Ranwell productions is excited to introduce the brand-new world of Programmatic Advertising to Orlando, Florida. Programmatic advertising can help businesses to segment and target their customer bases to reach the most relevant customers and understand their interests.
A programmatic advertising platform works on real time data and uses internet cookies to help determine where people are, what they’re searching for and what they want to see, to allow businesses to offer their products and services to people who are guaranteed to take an interest.
The more relevant people you capture as part of an advert, the more likely they are to convert to make a purchase from your business. This increases profits and gives you a better return on your marketing investment.
What is Programmatic Advertising?
Programmatic advertising is the most popular form of marketing used today. It allows businesses to place their adverts in front of interested parties more than ever before.
The problem with traditional advertising methods is that they are often randomized. Meaning they may reach people that are interested in the product. However, they may also reach a ton of people that aren’t. The idea of programmatic advertising is that you can track the habits and interests of people using their online data. This allows businesses to tailor advertising and place adverts on platforms that are visible to the types of people that will be interested in the product, so the probability of conversion is higher.
If a company sells baby clothes, they can find potential customers that have been searching online for baby items. It’s then possible to track their habits and movements and place an advertisement in the right ad space that they’re likely to see at a time when they’re most likely to access it.
To do this, businesses use a Demand Side Platform (DSP), to place in their requirements regarding their target audience. The platform will then offer up spaces that are most likely to attract those particular types of people.
You’ll then place a bid on the real-time bidding (RTB) system against other companies who’d like that same space. The highest bidder will win the space. The beauty of this is that you can spend as much or as little as possible depending on your budget. Smaller companies can aim for less valuable add space (which is determined by its popularity). But will still reach a relevant audience in order to begin the scale-up process.
Similarly, sellers of ad space can push out their spare spaces to businesses based on their audiences through the Supply Side Platform (SSP), so they can sell off all of their ad space and will still get a higher price for the space if it’s more popular, meaning they aren’t missing out on profits either.
How Programmatic Advertising Works in Orlando
Programmatic Advertising uses internet cookies and other data sources to understand the hobbies and interests of the residents within the Orlando area. This happens when participants select to share their cookie data on web pages when they’re browsing online.
For businesses in Orlando, this is amazing news, as each click allows DSPs to gather more data regarding the residents in the local area and beyond and creates a target demographic for each ad space to show which types of business will have the most conversion success in each position.
The more relevant people you attract with your advert, the more people will visit your stores, showrooms or websites and the more profit you’ll make, so it’s worth understanding the exact target audience and where they’ll be in order to move forward.
What Programmatic Advertising Can Do For Your Orlando Based Business
Programmatic Advertising in Orlando can work wonders for your profits and conversion rate and is now seen as one of the most beneficial types of advertising out there for any business.
Finding Your Target Audience
Based on the products or services that you have on offer; you should have a vague idea of what sorts of things your target audience are interested in. Real-time data on programmatic advertising platforms allows you to find the types of people that will be interested in what you have to offer and generates suggested ad placements based on when those people are accessing specific ad spaces across the internet, TV or radio, or pretty much any platform that requires a radio signal to perform.
You can also find spaces that are targeted at your local area if your aim is to pull people into your store. The platform allows you to only push your ad within a specific radius. This means you aren’t wasting time and money advertising to people who won’t be interested or make a purchase.
Alternatively, if you brand is nationwide, you can choose to open up your ad to a wider target audience that may purchase online. The beauty of programmatic advertising is that you can reach out to any ad space around the world remotely, making marketing faster and easier than ever before, while also bringing in more customers.
Saving Time and Resources
Marketing is one of the most expensive and time-consuming processes within any business, but it’s something that’s absolutely necessary to aid growth and success. Traditionally, a full marketing department would be tasked with researching and filling ad space based on guesswork and trial and error, which could be costly and take up a whole department in regard to resource.
Now, programmatic advertising pretty much does the job for you. Anyone without a marketing background can see at a glance which spaces will be best for advertising their products and can bid on them remotely. This also eliminates the time taken for negotiation meetings to purchase advertising space too, as the real-time bidding platform creates a fair method for all businesses to find the perfect ad position.
Real-time bidding works really well for all businesses as it means the no one ever goes beyond their set budget, so there’s a guaranteed return on investment. The more you invest, the more you can afford when it comes to advertising space, which means you’ll see more traffic.
The spaces that see more traffic are likely to cost more money, which is normal, but you’ll hopefully see more conversion from these. However, even less valuable ad spaces will get the right types of traffic to them because you’ve narrowed down your target demographic to find the most beneficial spaces. This means that even spaces with less traffic are likely to have some success and won’t have as much competition, allowing smaller businesses to still reach the people they need to.
Traditional advertising methods could still reach fewer people, but if they aren’t the right types of people for your products, then the business could waste money in non-targeted advertising and gain nothing from it.
If a space has too much competition, then there’s no contractual requirement to keep bidding, and people can simply pull out whenever they feel they need to, so there’s no overspend.
Beneficial for the Seller
Programmatic Advertising is a great method to benefit both the buyer and seller of the advertising space. As the seller, traditional methods would require a negotiation call or meeting to discuss the amount that the space is worth. With no stats to compare it to, then it’s difficult to prove how much ad space is worth. However, with real-time bidding, a space sells itself with no need for long drawn-out negotiations.
The space will sell for a higher price depending on the traffic it sees. So, naturally, the more interest a space gets due to its previous success rates, the higher the price will be, so the more valuable space will generate a fair price for the seller, with no extra effort at all.
Frequently Asked Questions Regarding Programmatic Advertising
How Can I Target Specific Audiences Using Programmatic Advertising?
Programmatic Advertising pulls data from each potential customer’s devices to determine where they are likely to be, when they access certain platforms and what their hobbies and interests are. This allows a buyer of advertising space to purchase space that they know their target audience will see based on their habits.
How Can I Measure My Programmatic Advertising Results?
Real-time dashboards are constantly updating based on the amount of traffic and clicks that each advert sees. Programmatic Advertising is the prime way to track issues with your ad, allowing you to make changes remotely to pull in more traffic if something isn’t working. You can also see where your customers are visiting before and after your ads and determine whether a different ad space is more beneficial for you, or if something about your current ad is actually increasing your bounce rate.
How Can Programmatic Advertising Extend My Reach?
Programmatic Advertising works for all radio transmittable devices including TV, radio, and the internet. This allows businesses unlimited access to all audiences across the globe and doesn’t limit people to localised advertising. Traditional leaflets and posters may only reach local people, but with most businesses expanding to online shopping, this is no longer going to generate enough traffic. Businesses in Orlando are now able to access a global market to generate more online traffic than ever before.
Does Programmatic Advertising Cost A Lot?
You can spend as much or as little as you like on Programmatic Advertising. It’s a platform that allows you to gradually build up your marketing spend over time and starting small will still work in your favor. If you’re a small business, go for the lower traffic ad spaces which have less competition, meaning you won’t have to pay out as much. However, this doesn’t mean that you won’t get valuable traffic and increase your conversion. The more you advertise using programmatic advertising methods, the more you’ll be able to afford to spend.
Let Us Talk If You Are Interested
Programmatic advertising is creating a whole new future for businesses who can now expand their reach to a global market. It gives customers what they want and allows businesses to reach the people that will buy. If you’re interested in growing your business using programmatic advertising, then get in touch today for more information from our dedicated experts.
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