Why do you need to know about the Demand Side platform in 2021?

Have you heard about the demand-side platform, but not sure what is all about and how it can benefit your business. Then, this blog would be an eye-opener for you.

Advertising on the internet used to easy even some years ago. Now, it has become an absolute nightmare for companies that are new to the online advertisement world.

So, you might be wondering what has changed?

⦁ People became more skeptical about ads.

⦁ Too many companies are trying to market to the same audience.

⦁ There are too many platforms where people are hanging out.

Fortunately, technology also evolved with time and now we have demand-side platforms that have made marketing easier and more strategic.

What is a Demand Side Platform?

A demand-side platform is a marketplace for advertisers to purchase ad space on various platforms through an ad exchange. A demand-side platform allows advertisers to manage ad campaigns across multiple platforms from one place.

Demand Side Platform is revolutionizing the internet marketing industry by using AI and real-time bidding. Advertisers now have more options to choose from and they enjoy transparency and better results by using a DSP.

If you are new to online advertisement, then DSP is something you should look into so you can get maximum results by minimizing your ad spent.

How does a Demand Side Platform work?

When you are running ads on Facebook, you manage everything from your Facebook Business Manager. Similarly, you manage your advertisement on Google through the Google Ad Manager.

A demand-side platform works differently from them all. When you have access to a demand-side platform, you won't need an advertisement account on other platforms. From a single DSP, you can manage your ads on platforms like Facebook, YouTube, Google, and others.

A demand-side platform directly deals with a supply-side platform where publishers list their platforms for advertisers to market. Through real-time bidding, the best buyer is selected for advertising on a platform.

What are the pros of using a Demand Side Platform?

There are many advantages of using a Demand Side Platform. It is a wise idea to know about them to make an informed decision before spending any money on advertisement.

 Lower Advertising Cost

The cost of advertisement is determined between the DSP and SSP based on a supply and demand relationship. Because of DSP, the cost of the advertisement has lowered significantly while publishers get to rent out their digital ad space more frequently than before.

It's a win-win for both the publishers and the advertisers. In the beginning, the demand-side platform received a lot of heat from the publishers as they thought that DSP would lower their revenue.

For an ads buyer, the cost has reduced significantly for the same traffic. Even small business owners with less marketing budget can now take advantage of DSP to run their campaigns.

Precise Website Targeting

Advertisers now have so much more control over where they want their ads to be displayed to get more conversions. This is possible because of the huge data that the DSPs have access to.

Now a publisher can target which website they want their ads to be displayed to. They can even target which web pages they want their ads to be shown on.

For example, if you want to run an ad for your digital service agency, you can choose blogs that specifically talk about digital marketing. You can even target the web pages by using specific keywords or by directly choosing the URL of the web page. 

This is a very powerful advantage of DSP, which lets you reach the perfect audience you want to spend your money on. You no longer need to burn your advertisement budget on people who are never going to convert.

Strategic Targeting

You must have seen ads being displayed of the same product or offer over and over on YouTube, Facebook, and other platforms. This is called retargeting which is one of the best tools that marketers use to get you to buy their offers.DSP takes it a step further and allows you to target your audience at the right time, on the right platform and, on the right device. After analyzing bulk amounts of data, researchers have discovered some common buying patterns.

Most people won't buy your ads the first time they see them. It is also found that people mostly buy offers and courses when they are browsing from a desktop while they buy clothing and accessories when they are on mobile.

You can select the perfect device, the perfect time, and the perfect platform to promote your offer to your audience giving you a much higher chance of making a sale. All this is made possible because of strategic targeting that is offered by DSPs.

Implement Strategies Real-Time

While on other platforms, you need to wait for several hours to see how a certain campaign is performing, you can see the same data in DSP instantly. You know exactly how many people are watching your ads, how many people clicked on them in real-time.

This feature of DSP allows advertisers to change their campaign strategy in the middle of an active campaign and save their money from being wasted. You also get access to more data to be able to implement changes to your campaign strategy in real-time.

Learning how to use data to your advantage is something that you should focus on right now. It doesn’t matter if you are already using DSP or planning to use it in the future, it is the right time to get your foot on the door. 

Managing Everything Centrally

Advertisers no longer have to use different advertising accounts to check the status of their ad campaign. They can now check the progress from the dashboard of one DSP. 

Since everything is centralized, the efficiency of the overall advertising campaign would improve and it also reduces the learning curve for a beginner as he now just needs to learn one platform.

An advertiser also gets to see how the ads are performing on different platforms from one place, making it easier to do the comparison. It reduces the time needed to take action and gives more data to make the right decision.

Bulk Stat Analysis

It is easier for businesses to grow and get smarter with time when they run more ad campaigns using DSP. With time you would have more stats to compare and analyze to optimize your campaigns better. 

Data is the new age currency and with DSP, you would be getting lots of it. The earlier you start using DSP, the better it is for the future of your business. It is also easy to collect the feedback of your customers by using DSP. 

When you know so much about your customer, it becomes easier to run ads that they would engage with driving your revenue. It would also become for you to shape your offers according to the needs of your ideal customer. 

Want to Start with a perfect DSP for changing your story?

Now that you know how a demand-side platform works, and how it can benefit your business, you should be able to understand how it can change your business in 2021. 

One of the best DSP where you can get a free consultation to discuss your marketing campaign is Bidtimize. It doesn't matter if you are new to online ads or a veteran who wants better returns, Bidtimize got you covered. 

• DSP
• Demand-side platform

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WRITTEN BY

Bidtimize

Bidtimize is a full stack programmatic platform built for data-driven marketers. We are using the latest and greatest RTB technologies of artificial intelligence-powered tools to create futuristic, unique, and powerful displays advertising that are tailor-made to achieve your campaign goals.

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