The advertising industry is more competitive than it has ever been. Advertisers are always exploring methods to save money and stay up to date with industry developments. Investing in media buying technologies is one way they can accomplish just that. In this post, we’ll evaluate seven reasons why investing in media buying technology is essential. But first, let’s discuss what media buying technology is.
What is Media Buying Technology?
Media buying technology is an automated system that allows media buyers to purchase and manage digital ad campaigns. It enables automated bidding and real-time analytics, and it paved the way for programmatic advertising, which uses analytics and algorithms to deliver ads to the right target audience at the right time and at the right price. This technology has taken the manual work out of media buying for agencies and made it more strategic, allowing them to better utilize client budgets.
Why Invest in Media Buying Technology?
1. Inventory management
Unlike traditional media buying, programmatic media buying allows you to more efficiently manage your advertising inventory by purchasing media in real-time based on factors like keywords, publication location, current ratings, and audience demographics. Agencies have a full picture of the media space they’ve acquired for their clients and can handle the creation of each ad campaign efficiently with only one software package.
2. Maximum Control
With the adoption of programmatic advertising, media buying agencies have complete control of their clients’ advertising spending. Media buyers can bid on ad placements in real-time through instant auctions. When ad inventory is acquired, the media buying software automatically updates, allowing the buyer to quickly determine what other ad space they may buy for their client with their remaining advertising dollars. This allows the media buyer to more efficiently plan complete campaigns.
3. Specific Audience Targeting
With programmatic advertising, agencies may plan media buys in a more proactive manner by determining the best time and platforms for client campaigns. Agencies may acquire inventory across a range of platforms, such as mobile, desktop, or tablet, and formats, such as display and video, using programmatic media buying. They buy advertising space depending on where their target audience is most likely to be at a given time. As a result of such precise targeting, higher quality leads are generated.
4. Real-time analytics
Media buying software provides agencies with a 360-degree view of all client campaigns in one place. This allows media buyers to adjust accordingly in real-time to increase performance success. Media buyers can reduce the risk of campaigns failing for clients by tracking performance in real time. They can monitor performance changes and react promptly to negative ones. Clients save money as a result of this, and have more advertising dollars to give to media buyers for use in their campaigns.
5. Automated processes
Media buying agencies now have less manual labor thanks to programmatic media buying. Workflows have been simplified to give media buyers more time to develop relationships with their clients and truly understand campaign goals, allowing them to create campaigns that align with the client’s objectives. Automated processes are allowing media buyer’s to utilize their time more effectively, saving the agency money and allowing them to make smarter campaign selections with their client’s advertising dollars.
6. Enable Self-Service for Clients
Agencies now provide self-serve media buying to their clients thanks to media buying software. Clients have access to their own media campaigns and benefit from streamlined procedures, which helps agencies increase operational efficiency and streamline client communications. Clients can keep track of what their media buyers are working on and what campaigns are currently running. Along with having a clear picture of campaign expenses, budget use, and advertising design requirements.
7. Seamless Integrations
All popular ad servers and exchanges are fully integrated with media buying technologies, which helps to remove the fear of adopting a media buying technology platform for higher-level management. The media buying solution centralizes all data from many sources, making campaign data interpretation faster and easier. These integrations boost flexibility and improve the efficiency of various workflows, making it easier to acquire media from a single platform.
The Benefits of Media Buying Technology
The automation of media buying software makes it easier for media sellers and buyers to interact, allowing media buyers to purchase the media they want with less manual effort.
Programmatic media buying software is easy to set up and provides integrations with all the popular ad servers and exchanges. All you need is a computer and internet access and away you go. Programmatic media buying is a cheaper option compared to traditional media buying with real-time bidding used at open auctions.
Media buying software gives agencies more transparency, which means media buyers have a better understanding of campaigns and available inventory, and can work more effectively with all relevant data at their fingertips, resulting in more successful advertising campaigns.
Every day, more media buying agencies discover the benefits of media buying technology. As the digital world continues to transform how we conduct business, agencies that have yet to implement smart media buying technology will need to take the next step and begin integrating this cutting-edge technology into their operations. The benefits of media buying technology outweigh those of traditional media buying and as software companies continue to innovate, this technology is sure to advance even further in the coming years.