Consumers today are flooded with offline and online information about products and offers.
Marketers are combining their digital strategies with different data sources like household data, CRM data, browsing data, business data and so on.
The information needs to be correlated in order to create meaningful consumer segments.
The importance of data is evident from continuous rise in data management platforms (DMPs).
They are sought after by both, marketers and publishers.
Bigger publishers are partnering with DMPs to acquire data about subscribers and audiences. Marketers are looking for ways to design marketing programs that reduce media wastage and produce targeted efficiency based on data stored in their databases. Marketers are continuously trying to merge their data with third-party sources and gain better understanding of their audience. This is one of the reasons why data has gained such popularity in ad tech with in the last few years. Data analytics enables fast insertion and accumulation of a huge number of anonymous digital information legally.
However, certain challenges are faced by non-browser channels. This is because DMPs are typically dependent on third-party information to create their audience segments. Audience engagement categorically involves identifying the contribution of the user in the conversation. However, customer verification is also necessary in real-time to achieve effective marketing.
In spite of challenges with data, opportunities in consumer packaged goods are enormous. The opportunities available to understand data layers and customers help brands redefine their targets and reach them. It reveals more opportunities to customize the messaging in a real-time media environment and be more creative.
That approach to programmatic advertising is changing the common techniques used by marketers. Programmatic advertising is trying to reach the magical place of talking to that right customer at the right moment giving the right message. Now with big data in programmatic marketing, it is also about the ‘right price’.
Brands look to use data from first-party sources to provide decisions. Programmatic advertising provides the real-time view to make those decisions. This helps in making a one-to-one conversation on a huge scale, as one wishes to be dynamic in one’s targeting and creative preferences. A global survey by business executives has found that almost 44% companies show the desire to use data and create more targeted campaigns.
So, why should one merge big data and programmatic advertising?
There are around 2.5 Quintilian bytes in digital data that is created every day. Google says 2 million searches, 340 million tweets, and 145 billion emails are keyed in by users every day. In addition, there are other invisible transactions online, like toll driving, swiping of credit and debit cards, website visits and so forth.
All catalogue companies need to process a huge amount of CRM that relates to household brands. Then there are credit card companies that try to find information about their customers’ livelihood using the spent data. All these sections use big data, which is used to process the information within a short turnaround. However, in the digital world, where real-time data is being processed, making decisions is one big problem.
Programmatic data promises to bind dispersed data in one piece and make it effective in the real-time digital scenario. In the case of using one technology, multiple systems are harnessed and rules are written further to make decisions and take actions based on true data.