What is Programmatic Advertising?
Big data” is a term that you’ve likely heard before – but what it actually represents will still come as a surprise to many people. Thanks largely to the mobile world that we’re now living in, data is being created at an almost alarming rate – than in the entirety of human history leading up to that point, for example.
, there will be about 1.7 new megabytes of data created for every single person on the planet – every SECOND. This is hugely intimate data, too. Information about what people like, what they don’t like, what they’ve purchased and what they one day hope to buy. Information that can be used to learn more about their buying habits, why they make decisions and when they might make certain decisions related to your brand in the future.
This is also, in one small part, what programmatic advertising is all about.
At its core, programmatic advertising isn’t JUST about using all of that data to your advantage to make your marketing tactics better, more efficient and more targeted than ever before. It’s also about allowing that data to give way to a world where many of the menial tasks of advertisers are automated, freeing up more time in your day to move onto bigger and more important issues.
Take shopping cart abandonment, for example. In the “old days” when someone came to your site, added a product to your cart and then left, you were at something of a crossroads. For starters, you had to think about WHY they left and never returned in the first place. Did they find a better price elsewhere? Did life get in the way? Next, you had to manually reach out to that person – usually with an email – and gently nudge them back towards their original intention of the sale in the first place. But you had to do it at just the right time – wait too long and they’re gone forever, pull the trigger too early and you come off as pushy.
With programmatic advertising, all of this can happen instantly – and WITHOUT any effort required on your part. A system can see that someone abandoned their shopping cart and send a series of expertly timed, properly targeted emails to the customer. To put this all into perspective, one study estimates that shopping cart abandonment rates The right programmatic campaign, on the other hand, can save up to 65% of those carts – if not more.
But again, that’s just one small part of a much larger story.