Senior Account Manager
Posted on September 4, 2017
The extreme proliferation of digital media space now means that it is impossible for media planners and brands to know everywhere they should be advertising. Programmatic strategies overcome these issues by robotically buying ad space on a web page. Alongside this, audience signals are collected to ensure that the right ad is served to the right person and exactly tailored to their needs.
Types of programmatic strategies
Let’s familiarise ourselves with the different programmatic strategies that allow automated advertising. (It’s worth noting that all of these are applications of ‘programmatic marketing’, even prospecting and retargeting):
- Prospecting seeks out new, potential customers
- Retargeting focuses on users who have already been to your site
- Programmatic aims to reach specific audiences using data findings
Which is best suited for your financial marketing?
The best strategies are always tailored to the different stages of the customer journey.
If you’re looking to attract new visitors to your site or capture the attention of your ideal customer who is in the consideration stage of their customer journey, than a prospecting approach is for you. For example, a structured products provider could advertise a new deposit plan on the Financial Times website; this strategy creates recognition and ensures your brand stays front-of-mind. But it is less targeted than the alternative strategies in order to draw a large pool of visitors to your site.
Focuses on users in the conversion stage of the buyers journey, who have shown some form of interest in your product or service but haven’t yet converted. For example, they clicked on the prospecting ad promoting your new deposit plan, viewed all the information on your site and clicked on the call-to-action to get in touch with a member of the sales team – but didn’t actually make the call. Retargeting uses this signal of interest to show a relevant ad the next time you have an opportunity to speak to this customer, increasing your chances of encouraging them to invest in the plan.
Finally, if you’re seeking a highly targeted way of converting prospects, then a programmatic strategy is best suited to your financial marketing. Programmatic is the fastest growing advertising channel today and is fundamentally changing the way in which advertising is bought and sold, by using in-depth data analysis. For example, if a customer searched for ‘deposit plan with structured risk and return’ on their laptop and then visited a Financial Times article on the subject, they will have space on their site devoted to advertising. Via a programmatic marketplace, the structured products provider can place bids in real time to buy this space to promote their new deposit plan. The chosen programmatic marketplace cleverly recognises the users visit as an impression. The Financial Times sets the parameters of the impression (e.g. what device is the user using), the Financial Times then submits a bid request to the programmatic marketplace where they hold an auction for this ad impression and the structured products provider wins the auction. The deposit plan ad is then served to the user who is providing signals they are ready to convert.
All of these display strategies are extremely effective when used at the right time and if you know exactly who your target audience is. In a few weeks, we’ll be walking you through programmatic signals to ensure your programmable marketing efforts are highly effective.