It’s the Stuff That’s Complicated
Technology and stuff sure make us marketing executives sweat. The whole world found that out firsthand when Chevy’s Rikk Wilde crashed the MVP party with his now-famous #technologyandstuff description of Madison Bumgarner’s new Chevy truck. And of course it wasn’t the technology or the stuff that had Wilde beading up with sweat, it was the national stage.
But the Chevy exec and lifelong baseball fan drew national attention to a big topic, one the digital advertising and media world grapples with daily: finding a way to make high-tech advancements simple enough for everyone, even really high-powered people like marketing execs, to understand.
In local market advertising, even a fairly big local market like Hampton Roads, VA, advertisers grapple with the question of how, when and where to shift marketing dollars into digital media, and how to know when that strategy is working. While pay-per-click advertising can be pretty straightforward if the consumer is properly motivated to click, digital display advertising has fallen out of favor. Measuring response has been difficult, primarily because of the way it has been bought and tracked.
The highest-tech, most cutting-edge system and tool within digital media buying is a sophisticated system called a Demand Side Platform (DSP), which allows an operator to buy media programmatically and bid on digital advertising inventory in real time.
Whew. See? Sweat beads.
You can read a great blog describing some of the DETAILS of the stuff that makes up programmatic buying here, but let me tell you that what the technology does is make sure that the advertiser’s ad only shows up when a targeted customer is actually surfing. And the advertiser only pays what he or she has bid for that targeted customer. And then all this stuff measures what is working best, and the buyer tells the technology to do more of that. The same stuff measures what is not working so well, and the buyer tells the technology not to do so much of that.
While I don’t exactly expect you to follow all of that particular technology and stuff explanation, I can tell you that as an advertiser you should gain an understanding of programmatic buying.
In one form or another, it will become the way advertising is bought and sold going forward.
It is automated advertising buying compared to manual buying, and it will drive the efficiency and measurability among all types of advertising. And that includes traditional forms like broadcast and cable, outdoor and print.
Even some of largest local advertisers will admit that, although they have a very diverse media mix and an ongoing focus in driving social as well as real-life connections to their brand, the plans are not very well coordinated, and they lack the ability to measure how effectively their digital advertising is working. Technology is going to continue to open up more media mix opportunities. Find someone to help you understand the stuff, and you’ve got the secret ingredient to make it work.