Good programmatic advertising has been known to have the potential to achieve the best results for brands such as; broaden their audience to reach twice as many unique users, increasing conversions as high as 30-50% and maximizing ROI. This is hardly possible in most cases as media buyer do not leverage on this potential to achieve set advertising goals thereby hindering performance of their campaigns.
The following are the most common mistakes made by programmatic media buyers;
- Unclear/overambitious Campaign Goals
It is very common for advertisers to want to achieve too many goals at once to make the most out of their investment. Advertisers and media buyers should make sure to set precise campaign goals like; to increase awareness of a product, improve online conversion or traffic. This goals should be clear and precise to align with the most appropriate programmatic tactics.
- Failure to Segment Audience Data
It is important that an advertiser filters all the different segments of audience data in order to target the exact audience for the brand. By using dynamic programmatic reporting, marketers can create profiles that allow for real-time segmentation and thus increased performance.
- Failing to Diversify
Advertising is best effective when you can reach your target audience across multiple channels. Even when one channel may perform very well it is advisable not to get too comfortable and refuse to explore other options.
People now access the internet and verify information from multiply channels in a very short time. It is important to reach your target audience in as much channels as possible, it is only then that you can have effective campaigns.
- Under Budgeting
While it makes sense for an advertising to start a test with a small budget, it will lead to poor performance if the advertiser commits with an abnormally small budget. The biggest obstacle working against digital advertising is a budget that is too small.
To achieve, the best results advertisers should have a reasonable budget to start with.
- Being Superficial
It is important for advertisers to monitor campaign progress in other to know which channel or format is getting the best clicks and results to better optimize such channel(s) to achieve the best results. Instead of just looking at the overall CTR, check to know where the clicks are coming from to know whether to invest in mobile more than desktop, new demographics or other opportunities in the future.
Not being superficial is better because it helps media buyers look for way to improve.