CTV advertising is on the rise all over the world and is forecasted to grow further in the coming years. New advertising platforms are appearing on a daily basis, but when it comes to video advertising, you should trust professionals to promote your brand in the right place at the right time and to your target audience.
In the past, the process was manual, involving the parties spending time on personal meetings, negotiations and concluding contracts. That journey could take weeks. Nowadays, ad buyers and publishers no longer need to go through this daunting procedure.
The solution is the DSP (demand side platform) which not only makes the buying and selling of ads inventories more reliable, but also boasts higher cost-effectiveness in comparison to old-fashioned direct contact. This is achieved through the introduction of programmatic bidding.
A DSP platform is a piece of software that offers advertisers access to a marketplace where publishers list their advertising inventory. The former can buy all kinds of ads, including search, mobile and video advertising.
But what are the criteria for an effective demand-side platform? Expertise and availability of the support team are important, but the DSP itself should also aggregate the latest information from numerous bidding networks, as opposed to just one.
So what is programmatic advertising and why does it work? Together with supply-side platforms, DSPs bring together all stakeholders and offer them the best possible deal by matching the interests of the two parties and finding the best possible outcome for your budget in real-time. The communication between the SSP and DSP occurs through an ad exchange.
Publishers use SSP to list their inventory on the exchange and provide details of impressions to the DSPs. The more valuable a specific impression is, the higher bid it will take to acquire, taking into account its value to other businesses. In any case, programmatic bidding facilitates the ad buying/selling process immensely.
Aside from the efficiency of using a DSP, there are other notable advantages, with data being one of them. Thanks to partnerships with relevant third parties, they are able to provide superior analytics to single networks. They also often allow easy transfer from CRMs, so you can draw benefits from what you have collected already, as well as the data imported by other businesses. Naturally, more data means better targeting, which in turn improves conversion.
There are, however, some cons that need to be taken into account. DSPs are best suited for larger businesses with generous advertising budgets. Moreover, these platforms may prove too complex for small startups. It takes time to learn to use DSPs effectively, which such firms may not have. In that case, it would make sense to start with products from market leaders, such as Bidmind by Fiksu, whose products have been designed to handle the complexities of ad-buy and sell, letting businesses focus less on technical aspects and more on improving their core offerings.