Traditionally, ads were produced in print, and the choice of advertising channels was limited. Then the digital transformation started in the mid-90s, which in time completely transformed the field of marketing. Today marketers can choose between hundreds of channels for advertising.
Although choice is a luxury, the amount of options we are exposed to today often causes confusion and headache. After all, a new strategy must be applied for every chosen medium. I will attempt to lighten some of the confusion by explaining the common terminology used in real-time marketing.
It really all says it in the name. Real-time marketing is about delivering content to the consumers in real time. That means that marketers can edit the ad content when the ad is live. The intention is to strategically take advantage of social happenings and behavior to create engagement with consumers.
Programmatic advertising is about gaining insight into interests of individuals and targeting the right audience. Today's technology combined with real-time marketing creates great opportunities for marketers to collect consumer behavior data. Cookies, for example, can track personally identified behavior.
Programmatic buying is a term used to describe the automated process of delivering ads to the right audience in real-time. While real-time bidding is included in programmatic buying, it can also be excluded from the process, like with Facebook Ads API and the Google Display Network. Programmatic buying can be purchased directly through a publisher, private marketplace or a real-time exchange.
Real-time bidding (RTB)
RTB will help keep your marketing budget by allowing you to control the reach and frequency of your ads in real time, The technology is based on a second-price auction. The highest bidder wins the auction and pays the price of the second-highest bid and a penny more.
Dynamic content creation
Dynamic content allows you as an advertiser to create personalized content based on the reader's localization, timing, interest, and behavior. The main goal is to provide the reader with relevant content at all times.
In our dynamic market, consumers expect brands to deliver relevant content that's in sync with social happenings. With dynamic creatives you can change content in real-time, making it possible for your brand to keep up with current news and create social engagement.
Dynamic Creative Optimization (DCO)
Dynamic creative optimization is an ad display technology that automatically optimizes ad creatives based on multivariate testing. Using DCO is similar to performing several A/B tests at the same time, and using an algorithm to interpret the results.
Dynamic creative optimization allows marketers to put the right message in front of the right consumer. It makes it possible for you to differentiate and customize the ad creatives. It's an extremely effective way to increase a campaign’s performance.
Are you curious about dynamic creatives? Have a look at out checklist to see if it's a suitable marketing strategy for your brand: