Myths Of Programmatic Buying: Part 2

Myths Of Programmatic Buying: Part 2

In our first article of this two-part series, we looked at the myths surrounding programmatic media buying, such as the myth that programmatic can only access remnant inventory and that programmatic buying is simply technology-based media buying.

In this article, we will take a look at some more of the myths surrounding programmatic buying that should give you a better idea of the industry and the media buying landscape.

Myth: Programmatic only focuses on display

Wrong again. It’s true that programmatic buying became famous for its utility in Display media. It recognised that there was value in the remaining inventory for which there was very little demand. By making the process of buying more efficient, programmatic buying created a demand for the unused ad space. As programmatic buying evolve, new channels for programmatic have emerged, some of which include social, video, mobile and tablet. In fact, value of the programmatic buying industry is predicted to treble its value to a staggering $33 billion by the year 2017.

Myth: Programmatic buying is synonymous with Audience Targeting

Programmatic used to operate on a less sophisticated model than it does today. It was a model where only the third-party data was used in targeting – things like intention to purchase or demographics, for example. Nowadays, the programmatic buying process involves ‘data activation’ of the first-party data of either the advertiser or publisher. Instead of “renting” data, you now own it. This is where much of the value lies in the world of programmatic buying. Advertisers can now target their audience using their customers’ unique data. One area where this functionality might come in handy would be in filtering customers who have already completed transactions offline.

Myth: Agencies are facing extinction because of programmatic buying

Trading desks, ad networks and exchanges, and publishers are the main groups managing spend on programmatic buying for advertisers. Most agencies, although very skilled in providing creative, strategy and a holistic view of media to advertisers, often lack the ability to execute programmatic buying in-house. For this reason, most service-based agencies will outsource the programmatic media-buying component of their campaign to groups that are solely dedicated to, and talented in, data and media buying, such as trading desks.

Some believe that full-service agencies will soon bring programmatic buying in-house, as traditional advertisers increase their knowledge and understanding of the digital media landscape. Advertisers who are protective of their 1st party data are likely to attempt programmatic media buying in-house. Without the skills or know-how to bid effectively against robust trading desk technology though, this trend is not likely to take off.

Myth: Programmatic is only for acquisition

Traditionally, marketers understood the purchase funnel to begin with brand awareness, and end in purchase, but in the world or programmatic media buying, this linear view of the customer journey has become somewhat redundant.

What was once a journey from perhaps a TV commercial, to a magazine ad, to a radio spot, has now become a complex multi-channel, multi-device media spectrum.

Online, customers interact with brands in a many different ways. With each online customer using multiple media touch-points to access and assess brand equity, brands need to adapt quickly, and present themselves on a myriad of channels, to remain front-of-mind.

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Shai Luft - Bench Media

Chief Operating Officer

Shai Luft

Meet Shai Luft, a senior marketing executive with a proven track record of delivering results for Australia’s largest ASX200-listed companies. Despite his success, Shai was frustrated by the amount of red tape and bureaucracy that held back marketing innovation. That’s why he co-founded Bench in 2012. As the driving force behind Bench’s operations, Shai is committed to empower marketers with the agility and control they need to achieve their best results.

Ori Gold - Bench Media

Chief Executive Officer

Ori Gold

Meet Ori Gold, an ad tech and martech expert. Driven by the frustration of everyday marketers facing a lack of control and accessibility, Ori co-founded Bench in 2012 to revolutionise the digital advertising landscape. Heading the talented and forward-thinking team at Bench, Ori is the driving force behind the company’s strategic and product vision. Thanks to Ori’s leadership, Bench has become one of the most respected and successful digital agencies in Australia.

General Manager

Liam Garratt

Meet Liam Garratt, the creative mind behind Bench’s top-notch products and services. With a career in digital media spanning over a decade, Liam has made a name for himself as a leader in the industry. He got his start in 2011 working for UK-based programmatic platform Crimtan, where he played a key role in launching the company’s Australian office. In 2017, Liam brought his expertise to Bench, where he now leads the Product & Services functions. Liam is passionate about delivering only the highest quality products and services to Bench’s clients. His commitment to excellence is the foundation of Bench’s stellar reputation.

VP of Growth

Anthony Fargeot

Meet Anthony Fargeot, the pioneer behind Bench’s growth and success. Joining Bench in its infancy in 2013, Anthony’s experience with high-growth start-ups gave him the skills to help Bench become one of the most successful digital agencies in Australia. As Head of Client Services and then Director of Operations, Anthony led Bench through its highest growth period. Today, as VP of Growth, Anthony uses his creative thinking and strategic insights to always look for new and innovative ways to help Bench stay ahead of the curve in a rapidly changing digital landscape.