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Marketing is an essential aspect of the business. Today the dynamics have changed a lot. Now, most marketing campaigns are done online, where the consumers spend most of their time. New technologies and methods are being developed quickly to make digital marketing more effective.
One of the most effective techniques through which digital marketing can be perfected is programmatic advertising. Programmatic advertising relies on AI and real-time bidding to connect advertisers and publishers. The other two critical elements of programmatic advertising are the demand-side platform and supply-side platform.
Advertisers form the demand-side platform. The supply-side platform constitutes all the publishers. These two elements of programmatic advertising communicate through bidding and determine the best ad space at the best price for the advertiser. The whole process is automated and helps the advertiser minimize risks and secure better ad space for a lower price.
A demand-side platform which is also known as a DSP, is a place where advertisers and media buyers come to find the perfect ad space automatically. It is an integral part of programmatic advertising, and together with supply-side platforms, it provides buyers faster and cheaper ad space.
The whole process happens automatically, saving both time and effort for the advertiser. A demand-side platform also offers various advantages to the media buyers, making it favorable among advertisers. You can run multiple types of advertisements like banner ads, video ads, and test split ads with the help of a DSP.
The process by which demand-side platforms work with supply-side platforms providing advertisers strategic ad placement in milliseconds, is absolutely amazing. The first step starts with the advertiser giving the DSP the ideal target details and setting up the ad. The DSP then connects with the SSP to find the most suitable platform to publish the ad.
The next step is bidding, and the advertiser with the highest bids gets the ad impression. The DSP then completes the buying process, and the ads are placed on the publisher’s platform. The whole process is automated.
For business owners and advertisers, a DSP is the best possible way to launch their digital ads. It offers several advantages for them, making it far superior to any of its alternatives. Programmatic advertising is still new, and many developments are still required, but it outperforms other outdated digital marketing systems in terms of both ROI and capabilities.⦁
Since DSP and SSP conduct their trade based on real-time bidding, the whole auction is based on a supply-demand chain that provides advertisers an advantage. The supply and demand model places the buyer in a position to pay less for the same ads that would have cost significantly more through other platforms.
DSP and SSP cut off the middleman, making more room for advertisers and publishers to profit from the business. With lower costs, it is easy to recover that amount by placing the ads strategically.
Programmatic advertising opened the doors for open web platforms to get a higher chunk of the profit. Previously, walled garden platforms used to dominate the ad space, but with programmatic advertising, more open web platforms are now getting the recognition they deserve.
DSP now offers more choices for an advertiser as they have added a vast number of platforms in their database. The extensive collection of publishers allows them to provide the most suitable publishing platform to the advertiser. More platforms increase the chances of getting a better conversion, increasing the ROI for the advertiser.
Previously advertisers used to have to wait for days to get reports of how their ads are performing. Now DSP has reduced reporting to only a few hours. Within an hour or two, you can see in real-time how well your ad is performing. You can see how many people viewed your ads, how many clicked, and how many people converted.
You can also check much personal information of the viewers like their age, gender, and location, which allows you to affirm your target audience. You can also check the performance based on devices enabling you to know which ideal device to run a particular ad is.
All this information allows you to make decisions very quickly. Within minutes, you can decide if you need to change your ad campaign strategy if it is not performing well, saving you from further losses.
Most of the processes happen automatically when you are using a DSP to run ads. It also provides you access to high-quality data that makes the whole process of setting up a campaign more efficient. When you have more data to work with, you can design a better campaign to increase conversion.
If you run an ad using a DSP, you don’t need to rely on many people. DSP also cuts down the workforce requirements allowing you to save more money. It is also possible to get extensive reports using DSP, which helps optimize the ad to get a conversion.
In other platforms, you would require complex coding and software integration, while in a DSP, most of the processes are automated and happen through AI. It is also easy to manage data and use them to perfect the ad creation with time. You can manage your ads in real-time using a DSP.
A DSP provides you access to more data, making it very easy for an advertiser to study them and develop a new and improved ad campaign. It made predictive analysis very easy, which directly increases your ROI by increasing the number of sales.