A Guest Post by Tom Wright of Biddable Media Consultancy.
Evolve through the pandemic: how businesses can leverage programmatic advertising efficiencies to find opportunity in the lockdown.
As the country is told to stay at home in an unprecedented period of social distancing to curb the spread of Coronavirus, people are spending more time at home consuming media and content.
What does this mean for business?
Whilst for some industries, the lockdown presents a halt on their trading; however online businesses are able to find opportunity reaching users spending more time on their devices, with more time to consider advertising content that is relevant, timely and targeted.
How does it work?
As a marketing channel, programmatic offers advertisers the opportunity to reach audiences on any device, across a network of millions of publishers and apps in the right contextual environments at the right time using Display, Video, Article Ads, Audio ads and on connected TV – all from one purchase point.
Now is the time…
With more people at home consuming media, publishers have seen an unprecedented spike in traffic – more traffic means more available advertising inventory and with some advertisers exiting the online advertising space due to an inability to trade, the programmatic network is booming with potential for new advertisers to dip their toe into a previously inaccessible marketplace – now has never been a better time to test programmatic advertising as a highly targeted, results focussed broadcast medium.
All new prospected users are kept within an audience segment for up to 180 days, allowing for re-targeting once the dust has settled and things are back to normal. All programmatic advertising collects users into highly segmented audiences that can be re-addressed with different messaging (be it branding or direct response) during these 180 days – if they return to your site, that 180 days is refreshed.
So what have I seen over the past 10 days of huge cultural and social change?
Inspirational willingness to adapt. Coronavirus, whilst a direct threat to our world and our loved ones, is also pushing us personally and professionally to listen, act and react in new ways to the information we are given. We are evolving – we have already evolved over the past 10 days and we will continue to evolve throughout this pandemic. I believe that the world will be a different place after the pandemic has been brought under control. And it will be.
So what can we do in the meantime?
Evolve harder. Communicate clearer. Reassess business potentials. Reassess personal priorities and values. That’s what I’ve found myself doing at least.
For companies who are frozen due to the inability to function, now is the time to communicate; to your customers, to your peers, to new audiences, on industry publications or targeting audiences within your sector – you don’t need to sell online to leverage programmatic as a tool to keep your audiences warm.
Now is the time to combine programmatic efficiencies with adaptive strategies to educate, tell your story, sell a new product, adapt an existing service and find new opportunity within the uncertainty.
Advertisers – don’t shy away from promoting your business right now. As long as it is done with authenticity.
Programmatic can provide that platform to access relevant audiences and at a far cheaper cost.
I’ll leave you with a story.
In the 1930’s W.K. Kellogg made an unprecedented move as the United States sank into the Great Depression. Instead of cutting back, he doubled his advertising spending – and Kellogg cereal sales increased. What was the name of the other cereal maker at the time? Nobody remembers. Why? They reduced their advertising budgets.