It’s no surprise that consumers are interacting with technology in more advanced ways than ever before, but what does that mean for media buyers? And how can they use programmatic buying to better know – and target – their audiences?
Damian McKenna addressed this issue during his opening keynote at IAB Canada’s X-Series Real-Time Bidding event in Toronto on Thursday.
McKenna is head of new business and business development, media platforms at Google and shared a couple of anecdotal examples of how technology has quickly and radically changed to become part of people’s lives.
His own son, for example, knew how to flip through apps on an iPad when he was only two years old. And when a new pope was named earlier this year, McKenna noticed that so many more people in St. Peter’s Square held up smartphones and tablets to capture the experience than when the same event happened in 2005. Throw in technological advancements like smart cars and (product plug!) Google Glass, and “smart devices are going to be more embedded in our everyday life.”
How should planners and buyers adapt to technology’s impacted on people and commerce? It boils down to using an “audience approach,” he said, in which data about consumers is used to deliver the right messages to them in real time.
McKenna said there is an “abundance of data” of consumers’ behaviours and interests now available from the technological trail they leave through things like searches and online purchases.
But that data isn’t being utilized as well as it can be yet, he said. Ninety per cent of the time, planning and buying are still done in a very traditional way, said McKenna.
That said, RTB is causing a “fundamental shift” in how media is bought, said McKenna. Those not yet using this method of buying aren’t alone; “It’s the first inning” of programmatic buying, said McKenna.
He outlined an overall framework of what the audience approach and getting into the RTB space entails:
Collect your audience signals
It sounds basic, but use a single tag on your website to collect data, understand what’s happening there and how people are using it. Consumers are sending in information on their behaviour in real time – you need to collect it, said McKenna.
Learn about your audience segment
McKenna said media or data providers like – not surprisingly – Google and other third-party suppliers can help you begin to understand your audience signals. There are several types of these signals, from demographic to contextual to behavioural.
Engage with your audience through programmatic buying
Being in a programmatic environment involves using technology for an integrated solution that allows you to engage with your consumer, he said.
Advertising becomes more effective and efficient when audience signals are used, McKenna said. In a packed room where only a tiny fraction of attendees raised their hands when asked who has worked for three years or more in programmatic buying, McKenna acknowledged again that the space is new – but is one that’s rapidly growing.
