Modern business is impossible without Internet advertising, as it is the main way to promote products and services. The worldwide web and gadgets have become the primary ways of obtaining info. This is why Internet advertising is so crucial for creating a positive image and attracting new customers. Most modern companies have websites and are trying to develop the right market positioning strategy. But how crucial is web advertising nowadays? Here are the main aspects that you should pay attention to.
It’s Less Expensive Than Traditional Marketing
Imagine that you want to make your company more famous. What traditional advertising sources do you have? You most likely decide to print a couple of thousand brochures and order several banners in your city. Alternatively, you can publish an ad in the local newspaper or announce some discount on the radio. This option would have been effective in the 80s, but modern society requires new marketing methods.
The web environment allows you to attract thousands and even millions of potential customers. Plus, you don’t need to spend a lot of money promoting your product or service. All you need is social media, search engines, and some creativity. If you hire a professional marketer, your campaign will be successful. Typically, digital advertising costs are three times lower than traditional marketing services. But you should first explore all the options and take your time. Imagine you are a student, and you should read myassignmenthelp review to know more. Then you will know where to start.
It Opens Direct Communication Channels With Your Clients
Here is another feature of Internet marketing that helps to understand the needs of today’s customers better. The fact is that 20 years ago, all advertising campaigns were less effective. Then, the opinion of people could be found exclusively through social surveys. Nowadays, social media, online chats, and corporate websites help improve marketing campaigns at any time. For example, let’s say you’ve released a product or service, but your customers want to make some changes.
Through direct communication, you can get rid of barriers and hear those who bring you profit. In addition, the online segment allows you to collect all the negative reviews and find out what causes most people’s dissatisfaction. At the same time, positive comments are an opportunity to evaluate the effectiveness of marketing strategies. Data analysis in this format would not have been possible without the Internet.
You Can Analyze the Impact of the Campaigns
Any website owner can assess the campaigns’ effectiveness and impact by logging into the site’s dashboard. For example, let’s say your goal was to attract new visitors or customers. Open Google Analytics, and you will see the audience growth and many other parameters that will allow you to evaluate the effectiveness of your actions. Now you don’t need to spend money conducting social research and tracking offline sales’ growth dynamics. All the necessary data can be systematized online, and marketing campaigns can be adjusted in a few clicks.
It Doesn’t Go Away
One of the benefits of Internet Advertising is that all social media posts or sponsored articles will remain on the sites. As a result, thousands of people will see your messages, products, and services. Now it will be easier for you to plan long-term marketing campaigns. Classic banners, brochures, and posters cannot match the power of the World Wide Web. Consider this marketing method as a long-term investment in your business.
It Can Be Targeted
Any business is focused on a certain category of people. This is why targeted ads are so popular. Imagine being able to focus on a specific age group, interests, and preferences. Let’s take a look at students as an example. If one of them needs academic assistance, they are looking for StudyBay reviews or similar information. The business works on the same principle. You should focus on a specific audience and provide people with what they need. Modern web space allows you to convey marketing postulates and show people that your company is the best.
It Can Go Viral
Many companies create funny banners, songs, and YouTube videos that can go viral. For example, take a look at the Old Spice promo campaign. Most likely, you remember the black man who rode a horse, lay on the piano, and swam in the pool. Unconventional approaches to creating video ads can attract millions of people. Even if your sales don’t increase in the first week, your brand will become recognizable. It is thanks to Internet technologies that marketing campaigns have become very effective.
Now digital technologies have become the main source of popularization of goods and services. If your company does not have a website or social media page, it won’t be easy to become successful. The fact is that most customers give preference to those companies that they can learn about online. This is the key reason why digital marketing is so important. So this is why companies shouldn’t ignore today’s digital trends.
As we all know, programmatic advertising can make your head spin. So we wanted to break down the difference between the three main types of programmatic: Real-time bidding, Private Marketplace, and Programmatic Direct.
How does real-time bidding work?
Real-time bidding is a computer-run auction that allows advertisers to compete to serve targeted ads to their desired customers.
The ads are generated based off of the user’s cookies, based on the user’s cookie history. This helps advertisers target the audiences interested in their products.
To make these bidding decisions, advertisers use technology that combines information about the webpage as well as the user. The URL, content category of the page, location of the ad space, and the user’s browser cookies all affect how much an advertiser is willing to pay to serve an ad.
Real-time bidding is typically the most cost-effective form of programmatic advertising. However, it offers the least precision for both publishers and advertisers. Out of all forms of programmatic advertising, RTB is the largest – billions and billions of impressions are served each day. This is where most programmatic buying happens, because there are thousands and thousands of advertisers are competing for RTB inventory.
How do PMPs work?
PMP stands for Private Marketplace. Private Marketplace Deals are invitation-only real-time bidding auctions where one or several publishers invite a select number of advertisers to buy their inventory.
With PMP deals, the advertiser cuts out the middleman and skip over the exchanges and service-side platforms all together. Advertisers also get access to premium sites for cheaper than they would with programmatic direct. The advertisers also know exactly which sites their ads will run on.
PMPs are usually facilitated with an IO, or Insertion Order. This is a contract that spells out how much the buyers are willing to pay for the inventory and how long the ads with run.
The CPM is usually not a fixed CPM, meaning the advertisers don’t pay a CPM agreed upon in advance.
PMPs and Programmatic direct have a few different advantages for pubs and buyers. Publishers are more aware of who is serving ads on their sites, and they can sell the space for more money. But in order to justify paying more, buyers want preferential access to the supply. They basically want to find their target audience before their competitors.
How does programmatic direct work?
Programmatic direct is slightly different to PMP deals. Programmatic Direct is direct-sold, guaranteed inventory, that unlike PMP deals doesn’t require human intervention to run.
However, Programmatic Direct is actually a more manual process than PMP deals.
This is because deals are made on an individual basis, where a publisher’s sales rep negotiates the arrangement with the advertiser on a one-to-one basis.
With Programmatic Direct, the advertiser purchases a fixed CPM, meaning the advertiser agrees to paid a predetermined CPM.
Programmatic Direct is a good choice for brands focused on brand safety, as the relationship is one-to-one and the brands know exactly where their ads will appear.
A metaphor for understanding the difference between RTB, PMPs and programmatic direct
So to summarize, here’s a way to conceptualize the flow from Open RTB to PMP to direct.
The open market (RTB) has thousands of advertisers and millions of sites in it. When buyers are looking for very specific people, that’s difficult. Think of a huge farmer’s market with thousands of farmers and thousands of buyers, and you’re a buyer looking for the perfect apples. You know you’re looking for big, green, organic, and ripe. You can find a good one, but the odds of you actually finding the perfect apple aren’t great.
So now you can pay extra to go into the VIP area where only the best apple farmers are, but the cheapest apple is $5. You can now find the apple you want, but you’re still competing with all the other buyers to find the one you want. At least your odds are better. This is equivalent to PMPs.
But you really want this perfect apple, and you know which farmer has it. He says he will give you the perfect apple for $10, but he will deliver it to your house and skip the farmer’s market and price haggling altogether. This is how programmatic direct works.