Apartment complex owners who want to cut their marketing budget while strategically targeting their advertising are turning to programmatic media buying.
Programmatic Media Buying Explained
Do you remember how difficult comparative shopping and informational research used to be before the Internet? If so, you certainly know the incredible value of software algorithms and data analysis.
In short, when you search for something online, you are letting state-of-the-art technology do most of the work for you, thereby making your search far easier, faster, and more efficient. Online searches can also help you focus your efforts in the most fruitful areas and save you a tremendous amount of money.
Programmatic media buying works much the same way in the world of Internet advertising. While traditional manual methods of purchasing online ads is both time-consuming and labor intensive, programmatic media buying employs automated processes to executive targeted purchases across a wide spectrum of digital channels that include desktop/laptop, tablet, mobile, connected TV, and outdoor digital media formats.
Programmatic media buying involves the use of a particular type of software called a demand-side platform (DSP), which allows agencies and advertisers to buy media inventory across a multiple channels. Because the automated DSP purchasing process is so fast, it can sort through incredibly large amounts of digital advertising options to target the exact right consumer at precisely the right time.
Through a DSP, marketers can also buy media inventory at an exceptionally good price. This is because programmatic media buying works through automated platforms that employ cost effective processes such as real-time bidding (RTB). Also called “open auction,” RTB sells media inventory to the highest bidder, allowing marketers to target the most viable consumers at rates that are often far below average market value.
The Popularity of Programmatic Media Buying
Considering the tremendous amount of work and lack of efficiency that go hand in hand with the traditional media buying process, more and more agencies and advertisers are benefiting from the speed, ease, and cost-effective benefits of programmatic media buying. In fact, trusted industry news outlets that range from Ad Age to eMarketer have identified programmatic media buying as an essential component in the future of marketing.
In fact, eMarketing projects a considerable increase in programmatic media buying over the next year alone. According to this research, roughly 58 percent of live video and video-on-demand ad spending occurred as a result of programmatic media buying processes in 2019. By 2020, however, this figure will jump to approximately 80 percent.
Programmatic Media Buying for Apartment Marketing
As the number of advertisers using programmatic media buying continues to rise, companies across a wide range of business sectors and markets must leverage the benefits of this technology if they wish to remain competitive.
The unique characteristics of apartment marketing make programmatic media buying particularly valuable within this industry. In particular, apartment marketers stand to benefit from the highly targeted nature of programmatic media buying.
Since only a small percentage of the general public will be interested in renting any specific apartment unit at any specific time, multifamily residential marketers absolutely love programmatic media buying’s ability to reach out to an exact audience base that is severely restricted according to geography (where a prospective renter lives) and demographics (age, gender, income, etc.). Programmatic media buying can even target digital media users according to their unique personal interests and daily behaviors.
Using a Qualified Marketing Agency for Your Programmatic Media Buying
A July 16 article by the independent news outlet Target Marketing has determined that nearly 47 percent of advertisers are now performing programmatic media buying in-house. However, article author Lina Lugova recommends that advertisers coordinate their programmatic media buying through a qualified and specialized marketing agency for a number of important reasons.
In particular, forward-thinking marketing agencies that were able to predict the tremendous value of programmatic media buying have employed the best and brightest of industry professionals with a depth programmatic skill, knowledge, and experience. These agencies are also well connected with multiple leading online traffic platforms and resources, enabling them to negotiate the absolute best prices for media inventory.
Contact Bigeye Today
Want to learn more about programmatic media buying and the apartment marketing solutions that it provides? An agency that has earned a widespread reputation for innovative thinking, Bigeye specializes in leveraging state-of-the-art technology to boost your bottom line. A skilled and knowledgeable Bigeye representative is standing by to explain how programmatic media buying can set you apart from your closest competitors.