Remarketing and Programmatic Advertising
What is Remarketing?
Have you ever visited a website like Amazon, but didn’t purchase anything? And all of a sudden you see ads on Facebook that are relevant to what you visited on Amazon. This concept is known as remarketing. Remarketing occurs when advertisers track your internet activity and deliver ads bases on the actions you have taken online. This helps ensure the ads you see are actually relevant to you. Just think about it, most ads that you don’t see online are not relevant to you. But with the rise of social media, it is so much easier to target the correct people to see your ad. While you are browsing online, you leave cookies. These cookies tell digital marketers’ things like: what pages you have visited, the products you have looked at, and how long you stayed on a site. The list doesn’t stop there, they are able to find out a lot of information about your online activity based on your cookies. Through these cookies, an online store like Amazon can tell if you added something to your cart and then left or if you were just browsing through items. With this information, Amazon is able to remarket and deliver different ads to what that user did before so the information is most relevant to them.
This process of remarketing can help businesses in many different ways. I would argue the best reason is it saves money. When you put out a specific ad it only serves the people that they are relevant to. At the end of the day, you are spending less money, but gaining better quality traffic. While remarketing, you should try to invest more on ads about shopping cart and conversion abandons and less on ads about homepage and non-converting page visitors. Someone who has already added something to their cart, but left, is already so far down the marketing funnel. Investing more money in ads for them will increase your ROI in the long run. On the other hand, someone who just checked out your homepage and then left is not as valuable, in general, that you need to spend a lot of money on ads towards them.
What is Programmatic Advertising?
According to LinkedIn Programmatic, Kenneth Kulbok, “Programmatic is buying digital advertising space automatically, with computers using data to decide which ads to buy and how much to pay for them”. Digital ads used to always be bought and sold by human ad buyers, but with programmatic advertising you can do those same things but more efficient since it is automated. The automation of this process allows marketers to decrease delays that humans run into. The cool thing about programmatic advertising is you can incorporate remarketing into it. Using automation can help you save time with what ads you are using. Using data from consumers can also help make sure the ads the consumers are seeing are the most relevant to them. If you want to maximize your success with advertising, you should use both remarketing and programmatic advertising.