15 Jan Common Mistakes In Programmatic Advertising
Despite advances in technology and a better understanding of attribution, some marketers still see programmatic advertising as somewhat of a risk. There are common misconceptions and a lot of information in the digital advertising space about programmatic buying. As a result, it can be an overwhelming topic to navigate.
The best way to learn about programmatic marketing is to understand some of the most common mistakes advertisers make when they first implement it in their digital marketing strategy. Here are the top four common mistakes marketers make with programmatic advertising campaigns.
Mistake #1: Choosing a black-box solution
“I turned off all paid media after trying programmatic.”
We hear this from time to time when brands feel that they never received any insight into the allocation of their Digital Media budget. As a result, they often feel scammed by the agency managing the budget. In this case, it’s important to ask what type of attribution model you’re using to measure the impact and effectiveness of your online ads, and also which audiences you’re targeting. If you aren’t able to answer those questions, you won’t have any visibility into how your media buying strategy is working, or even if it is working at all.
It’s understandable why a brand might turn off paid media after feeling that their advertising budget was misused. However, paid media is still an essential piece of any successful advertising strategy. To avoid a situation like this, find a digital marketing agency that uses a clear, transparent, attribution/purchasing model. At DELVE, we walk you through your ad spend and explain every step we take as we buy and sell ads. Transparency from your agency gives you honest data and provides you the information you need to take action.
Mistake #2: Relying on the last-click attribution model for Programmatic Prospecting Campaigns
We regularly speak with marketing teams that rely on the last-click attribution model during Programmatic Prospecting Campaigns. Unfortunately, last-click attribution is outdated, and it’s a surefire way to blow your marketing budget and gain zero insight into conversion rates.
Programmatic awareness campaigns sit at the top of the conversion funnel, so it’s better to measure results from this type of campaign with the first click or first impression attribution model. Even better, Google Analytics 360 allows you to use a data-driven attribution model for custom measurement.
Therefore, it’s important to use a specific attribution model for different types of media campaigns. If you use an attribution model better suited for lower-funnel retargeting campaigns, all the conversion credit will go to the retargeting campaign instead of the awareness campaign. This leads marketers to invest more in retargeting campaigns when, in reality, their awareness campaign may be working much better, and therefore more worthy of additional investment.
Mistake #3: Not investing in Creative
Here’s a statistic from a recent Google conference: 90% of all Display ad spend goes to reach with only 10% going to Creative. Yet 80% of what drives customer acquisition is their attraction to creative.
It’s a given that you want to reach the most high-value target audiences with your budget. But if you reach the right audience with the wrong Creative, you waste a significant portion of your budget. Quality Creative over quantity of Creative is a staple in any marketing campaign. Especially in campaigns that serve thousands of iterations of your ad.
Mistake #4: Not investing in Programmatic Display
We get it- programmatic advertising can seem intimidating. You might have tried it with a small test budget and failed in the past. But don’t give up yet!
Create a foundation of clean, trustworthy data and invest in Programmatic Display. Target high-value audiences and utilize correct attribution models. The result? A brand set up for success with programmatic marketing- ready to capture market share.
Learn more about how you can get started with Programmatic in our blog post here. And visit our website to learn more about our team of experts in Programmatic and beyond.