It’s more important than ever for marketers to stretch their budgets and make the most out of every opportunity. By taking a more data-driven buying approach to their marketing plans, marketers can make better decisions, maximize budgets, and support intelligent price discovery. Read the full article to learn more.
Although economic uncertainty can prove challenging for many advertisers, the most sophisticated can use it to drive innovation. While there are billions of advertising opportunities available on the internet, successful marketers recognize the value in taking a data-driven buying approach and treating their marketing plans as an investment instead of an expense.
As many marketers adjust their spend in anticipation of an economic downturn, we’ve made some recommendations for strategies that can help you make better data-driven decisions, maximize your budget, and support intelligent price discovery.
Enable AI tools, like Predictive Clearing
After an initial base-price for an impression is generated, Predictive Clearing (if enabled) kicks in. This permits machine learning to process an array of historical platform-wide data points and to determine what you could bid –– without paying more than necessary. By using the lowest bid to win, the AI increases the likelihood that you’ll pay an optimal price for the impression, which in turn can help lower your cost per acquisition (CPA).
Some marketers, when pairing a diverse set of targeting strategies with Predictive Clearing, have seen a 100 percent reduction in CPA in the first month of a campaign.
This feature is highly effective in both performance and awareness strategies, as the savings generated through Predictive Clearing can be reinvested in the campaign to optimize your budget and help achieve your goals more efficiently. By unlocking these additional resources, you can stretch your budget further and achieve better results.
You can activate Predictive Clearing in the Base and Max Bid tile under Optimizations.
Transition to decisioned media through private marketplaces or the open market
For many, nothing is more important in uncertain times than flexibility. Buying decisioned media, meaning bidding on each impression with a different price, instead of programmatic guaranteed (PG), can allow you to take advantage of every single data point available to make the most informed, and oftentimes the most cost-efficient, decisions that ultimately reach business outcomes.
The two biggest advantages of buying decisioned media are advanced frequency management and controlling the devices your ads are running on.
- Devices: Our platform empowers you to target audiences on exactly the devices you want, with the added benefit of seamlessly shifting budgets toward what’s performing best.
- Frequency caps: On our platform, you can frequency cap across devices and channels, which helps to ensure you’re not overspending by showing ads to the same people again and again.
Find out more about PG and private marketplace (PMP).
Consolidate your campaigns onto a single platform
If making data-driven decisions can support business outcomes, then consolidating that data into a single platform is a power move. When running your omnichannel campaigns across multiple platforms, your valuable audience data can be spread thin. This data collected across channels is critical to informing the learning models that help drive performance.
Furthermore, you can work toward unlocking the full potential of your advertising budget with advanced cross-channel frequency management and frequency savings reporting.
If you’re interested in getting the most out of your advertising in 2023 — whether that means working smarter and not harder or spending your valuable dollars more wisely — reach out to your account manager today.