Demand-side platforms revolutionized the digital marketing world. With their great capabilities, such as precision in targeting, real-time bidding, and multichannel reach, they have irrevocably put the power of ad campaigns in the hands of marketers. Still, your strategy should be pretty solid to match up to that strength. This is necessary to truly take advantage of all a DSP has to offer. This guide will provide you with step-by-step process of building a successful marketing campaigns on an advanced DSPs (Demand-side platforms) to ensure success.
Begin with Crystal Clear Goals
Prior to the running of any campaign, define what your goals will be. Without crystal clear goals, not even the most advanced DSP will help you reach your desired outcomes. Whether it be increasing website traffic, boosting conversions, or raising brand awareness, each goal should have an individual approach.
Best Practice: Align your campaign goals with specific KPIs. For Example:
- Brand awareness: Impressions and reach.
- Conversions: CTR and CPA.
- Web traffic: Track the number of site visitors and the length of their average session.
Stat to Know: 376% more marketing campaigns prove their ROI when goals and objectives are defined, per CoSchedule’s survey. Keep reading our step-by-step process guide of building marketing campaigns on an advanced DSPs (Demand-side platforms) to ensure success.
Know Your Audience: Marketing Campaigns With Advanced DSPs
A demand-side platform is great for targeting, but it’s up to you to define whom you’re targeting. Sophisticated DSPs let you go deep into audience data. You’ll be able to use first-party data of your own, second-party information passed on by partners, and third-party data from external providers to create a highly specific profile of the audience you want to target.
How to Define Your Audience:
- Analyze demographics. Age, gender, income, and location are key starting points.
- Track behavioral data. Consume data on past purchases, browsing behaviors, and engagement with your content.
- Segment your audience. Segment your audience into granular groups based on interest, behavior, or purchase intent.
Stat to Know. 72% of consumers only engage with personalized messaging. This means proper audience targeting is a major key to making your marketing campaign successful advanced DSPs.
Use Real-Time Bidding (RTB) for Efficiency
Once your audience is defined, it’s time to bid for ad placements using real-time bidding. It lets you automatically buy ad inventory in real time through auctions, so your ads are shown in front of your audience at the exact moment when they are most likely to take action.
How Real-Time Bidding Works:
- Ad inventory becomes available. When users visit websites or open apps, ad spaces become available to be bid on.
- Instant auction. Your DSP places the bid based on your campaign settings: budget, targeting, and bid amount.
- Win the bid. Your ad appears when your bid is the highest of the participating ones.
Key Tip. Keep your bid reasonable by starting with a smaller bid and increasing it as the performance results come in. Be watchful when changing your bidding strategy so you do not over-invest in under-performing placements.
Optimize Creatives for Multi-Channel Campaigns: Advanced DSPs Marketing
With DSPs, you are not confined to one ad format or even channel. Advanced platforms let you run your ads across websites, mobile apps, video platforms, and even connected TV. But to really get the most out of your campaign, creatives need to be fitted to each format and platform.
How to optimize your creatives:
- Optimize creatives by platform. Ads created for desktop display simply won’t work as well on mobile or CTV. Make sure each creative is fitted for the channel you are targeting.
- Use video to spur higher engagement. On average, video ads see a 1.84% CTR – higher than any other format. Where possible, use video in your strategy.
- A/B test creatives. Run different versions of your creatives in order to learn which works best with your audience. This will help continuously refine the overall campaign performance.
Stat to Know. According to research, 58% of people trust a brand more when exposed to its video ads, while only 32% feel this way about banner ads.
Set and Manage Your Budget
Advanced DSPs give comprehensive control over budgeting. You can set an overall budget, a daily spend cap, and shift allocations on the fly as you monitor performance. But how do you know how much to spend and where? Here’s how you can successfully manage your budget:
- Distribute according to efficiency. Spend your budget on a variety of channels. As you start collecting data, move an increasing amount of budget into the channels that deliver the best returns.
- Use frequency caps. A frequency cap prevents any one user from seeing your ad too many times in order to avoid overexposure. Not only does this help avoid wasted ad spend, but it also saves your brand from becoming annoying.
Key Tip. Not necessarily look at how much you spend but how smart you spend. An ad properly targeted for a lower price beats an ad expensively placed because it gets in front of the right people.
Stat to Know. For every dollar that businesses spend on Google Ads, $2 in revenue is returned on average; a fact that proves efficient budget management can very well double up your ROI.
Conclusion
The potential of any successful marketing campaign on an advanced DSP demands a clear strategy with precise targeting; hence, the need for follow-up and continuous optimization. By following the steps above, you’ll make sure your campaign’s output gives measurable results, improves ROI, and drives your business forward.
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