reach and conversion without having to spend money on wasted prospects.
Does Programmatic Advertising Cost a Lot?
That’s down to you. Programmatic Advertising can cost as little as you want it to. If you want to really tailor to your target audience, then less people will see your ad. However, this doesn’t necessarily mean that you won’t get a great conversion rate. If you find the perfect ad space that’s tailored to your target audience, then there won’t be too many other businesses bidding on it. Therefore, you’ll spend less money for a decent conversion rate.
Let Us Talk If You Are Interested
Programmatic advertising is an amazing way to create a new future for your business using an alternative marketing method. If you’re interested in how these massive changes could both save you money and increase your return on investment, then get in touch with Ranwell Productions today via the button below to book an appointment.
The dedicated team will discuss your future goals and plan out a marketing strategy that’s completely tailored to your business.
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