Programmatic display advertising is one of the fastest growing digital channels. According to Zenith’s Programmatic Marketing Forecasts, the digital advertising medium is due to grow 31% in 2017. In the UK, programmatic trading accounts for 70% of the display market.
With programmatic display advertising dominating the UK, here we share three strategies to help you make the most of this digital channel.
Being audience-centric is fundamental to successful programmatic display advertising. To understand who your audience is, and how to target them, you need access to big data. This data can come from a number of sources such as Google Analytics, social media, third-party data and web browsing information. Once you have enough data, you can begin to build a picture of your customer and where they are likely to be; programmatic display adverting software can then use this information to serve a potential customer a highly targeted and personal ad. For example, if you are a travel insurance company, you can serve up and ad while a potential customer is reading a blog on a destination they have just booked a holiday for.
Your customers can be many things; they can be mobile users, desktop users and tablet users at different times of the day. According to You Gov, 34% of 13-18-year-olds have a smartphone and own a tablet as well. With people increasingly owning more than one gadget, the need for cross-device optimisation to create a connected experience is even more important. This is much easier to do with programmatic, as it can detect what type of device you are using and serve up the appropriate ad.
As with any form of marketing, to measure ROI you need to have a selection of agreed key performance indicators (KPIs) to measure against. For example, when mega brand Kellogg’s began to use programmatic their KPIs were viewability, targeting index and frequency. When the cereal brand optimised for viewability, it went up from 56% to 70%, and those campaigns which had the highest viewability also had the highest ROI.
However, the most powerful metric to both target and measure against is CPA (Cost Per Acquisition). Programmatic platforms can be configured to ONLY deliver to a pre-approved CPA target!
If the above is not the appropriate KPI for your insurance company, other KPIs to adopt can include:
- Digital gross rating point - the measure of the size of an advertising campaign by a specific medium
- Brand lift
- Organic search lift
One of the advantages of programmatic display is how the technology can give you real-time feedback and can automatically optimise itself. As programmatic display gives you the chance to personalise ads to be more relevant, it means it is easier to test ads and optimisation, meaning you get results quickly and can change your strategy accordingly.
Uncover three more common mistakes made by insurance companies in our latest graphic here.