Programmatic Media buying is the use of technology and algorithms to automate the buying and selling of digital ad inventory. Below are some of the most commonly used strategies.
1) Audience Targeting: Audience targeting gives advertisers to reach their target market through collecting data such as: behavior, interests, demographics, and more. Data management platforms are used to collect consumers data, giving advertisers the advantage to not only make relevant ads specifically for their market group, but also create personalized ads as well.
2) Retargeting: Retargeting allows for marketers or advertisers to reach an audience who have previously interacted with their product or service in some way. This can mean simply visiting a brands website, or having had an item in your cart but not proceeding with the final purchase.
3) Real-Time Bidding: Similar to financial markets, RTB allows for the buying and selling of digital ads in real time auctions. This makes it so that advertisers can bid on inventory and reach their target market effectively.
4) Display Ads: Display ads are ads that pop up on websites, YouTube, Gmail, and more in the form of banners or texts. However, these ads are placed on websites relevant to the advertisers target audience, and are not random.
5) Video Ads: Video Ads is just as it sounds, its an advertisement that contains a video. Typically seen on YouTube, these ads can appear in the beginning, middle, or end of watching a video. However, these ads can be placed on social media platforms, websites, and any video-sharing platform.
6) Shopping Ads: Shopping ads are convenient for drawing the attention of your target market by showing pictures of the product, titles, prices, store name and more. For products, shopping ads can be highly effective for drawing in more customers and more sales.