Healthcare marketers and advertisers understand the value in finding new, customized ways to help clients reach their target audience and make use of valuable data, optimize claims processing, meet compliance requirements and solve master data quality problems. Programmatic advertising, for example, is a smart use of advertising dollars that delivers the right message to the right audience at the right time, in an advanced, personalized manner.
Are you leveraging the true power of programmatic targeting when executing your media campaigns? In this series, we’ll break down the basics of programmatic advertising, its benefits and how it relates to the healthcare sector.
Let’s dive into the basics you need to know about programmatic advertising:
What is programmatic advertising?
At its essence, programmatic advertising is defined as using software to buy digital advertising space. Using artificial intelligence, websites use algorithms to analyze a visitor’s behavior, which allow companies to create and optimize campaigns in real time based on the target audience that is most likely to utilize those products and services.
“Programmatic targeting allows companies to optimize campaigns in real time.”
“Programmatic started off as a way of using up remnant inventory,” IAB UK senior programs manager Dee Frew told Marketing Week: “It was a way of increasing the efficiency on leftovers, but as it has evolved it’s become more sophisticated. There is, however, a frequent misunderstanding that all programmatic is real-time advertising. That is a subset of programmatic, a way of utilizing programmatic techniques to make instant purchases. It’s a bit like having a robot shop for you on eBay. Real-time advertising is an auction-based model, whereas programmatic is the full breadth of automation.”
IO vs. new automated ecosystem
There are various benefits that make automated ecosystems more beneficial than taking an old-fashioned input/output route. By making use of new digital interfaces such as programmatic targeting and advertising, healthcare marketing efforts can turn into positive outcomes at a faster rate. Manually tracking down a target audience and finding ways to convert information into properly placed advertisements is a waste of time, efforts and resources. With programmatic advertising, you can produce useful insights in real time. Some of the other benefits of utilizing programmatic targeting include:
- Increasing your digital reach to better target the healthcare audience.
- Targeting specific professionals in the field by leveraging precise data.
- Eliminating guesswork and waste that comes with advertising to a large, less directed audience.
- Reaching your audience on any digital channel or device.
This new system of advertising is predicted to continue working well into the future. According to data by eMarketer, researchers predicted that $46 billion would go to programmatic targeting this year alone, up $10 billion from last year.
“Significant momentum behind programmatic ad buying now focuses on its rich audience targeting capabilities,” said eMarketer principal analyst Lauren Fisher. “Buyers have come to rely on programmatic as the primary way to infuse their ad campaigns with first-, second- or third-party data insights.”
Thanks for reading the first part of our programmatic targeting series. In Part 2, we’ll talk about the pros of utilizing this digital feature.
Learn how HealthLink Dimensions can help you reach your targeted healthcare audience with turnkey programmatic solutions.