Programmatic Media Buying is now a big part of buying and selling media. In basic terms, it is the act of buying media like they are products. It is auction based and people buy media based on the amount of viewers they get for it. It is an automated system of buying media for the right price at the right time. The price of the media is based off of the value in the current market. For anyone interested in buying display media then programmatic media buying can help make this process more effective.
What is RTB?
There are many things that go into programmatic media buying such as RTB, DSP, and DMP. RTB stands for real time bidding and it is the foundation upon which programmatic media buying is built upon. The idea that people can bid on media, such as advertising, is what makes it more of an automatic system. It is bought and sold on a per impression basis and that price per CPM is based on an auction. It has become immensely popular because media buyers can now spend less time researching direct buys and negotiating deals. Now marketers can use programmatic media buying to find a target audience and then market to them across the web.
What is a DSP?
DSP stands for demand side platform and is a system that allows buyers of digital media to review inventory and manage multiple ad exchanges through one interface. You can do real time bidding for display advertising right through a DSP and one of the main benefits is that you can locate audiences in a more detailed way than ever before. DSP’s often have access to many ad exchanges which makes putting together a comprehensive programmatic media buying campaign can be done quickly, effectively and highly targeted to your needs.
What is DMP?
DMP stands for data management platform. It is like a data warehouse for consumer information and It takes this information and sorts it for media buyer. These DMP’s store cookie ID’s and create market segments based on first and 3rd party data. By using DMP’s you can extend your remarketing reach, build a cookie pool, find and target different audience segments and build an intelligent display campaign based on information you cannot find anywhere else. Having unobstructed access to different meticulous data points for different audiences make this a must have for any digital marketing firm.
All three of these components, RTB, DSP’s, and DMP’s, combine to create a very useful system for marketers and essentially make programmatic media buying a possibility. Finding your target audience is a critical step in the marketing process and if you want your campaigns to be successful you should consider utilizing an agency who specializes in media buying and has experience finding the right audiences within these platforms.