Highlighting value, actioning first-party data, and leaning into new tech will make for winning travel and tourism campaigns in 2024.
Sweat is dripping down your face. You’re in a panic because your boss just asked you to research programmatic media buying technology and you have no idea where to start. You decide to ask Google. The first thing that pops up in your search is Demand-Side Platform (DSP). And then you think to yourself – I’ve heard this term before, but what is a DSP and will it actually help us navigate programmatic advertising?
Well, the good news is at Centro, we understand what it means to jump into programmatic and how leveraging a DSP can help. So let’s start by briefly discussing what a DSP is and what it can do for your business. A DSP is software that empowers advertisers to bid, buy, and place digital advertising across multiple exchanges, in a variety of formats, and on multiple channels (video, mobile, display). In the same way that search engines use keywords, a DSP uses behavioral and demographic data to help you target ads to specific audiences. Using this level of data and insight gains you access to your consumers in the right context at the right moment. What’s more, DSPs allow you optimize your campaign tactics in real-time, which means you only buy what works. If you’re going digital, and you want the efficiency and scale of programmatic; buying impressions on mobile, desktop or video, then a DSP is what you need.
So now that we’ve nailed down the basics, let’s dive a little deeper into the details. Below are a few questions your boss is probably going to ask when you report back to him – and we’ve got the answers so that you’re one step ahead.
What’s the reach potential with a DSP? Will it help us grow our audience?
Adopting DSP technology is the most effective way to get your message in front of the people who matter – the amount of inventory is tremendous and the reach is virtually unparalleled when compared to traditional advertising methods. Many DSPs focus on this as a major selling point. The number of websites selling biddable inventory is practically immeasurable, and most DSPs have relationships with the biggest and highest quality exchanges. DSPs, like Centro DSP, offer access to a pool of potentially 40 billion+ impressions per day. As a result, DSP technology allows you to precisely target your audiences across mobile, video, social, and display, so you can run efficient cross-channel advertising campaigns of every scale. This level of automation offers greater reach than any manual process ever could.
If we’re not experts in programmatic, how much help are we going to get? Will we have to work alone?
Today, some DSPs boast “white glove” service offering you everything from a fully managed relationship all the way to self-reliance – and everything in-between. For example, Centro DSP puts you on the path toward self-service by offering as little or as much customized training and support as needed. You’ll learn the ins and outs of building, managing, optimizing, and reporting on campaigns through your own branded interface, while working with a team of Centro experts to elevate your brand and build your own in-house programmatic team.
Will a DSP help us zero-in on local targeting?
Many marketers are using DSP technology to conduct programmatic buying of local inventory often on a large scale basis. DSPs enable advertisers to target (and retarget) mobile users via device IDs. You can also access GPS information from individual mobile devices, which gives you the exact location of your consumer at any point in their day. This level of data makes it possible to leverage a host of targeting tactics including geo-fencing, contextual, hyperlocal, and more. As a result, businesses of every scale are adopting DSP technology and making local a critical component of their marketing strategies.
What does a DSP cost to implement?
Many DSPs have high barriers to entry and pricing can vary greatly from platform to platform. The cost associated with a DSP often depends on the price of the campaign, or the media budget you commit to the platform. Typically, a platform fee is included, in addition to a minimum monthly charge or annual spend. This commitment is usually required to either sign an agreement or maintain the original platform fee rates.
How will this technology make our advertising more effective and our team more efficient?
Instead of thinking in silos, and logging into multiple applications, some DSPs provide a granular, real-time view of campaign performance, as well as the ability to deep-dive optimize each one – all controllable from a single interface. Control is the key to empowerment, and visibility into your campaign data is crucial to gaining actionable insights and learnings. With this data in-hand, you’ll know what’s working and what’s not in real-time so you can make the best possible decisions for the campaign, your advertising strategy and your business.