There is a reason why we refer to the purchase funnel as a “consumer journey”. No marketer in the industry will tell you that this phrase was adopted because the path to conversion is as simple as a walk in the park. Actually, if you take a look in the Oxford Dictionary you may find a somewhat related to the modern-day advertising definition of the word journey: “A long and often difficult process of personal change and development”. What the clever thing about this sentence actually is, is that if looked from a different angle, it gives you the illness and the remedy together - long and difficult is solved by change and development.
In our previous article “The Programmatic Road to True Audience Reach” we spoke about the increasing trust of businesses in programmatic technologies. The development of advertising technology is an ongoing process, an evolving journey to improve the way advertisers connect with their audiences. On their side, the change is already a fact - brands are increasingly adopting technological approach in their marketing mix. What may (undeservedly) be left unseen is that there is another line of relation between the two worlds - in the last few years the AdTech industry has experienced remarkable innovation wave. New technologies are being created and merged within the offerings to bring additional strength into the already available options.
Let’s go back to basics for a bit - programmatic advertising provides with a complete picture of the consumer behaviour. Nowadays, with the help of Demand-Side Platforms (DSP), media buyers can seamlessly locate the optimum time, channel and content to connect with their prospect customers. Essentially this means that brands can now focus their efforts on an "audience-first" type of approach rather than relying on a single-channel tactics. The digital outlook only for the last year is showing rapid increase of online users - additional 225 millions only for the last 12 months. Consumers are engaging more with the digital space, which ultimately means more data points to take into account and more revenue opportunities.
The more the better; but this poses an important question - is the technological wave responding effectively enough to address the rising needs of advertisers?
So far, the answer is yes.
If we take a look again at the Demand-Side Platforms, like with most softwares, they work with the information input provided by their users. The system now follows the pattern of “more data = more results”. The environment of Demand-Side Platforms is continuously growing and improving. Their landscape now includes several types of data providers and ad verification vendors, to secure the rightful implication of the advertisers’ goals. In this manner, a new technology that ensures the ongoing improvement of data analytics and real-time optimization is the next step for the market.
It is true that sophisticated algorithms are already guiding the programmatic campaigns with better understanding of audience characteristics, preferences and behaviour patterns. However, not every marketer has enough comprehensive data to channel into the DSP platform, and not every media trader can make quick in-time adjustments to their campaign parameters. What is needed now is a new generation of trading algorithms that are more flexible and more capable to learn.
As scientists in Skylads we believe in the idea of simplicity for higher effectiveness. We believe that advertisers will be able to reach their true audiences when they are empowered to be more responsive. Our technology is specifically designed to empower DSP’s functionalities and to provide media buyers with new generation programmatic solutions. We’ve specifically built our algorithms to adapt to the information provided, however detailed or not, and to optimize the performance directly on the spot.
An additional layer to act on top of DPSs and to allow such functionalities is a powerful entry to the programmatic mix. With such capacity to enable real-time reflectiveness, better consumer engagement and more accurate ad spending become easily attainable goals.