In case, you’re not acquainted with Real Time Bidding, start by watching this brilliant tutorial on how Real Time Bidding fits into the eco-system of online display advertising.
Or simply settle for the excerpt: Real Time Bidding is the ‘stock market’ of selling and buying display ad space in online media – while obtaining control of all your inventory all the way down to one impression at a time and in real time. In other words: it’s a game changer of display advertising.
Why Real Time Bidding jumped to become need-to-have for publishers
Unlike other über-hyped technologies, Real Time Bidding does have a number of aces up its sleeves.
First , the demand for corrections of campaigns in real time goes without saying. Advertisers wants the most bang for their buck and agencies need to come up with results to support it. Real Time Bidding gives you the opportunity to adjust online campaigns on the fly.
Another great RTB benefit is inventory transparency. With Real Time Bidding you get full path transparency of each of your display ads – all the way down to where it was displayed, for how long and to whom. A feature that was unimaginable before with ad networks where your ads could end up on porn and problematic sites without your knowing.
RTB also gives you all of the following:
- Retargeting. Real-time, impression-level bidding makes remarketing/retargeting more powerful with ways to precisely identify and target consumer behavior.
- Cost efficiency. Spend your budget on well-performing campaigns. Instead of going with poorly-targeted impressions or impressions delivered to fulfill a bulk inventory purchase, you get to correct your mistakes on the fly.
- Yield optimization. With the ability to evaluate and place cost parameters on each impression opportunity, pay-for-performance takes on a new, positive meaning for your campaign.
- Insight. Simply learn what works and what doesn’t work at impression level. These insights are valuable.
- Ad optimization. Testing ads on web visitors becomes much more efficient and effective. Many predict that new ways of ad customization and 1-to-1 messages will emerge due to real time communication.
Performance. All in all, these benefits should lift your display campaigns compared to previous approaches. Better yet, the difference should be consistent and sustainable.
See? You better be including RTB in your digital media mix…