Programmatic Buying: How Successful Agencies Attack Marketing Trends
Technology is changing fast, and video is clearly playing a large role in today’s marketing strategies. However, brands are experiencing big challenges with programmatic ads, as well as the agencies, publishers and platforms on which videos and ads are being placed. Only ad agencies and publishers that stay ahead of evolving technology and marketing trends will successfully support the brands they serve.
Consumers are showing a preference for video, and many marketers are taking advantage of this popular platform. Video was the topic of conversation at a recent meeting hosted by the Interactive Advertising Bureau (IAB). According to several key highlights discussed in “5 Things to Know About In-App Mobile Video Advertising,” posted by Elyse Dupre on DMNews.com, in-app video advertising offers several opportunities, yet is not without certain challenges.
What Agencies Need to Know About Video and Programmatic Buying
Studies are reporting vertical video has a viewing completion rate nine times that of horizontal video. That covers the ideal video format, but the video still needs to get in front of viewers. John Mansell, VP marketplace innovation for agency intelligence at Magna Global, suggests companies need to take a programmatic-first approach.
Programmatic buying is on the rise according to a study by eMarketer. Nearly 79% of mobile display ad spending will be completed programmatically this year and is expected to rise to 85%. That translates to display ad spending of about $24 billion this year with a projection of nearly $36 billion by 2019.
A change in technology and advertising options is putting added pressure on marketers and agencies to become more tech-savvy. Not only do agencies need to understand the nuances of advertising and consumer behavior, they need to understand the nuances of social media and video, as well as programmatic and other platforms. Mansell takes this concept one step further suggesting that agencies need to become more of a ‘knowledge warehouse’ than an ‘ad-buying price negotiator.’
Technology is Changing, and So is the Agency’s Role
To become a knowledge warehouse, agencies need to be able to capture and mine insights like never before. To accomplish this, they must first channel data into a comprehensive, integrated management solution with enterprise resource planning (ERP) and customer relationship management (CRM) systems. Centralizing data makes it easier for agencies to enter, access and analyze key metrics in real time.
Tailored systems, such as DynamicsADvantage, give agencies targeted functionality to effectively and efficiently manage multi-channel advertising campaigns. Streamlining common repetitive processes, such as service requests and order confirmations gives agencies more time to devote to clients and developing successful campaigns. In addition, business intelligence features enable agencies to meet demands and adapt to changes—before they become problems.
Modern business management solutions, including DynamicsADvantage, play a vital role in an agency’s ability to support their new role as a knowledge warehouse and trusted advisor. Armed with connected data, agencies can prove their value and show clients they are executing successful marketing and advertising programs. Contact AKA Enterprise Solutions to learn more about ERP and CRM for media and entertainment companies.