Programmatic TV Advertising is a way for businesses to broadcast their adverts directly to the people that they feel will be most interested in their products or services. This may be based on a specific target demographic, or the physical location of the store or showroom. Doing this allows the business to capture more sales, as the people who are interested in their products are seeing the advert.
With traditional advertising, it’s usually the case that the advert is broadcast out randomly and sometimes even nationwide. Although this may appear to have more coverage, it may not be reaching the people who are likely to convert, meaning it’s wasted effort. Traditional ads with no targeting are also much more expensive, due to the number of people that view them, but rarely return more sales than a targeted ad.
Programmatic advertising is therefore the most efficient way to reach a relevant audience who may convert to make a purchase, increasing the return on investment and soundly securing growth.
Ranwell Productions are now able to offer amazing Programmatic TV advertising opportunities throughout Miami. They’re experts in:
- Advertisement creation
- Filming and editing
- Optimizing adverts for specific target audiences
- Advert placement & effective broadcasting
What Is Programmatic TV Advertising
Programmatic TV advertising is an automated process which helps businesses to purchase TV ad space which caters for a specific audience based on their location, hobbies and interests and the times which they normally tune in.
All this information is gathered using real-time data which is collected from mobile devices, location data and internet usage and is displayed on a dashboard to help make the best and most informed decision.
How Programmatic TV Advertising Works
As Miami now has the ability to use programmatic TV advertising with the help of an integrated broadcasting framework, it’s now possible to be more selective about the audience that see a specific advert.
Algorithms can recognize when specific ads are viewed throughout each day and week and are able to determine which types of people via them based on online search history. This creates a picture of the demographic which typically views each ad space. For example, full time mums may view daytime adverts between chat shows more than working professionals. This might mean that brands advertising clothes for children will do better during the day.
To obtain the most relevant spaces, businesses place their target demographic on a Demand Side Platform (DSP). The platform will then offer options of advertising space which are most likely to reach that target demographic.
Alternatively, the Supply Side Platform allows sellers of advertising space to place in the general demographics of people who normally view each space. They can then reach out to businesses on the platform who are likely to benefit.
Once an ad space has been decided on, all interested businesses can bid on the space on a real-time bidding platform. This allows the seller of the ad space to advertise space without the need for long, complex negotiation meetings, while still getting a fair price, as more popular add space is more valuable. It also gives businesses the opportunity to use as much or as little of their budget as they like to reach their audience, so they never overspend. Everybody wins!
How Ranwell Productions Deliver The Most Effective TV Advertising
The SSP provides information to businesses regarding the types of people that reach each ad space and how frequent and dense the traffic is. This allows businesses to discover the best spaces to use in order to contact the most relevant people.
Ranwell Productions will then help businesses to construct adverts that cater to the people that will see the chosen ad space and get the advert ready to roll.
Once the ad space has been selected the data and analytics regarding that ad space will appear on a dashboard so you can follow the performance. Ranwell will then assist you in making bids to win the right space within your budget and offer alternative solutions if the space becomes too valuable and unaffordable.
Once you’ve won an advertising space that’s compatible with your brand, you have full autonomy over any changes that you need to make. The real-time platforms allow you to see the performance of your advert in real time. If something isn’t quite working, then you can amend anything remotely, switch ad spaces and change your audience at the touch of a button. This allows you much more flexibility and real time A/B testing.
For these reasons, programmatic TV advertising is the way forward for smaller businesses wishing to scale up, as you don’t need to go over budget to find a great space to convert your audience and see a decent return on investment. The more successful your first ad is, the more you can spend next time around.
Example Of How It Works
If someone is about to get married, their internet search history is likely to be full of wedding venues and cake makers. They’ll have searched lots of wedding product sellers on Facebook and Instagram. The cookies from their search history are then used as data points to understand when that person is searching and what they’re searching for. The programmatic TV algorithm then helps people who intend to sell wedding dresses to find the best locations and times to display an advert based on when these types of people are likely to be watching.
In turn, the data from these slots is then added to the dashboard so future businesses can take this into account when selecting an ad space. The more adverts you run, the more data you’ll achieve, meaning you’ll be able to make more money to invest in the future, increasing your return on investment each time.
Scale Your TV Ads
If you’re a small business or a start-up, scaling up is simple. You’ll be able to adjust your demographic at any times based on the types of people that you want to reach or on the amount of conversion that you’ve had on previous ads. This allows you to boost your advert or rein it in if you need to, ensuring you stay within budget.
As you test your adverts, you’ll begin to make decisions on what works and what doesn’t, spending less budget to gain more traction as you go and making your ad campaigns gradually more successful.
View Your Stats & Data
Ranwell Productions offers a reporting dashboard to give you access to all of your advert’s data. This helps you to make decisions on what’s working and what isn’t so you can make changes where tou need to.
Later, you’ll be able to compare the success of your ads to your previous ones, or even adverts that shared the same ad space prior to you. This helps you understand how well your campaign is fairing and gives you the opportunity to identify where changes are required.
Benefits Of Programmatic TV Advertising
Programmatic TV Advertising has a whole list of benefits for businesses nationwide.
Show Your Ad Only To People Who Are Interested
Traditional TV advertising broadcasts nationwide, which picks up more watchers, but not necessarily more customers. Just because your advert reaches more people, it doesn’t actually mean you make more sales. For example, if you’re wanting to pull someone into an actual store to make a purchase, then it’s more beneficial to only advertise across Miami, as those people are most likely to visit. If 1000 random people see your ad, it’s not likely that you’ll get a great uptake, maybe 5 or 6 would convert. However, if you’re targeting your ad, you may only reach 100 people, but are likely to get more people to purchase, securing a higher ROI.
Lower Ad Spend & Greater ROI
As you’re targeting your advert, you’re not going to reach as many people, which is good news. The more people your advert reaches, the more expensive it’ll be. Reducing the target audience to just the people who will definitely be interested in what you have to offer will reduce the cost of your campaign and still bring in relevant people who are excited to buy, giving you a greater return on investment.
As a small business, you’ll want to gain traction gradually. Although you want to increase the amount of customers you have, doing this all at once could be more than you can handle. Using the data you’ll be able to start with a really small target audience and increase your viewers over time, therefore increasing your conversion gradually. This helps you to scale at a rate that suits you and grow year on year.
You Are In Complete Control
With a real time dashboard, you’re able to change your advert remotely at any time. So, if something isn’t quite working out, you’ll be able to amend your ad, or change the slot to increase conversion. Unlike traditional TV advertising, there’s no extra filming and editing time required and you don’t need to endure long negotiation meetings regarding ad space.
Let Us Talk If You Are Interested
Programmatic advertising is a great way to increase your conversion at a cost that suits you. If you’d like to find out more about how Ranwell Productions could help you to grow your business using effective marketing campaigns, then get in touch via the button below to have a chat with one of our experienced and dedicated team.
Your programmatic advertising journey awaits you!
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