With the average person in the UK now spending the equivalent of more than one full day per week online it’s no surprise that the amount of online purchases have been rapidly increasing year on year. Given the effectiveness of online sales channels, the competition for a user’s attention is increasing as the sophistication of the typical buyer does. As expected with users spoilt for choice, a single touchpoint is typically no longer enough to convert them into a customer. Alongside this, personalisation has become even more important, with 80% of consumers being more likely to engage with an offer if its relevant to their previous interactions with that company. So how can companies be present on multiple website’s throughout a customer journey and serve dynamic personalised offers whilst generating a positive Return on Investment (ROI)? This is where programmatic advertising comes in.
Take a look at KMG’s Ad below, this screen shot is of a moving HTML5 file. Animated Ads have a proven edge over static Ad creatives.
Programmatic advertising is one of the fastest growing areas of digital advertising, using a combination of data, machine learning and automated systems, it allows advertisers to show the most relevant offers to a desired consumer as they browse the web in real time. Not only is this far more effective in a landscape where relevancy is key, it also saves advertisers a lot of money compared to the traditional model of display ad buying where an advertiser would have to approach each desired website individually and buy a set number of impressions from them for their ad to be shown regardless of which user is viewing them. In contrast, with programmatic we can now automatically connect you to all the relevant websites that your desired customers are browsing and only serve your ad when that specific consumer is on the website.
Prospecting VS Retargeting
There are two main strategies which are used when it comes to programmatic advertising, prospecting and retargeting.
We’ll start with programmatic re-targeting due to the strategy proving to have such a high ROI, it became the first real breakout use case for programmatic advertising. Re-targeting works by targeting consumers who have previously visited your website and then leveraging behavioural data to deliver personalised messages when they are browsing other sites and content online. The main difference between standard search re-targeting and programmatic re-targeting is the level of targeting that can be achieved via a programmatic platform. By layering psychographic data with typical re-targeting components a far richer user experience which includes highly targeted and relevant messaging is achieved. This unlocks the ability to convert a larger portion of website visitors into paying customers as well as increase repeat purchases. With such high performance benefits it’s the reason why nearly 70% of advertisers reported using retargeting to fulfil multiple campaign objectives at once.
Prospecting on the other hand is used to find new users who have never come across your company and bring them to your website to ultimately turn them into paying customers. Using large data sets collected throughout the internet from online publishers to social media networks our machine learning algorithms analyse user behaviour and can identify who your next potential customers are. We then apply further targeting options to reach your potential customers when purchase intent is high driving valuable traffic to your site and maximising the ROI for your budgets.
Get in touch to learn more about KMG programmatic and grow your online footprint today.