Why CMOS, senior level marketers need to leverage programmatic advertising
By Zion Rufus
As consumer expectations on how brands meet their needs continue to rise, there is also an increased pressure on marketers to utilize data insights and algorithms to serve ads to the right audience at the right time, and also to demonstrate quantifiable impacts to a company’s critical metrics.
In order to succeed in an era of full blown digital marketing and data analytics, CMOs are now, more than ever, required to leverage the offerings of programmatic advertising. Programmatic advertisers have greater visibility into performance data as it helps them to better plan, activate, measure, and optimize campaigns.
For marketers, advertisers, and publishers, programmatic advertising can be used to to boost ad efficiency and establish transparency, capture the right audience, gain a competitive edge in the market, and drive quantifiable business outcomes through the application of technology to automate and optimize the planning, purchasing, execution, and analysis of digital marketing across channels.
Some programmatic ad channels include Display Ads, Video Ads, Social Ads, Audio Ads, Native Ads, and Digital Out-of-Home.
Global advertising spend for Programmatic is expected to accelerate to nearly $100 billion in 2022 according to statistics released by ROI Revolution; according to statistics from MediaRadar, as of Q2 of 2020, the percentage of digital advertisers utilizing programmatic ad tech rose to 83%.
However, recent surveys have revealed a knowledge gap about what programmatic is and its effectiveness. Per Statista, the African country with the highest spending on programmatic advertising in 2021 was Egypt, with an expenditure of 557.57 million U.S. dollars. South Africa and Morocco followed, with 395 million and 248 million dollars, respectively.
“Advertisers in Nigeria are yet to fully leverage programmatic marketing and advertising and this is simply because of lack of data,” said Oti Ukubeyinje, President, Association of Digital Marketing Practitioners (ADMARP).
“In Nigeria today, we lack a lot of data to help inform effective programmatic advertising. So we purely rely on advertising platforms like Facebook and Google to do that for us. I would say Nigeria is only utilizing about 20-30% of programmatic possibilities. Most programmatic platforms in Nigeria are starved of the data to help the platform do its job,” Oti opined.
He explained further: “In advanced markets, Telcos, financial service providers, retail companies, etc. play a big role in providing the insights and data that help to power programmatic campaigns. There are also other third party data platforms that gather, clean and resell data with high levels of privacy and security compliance.”
To bridge this divide, Programmatic advertising platform, Eskimi which combines programmatic, big data, research, creative innovations and digital media into a powerful platform to create and reach unique audience segments for Telecom, FMCG, Financial, and other business sectors is launching a CMO Masterclass to educate prospects and customers on marketing in the age of digital and how organizations should position themselves for business growth and sustainability by leveraging digital technology.
To attend the CMO Masterclass slated to hold in July, interested parties can contact [email protected]for more information.
Eskimi data management platform has over 100+ data points for advanced segmentation with about 30+ data points about every customer in the platform, hence it provides the opportunity to target only relevant audiences in terms gender, age, location, operator, it enables targeting based on browsing patterns and also interests.
RECOMMENDED ARTICLES
Comment
No comments found.