A forefront advantage of programmatic ad buying is the ability to shop at multiple ‘stores’. It gives us the ability to shop for high valued inventory and users. This high value user will increase your return but there is a balance between what the value the user is expected to be worth and how much of your ad budget you are expending on this audience.
What tools provide you to find a high value user?
1. First Party Data Modeling
Using platforms that are able to derive audience segments from users who have directly visit your website can be a powerful method of audience targeting. With this, we are can use the current audience segment that engages with your brand to target against particular brand buying behavior. This eliminates time and budget in creating multiple audience segments to test overlap between the selected audience and buying behavior. Using platforms that have the ability to cross reference user behavior with cookie data such as BlueKai and OwnerIQ have superseded their initial cost and time commitment with long-term user value and performance.
2. Data Partner Optimization and Platform Capabilities
With current data platforms and DSP’s, I would highly suggest optimizing 3rd Party audience segments with not only behaviors and contextually relevant content, but also with the cost of the data partner itself. This can be an easy means of trimming unwanted costs and optimizing away from high costing, low performing data partners. There is a trend to be found among partners, similar to the trend found among user behavior.
In addition to honing in on the data partners themselves, it is important to know and understand the competences of a data platform and match these competences with campaign and brand objectives. For a brand awareness campaign, are you able to engage with users on new mediums such as video? For prospecting campaigns, do you have the ability to integrate other data platforms that utilize new data sources into your current DSP? Continually implementing a new data segment into a campaign mix can be a great optimization strategy for audience segmentation. For a direct response campaign, does your platform have device graphing tools that allow you to communicate with the same user across multiple touch points? Answering these questions will help you reach the users you need to reach in a more efficient manner and with the same ad dollars.
3. Smart Retargeting
Everyone in the digital space knows retargeting equates to higher return. But – can we retarget at even a lower cost? With the value of retargeting, it’s difficult to not initially offer higher investments of bid at a higher CPM but try to test CPM metrics with user behavior. It might surprise you to find you are able to bid on more of these users with the same retargeting CPM and campaign budget.
If your retargeting program permit and has multiple messaging and creative tactics – dynamic creative optimization can add value to your current program. DCO creates the ability to retarget with personalization of messaging. For example, you can target an ad to a user that has visited a product page with that particular product. This extends the value of each retargeting impression with granularity of content.