In the early days of advertising, companies reached out to a specific audience, but they weren't able to connect with people as individuals unless those people walked into the store. Over time, advertising has gotten more and more personal. Programmatic marketing is one way of personalizing your connection with your customers. How can your insurance agency use programmatic marketing to reach out to new customers online?
What is Programmatic Marketing?
What if your advertising could adjust itself? According to Forbes, with programmatic marketing, "Ads can use artificial intelligence to fine-tune themselves based on what works and what doesn't." Smart Insights states that Google is aiming for 60 percent of digital advertising budgets to go toward programmatic advertising by 2019. While the word programmatic has been used to describe different types of marketing, it is usually used to describe advertising that occurs due to automated bidding in real time. The result is that a customer sees a specific ad at that moment, and that ad is targeted to that very specific instance.
How Will Programmatic Marketing Impact Your Insurance Business?
If you're using online advertising, here's what will happen if you use programmatic marketing. You will develop your ad and what you want to bid to have someone's eyes on your ad. This happens when you develop the ad, not when the ad is displayed on the web page. The entire process takes milliseconds.
Using data about the customer, programmatic marketing can determine quickly what ads would be suitable for which customers. This data-infused ad generation model has several advantages for your insurance marketing:
It targets your advertising at a micro-level, allowing each customer to see what is truly relevant. Your advertising isn't a blanket sent out to many different prospective customers, only some of whom will be interested in your product.
Your advertising isn't just targeted toward the person – it's also targeted to the time that they are most likely to engage.
You only pay for what you advertise. This helps smaller agencies with smaller insurance marketing budgets.
The algorithm monitors how your advertising is doing and aims to improve your success and look for areas where it could improve.
You can reduce the administration of your insurance marketing by reducing the number of publishers that you need to work with to advertise.
The Future of Programmatic Marketing
While people are trying to protect their customer data and they're using more ad blockers to avoid advertising, programmatic marketing is still an important trend that's likely to increase in its domination of the marketing world. It's not only efficient for you, it is also more efficient for your customers, as they're more likely to see ads for products that actually interest them.
In a world of impersonal advertising, programmatic marketing is more like a heart to heart conversation with prospective customers. If you are looking for a better way to advertise than hit-and-miss traditional advertising, consider working programmatic marketing into your advertising budget.
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