Buying and selling advertisements digitally have never been easier than it is today. Scores of dedicated marketers plan, create, and effectively place ads online to attract an increasing number of people to their respective brands.
Consequently, what traditionally took weeks and months can now be done within seconds with an efficient demand side platform. For the uninitiated, this article will explain this critical concept and detail excellent reasons for advertisers to use it.
What is a demand side platform?
Often simply referred to as DSP, this is a new and improved way for marketers to leave their mark on the digital advertising world. A coveted platform is a structured software that enables a plethora of advertisers to buy search, mobile, and video ad inventories from a vast marketplace where numerous publishers (or SSPs: Supply Side Platforms) list them.
Ultimately, the platform enables automation of the entire advertising process, from buying and selling to the eventual marketing or display. This process is called programmatic advertising.
Since this digital process barely takes seconds or a couple of minutes, it has become highly sought-after among marketers, resulting in the global DSP market growing by millions each year.
Why digital marketers should use DSPs?
Relying solely on traditional marketing will incur an enormous expenditure in money, energy, effort, and time. Moreover, there is always the risk of whether or not the advertisement will work.
The effectiveness of DSPs can change all that instantaneously. Thereby, the following are highly critical reasons why using them in your marketing campaigns can be highly fruitful.
- Faster and more effective
DSP is a lot faster than traditional marketing since it eliminates the need for proposals, tenders, quotes, and an array of other essential things. It is a technology-driven process that relies very little on manual labor, effectively enabling marketers to reach their targets. It also reduces errors considerably as there is less human intervention.
- Excellent use of finances
Typically, most platforms offer a fixed monthly rate that renders constant price negotiation pointless and unnecessary. This fixed monthly fee makes it easier to plan a marketing budget and stay within its boundaries. Moreover, there are no variable costs, with the DSP targeting suitable markets for your ads. To do this, the platform targets individual users, their location, browser history, and other key data.
All this eventually guarantees that your finances are used appropriately and with less risk of running into losses.
- Advanced targeting methods
A demand side platform uses expert methods to find the most productive inventories for your ads, ensuring they make innumerable impressions across the global digital space. This type of advanced targeting is meant to collect specific details such as the user’s geographical location, online behavior, browsing habits, etc. In the end, this valuable data is what enables DSPs to help online advertisers reach the type of audiences they desire.
- More choice of inventory
DSPs can help you reach and choose from an unlimited number of ad inventories online in a mere couple of seconds. You have the opportunity to connect with multiple ad exchanges and reach priceless prospects in real-time. Moreover, since the options are ever-increasing, the choice of ad inventory will inevitably keep getting broader by the day.
DSPs have changed the overall landscape of digital advertising tremendously in recent years. Depending on the platform they choose, online marketers have easy access to over eighty-five percent of all inventory through them. Therefore, rather than working with numerous diverse websites, advertisers now have tools that give them unlimited access to various publishers and consumers in the market. With the correct and efficient use of targeting filters, they can directly reach any specific target group with incredible precision.
- Greater ROI
When you use a targeted approach via dependable DSPs, you can be sure that your investment will get excellent results. That’s because there is less risk of the ads backfiring as they are displayed on sites specifically designed to host them.
Unsurprisingly, these platforms can be especially crucial for marketers on a tight budget, who simply cannot risk spending too much on campaigns that carry high risks. They prefer putting their money in platforms like these that can get them guaranteed returns, often more than the initial investment.
- Extra features
Using DSPs gives you access to a wide range of fantastic features that can help push your business forward much faster. For instance, you can use sophisticated content management systems to create impactful campaigns. These systems enable you to use a single-centralized approach to create ads just like you’ve imagined. Dayparting is another effective tool for a successful advertising campaign, ensuring customers respond to the call to action in your ads at a specific time of the day.
The best perk of using DSPs is that they offer detailed campaign statistics such as page views, site traffic, and click-through rate so that you can track progress.