The digital advertising field has significantly improved from when print ads had to be strategically placed with limited results despite the high costs. Services like Google Ads also seemed to be winning the war of revolutionizing the advertising field. However, a more innovative way to improve digital advertising has hit the market and is making waves.
Demand-Side Platforms (DSPs) use advanced technologies that streamline processes in this entire industry. You might be asking yourself what a DSP is and how it all works. Find out more about this system.
DSP in a snapshot
DSP is an innovative and highly effective solution to help simplify the advertising process for businesses. Using a DSP guarantees that the ads uploaded get placed as soon as possible on a suitable website. This system uses advanced technologies and algorithms that connect end-users with businesses.
All a business has to do is input the parameters of the audience, budget, and a few other key details to get an ad placement. Within this system, there are two options to choose from when advertising. These options are programmatic DSP advertising and real-time bidding for ad space. Both these options have their own benefits depending on your objectives.
Fundamentals of DSP programmatic
The programmatic way to use DSP systems can be very beneficial if you would for your ad to be placed on premium websites. DSP programmatic bids the ads you have created to a select few premium websites, and they have the prerogative to decline or accept the bid.
However, the system retries again with a different website of the same caliber to find premium spots in high-quality websites. The webmaster assesses the parameters when your ad was submitted to a DSP service provider. One of the first things they check is whether your audiences align and then check other aspects such as budgeting and how the ad looks like.
How does real-time DSP fulfill an ad space order?
Although programmatic DSP works great, real-time bidding is where it is at because this advertising system streamlines and simplifies the process significantly. How does real-time DSP fulfill an ad space order? The process is very simple and straightforward on the user-end. You can get ad space very quickly and almost instantaneously without exerting much effort.
The greatest benefit of real-time DSP systems is that they use live bidding on ad space. As a result, the cost of acquiring advertising space is flexible and dependent on your budget. Standard advertising platforms do not have this pricing flexibility. You have to choose between going cheaper and losing potential clicks or views or paying a high price for maximum exposure.
Benefits of using this system
Using DSP systems has a lot of benefits, and at the top of the list, there are significant potential financial cost savings. By being in charge of the budget you are bidding with, it is possible to get maximum exposure for less money. Another benefit of using DSPs is that you do not have to follow suit in complex processes just to get an ad placed.
Instead, when an ad has been listed on the DSP platform, it can get placed even within a split second. As the name suggests, the ads are on-demand and get placed as soon as they come in.
When should a business consider using DSPs?
Undoubtedly, there are many benefits to using DSP systems, but the truth is this system might not be best suited for businesses with smaller advertising budgets. Some have said that DSPs are perfect when used with a budget of around $5,000. However, there are companies with small ad spends that have effectively used DSPs.
You can try it out and see if you’re finding any luck with getting quick and relevant placements. If this system does not work for you, consider scaling up on advertising spend within your marketing appropriations.
Closing thoughts
Demand-Side Platforms are the perfect way to get affordable advertising real estate on websites you have an audience in common with. When using the live bidding option on the DSP systems, your ad can get placed instantaneously. There are many benefits involved with using DSPs, such as lower budgeting and streamlined advertising processes.