A Media for all Seasons
It’s been interesting to review the stats and see how quickly the economy across Australia has recovered after lockdown. The momentum of the recovery has surprised economists and the government. Consumers have been happy to spend and the level of optimism in the economy is generally higher than anticipated. Job keeper funding has seen some debt being paid down and with the removal of lockdowns consumers have been quick to return to the market. Low interest rates have seen house prices recover strongly. Two principal concerns are the level of trading in the city and the local tourism market, which is still being impacted by state border closures and lockdowns making staff planning difficult.
Retailers’ results reflect the new paradigm and have been in many cases, extraordinary.
In this new trading environment one important tool that needs further examination is Programmatic Advertising. Accenture have estimated that globally the market this year will be $98 billion dollars and will make up 68% of digital media advertising. Few advertisers are taking advantage of the power of this important new medium to manage activity across Social (FB & IG) display advertising and You Tube.
The big advantage is the option of using audience, contextual, location and behavioural targeting to achieve a more efficient placement of digital retargeted advertising. In its simplest form when a potential customer visits a web page the programmatic marketplace begins an auction for the advertising spots on that page. If the customer meets our criteria, we bid for the opportunity of buying that spot. If we bid correctly, we win the spot. This is done in a millisecond and an algorithm compares the bid criteria we have set and makes a decision on the pre-set price offered and chooses the highest one as the winner. This real time bidding is efficient and makes up 90% of the most common form of programmatic advertising.
With the vast array of retargeting options available its vital that clients learn more about this important medium as it’s not a question of if you will use it, but when. It’s on all year round and can be served to your target audience with increasing efficiency, to give you the most cost effective acquisition, whatever the digital medium.