70% of the stock market worldwide is computer automated, so if we’re trusting computers with that important and delicate balance – why not radio ads too?
There are three main trends when it comes to programmatic advertising, Matthias Mroczkowski (Audio CC, Germany) said. Firstly, there’s the buying process, which needs to be automated, optimised and as easy as possible for the media-buyer. Secondly, there needs to be computer powered media planning. And, finally, broadcasters need to use real-time data, powered by APIs and live feeds, to make it work.
Matthias demonstrated Audio CC and how it generates media plans instantly that fit a set budget based on a range of factors. For example, if you’re a retail store, you might not want Sundays and evenings included in your media plan when the store is not open. The software automates the media planning process and tests have shown that the plans are consistently better than those that are human-generated. Furthermore, the ability to generate a media plan in seconds is a powerful tool for sales executives to show a client in a meeting and get them to agree on the spot – speeding up the entire sales process.
With programmatic advertising, there’s no lead time. You can get spot ads on-air in less then one minute. Advertisers can also buy in real-time, occupying slots that would otherwise be left empty: more or less spots can be generated automatically depending on a range of factors such as traffic, stock levels, weather, gas prices or breaking news. As an example, for another retail store that sells jackets, in cold weather spots could be automatically shifted from a city where the store has sold out to another city where there’s lots in stock.
Overall, for advertisers and agencies, programmatic broadcast gives you great reach, air campaigns more precisely and better target your customers. For radio stations and sales teams, you are better placed to convince customers to advertise on radio and cover the need of the agencies.