RTB was introduced for the first time in 2009 and since then has served the advertisement industry by smoothening the buying of ad space and eliminating the problem during the times when impressions were rendered useless. The ad exchange works in a similar manner as stock exchange where various advertisers bid for the ad inventory supplied by the publisher. The advertisers offer the highest price possible for a particular ad inventory which in turn targets a particular set of users on the internet. The bidding system usually operates in two ways, CPM model or the SmartCPM model. The CPM model works on a simple bidding procedure where the highest bidder pays the amount he offers above the other bidder. The SmartCPM on the other hand works on a smart bidding module that only requires the highest bidder to pay an average of the total amount of the bid placed. This not only saves money but also stops online advertising business becomes a power hungry game. If you’re new with RTB and what to know more, here are a few tips that can help you with your campaign.
- Bid on the Best Sites
The most difficult thing is to find out what site to bid on. The best way to do this is to do a run or network or RON test which will reveal all the sites or blogs which will perform the best. If you put your advertisement on site that doesn’t get much traffic then all your hard earned money would be lost in vain and your ad campaign might fail before it even starts. If you check the suggested websites personally you will find that the test is pretty much accurate. The content on the website will be related to your campaign and the content is also regularly updated.
- Track Your Campaign
The biggest problem when working on RTB campaigns is to gather the data so that you analyze it to know about the next site you want to bid on. The best way to gather the required data is to put into action a tracking pixel. The pixel can be a simple cookie that is sent by you from the website where your ad is placed. The cookies contain useful data which can be put into a chart and can be analyzed to know how your campaign is working. Tracking also helps you to check your return on investment on each ad campaign and also helps you calculate a particular customer’s lifetime value.
- Target your Bidding
While bidding provides a fair system of buying ad space and ad inventory on the internet, it can also be a potential waste if the bidding is not focused. Wasted impressions are often similar to collateral damage and can hamper your campaign’s potential reach. It is best to first analyze the market properly before you make your bid. When you know your target customers it becomes much easier to decide what website you want to bid on and set your bidding parameters accordingly. There might be a lot of potential customers outside your targeted group of users, hence viewing a broader and clearer picture is important.
- Choose The Top Ad Networks
If you want the best for your product and want to aim at brand building, you might not want to work with anyone you can get your hands on. It is always best to choose the best ad networks for your Real Time Bidding campaigns. One might have to do a little investigation and asking around to know about the top ad networks. You must also check out the volume availability and the various options for optimization offered. A premium RTB platform is certainly a little more expensive but it also has a higher return on investment and your campaigns will also attract more quality traffic and a better platform to properly analyze the potency of your campaigns.
If you have chosen to advertise on the internet then Real Time Bidding is one of the most convenient ways to buy ad inventory. Make sure you keep in mind the above tips and tricks while you work on your campaign.