You only have 100 milliseconds…

Going once,

Going twice,

SOLD!

 

You may ask yourself, what is real-time bidding?

Does it have something to do with right now bidding?

If that’s what you think real-time bidding (RTB) is then you’re, well, kind of right.

Here, let me go more in depth with you.

“Real-Time Bidding means that every online ad impression can be evaluated, bought, and sold, all individually, and all instantaneously. It is the future of all online advertising and enables exchanges and buyers to work together to programmatically sell and place bids on ads. It allows every impression to be cost effective, and to be placed in front of the right person, at the right time.”  
-Jeff Green, CEO & Founder, The Trade Desk

What this means is that when you go on your Facebook or any social media site really, there are all those fancy ads on the side bar. They’re there because you have more than likely Googled something or liked a page of Facebook that is all related to you. Then, when you refresh your page and new ads appear, that means those ads (companies) just won a space to be on your Facebook page. It’s all about compiling the right questions first with your company.

Who’s my target market? What persona do they fit in? What are my customer’s pain points? What products do my customers keep coming back to?

Once you figure out all your questions you want to bid as high as you can go to gain Sarah’s attention. She’s female (obviously), 23 years old, in a three-year relationship and loves dogs.

Say you were a ring company; you would want to jump on Sarah’s ban wagon and try to win a spot on her Facebook page. Just so when she sees the ad it puts a little bug in her ear about the possibility of getting married. 

While the auction taking place within 100 milliseconds is a very exciting and much discussed benefit of real-time bidding, the process which takes place after launch of RTB display campaigns is what really allows advertiser budgets to go the distance.

It’s an amazing process if you really think about it. Just sitting there, wondering if you’re going to be responsible for your next customer to walk in your store because they saw your ad on their Facebook page.

Therefore if you ever wondered why those bright and colourful ads are always on the side bar of your social media pages, or you never noticed and are checking them out now, now you know.

What do you think of the process?
What’s your favourite ad you’ve seen on your social media page?

Remember, there is always room for discussion.

 

http://www.adexchanger.com/online-advertising/real-time-bidding/

http://searchenginewatch.com/article/2293623/Why-Real-Time-Bidding-is-Set-to-Become-Huge