In a highly competitive and congested industry, knowing the ins and outs of supply side platforms (SSP) will give you the upper hand. Better yet, knowing what key features you should seek will help you be more specific and your campaign more effective.
The global Programmatic Digital Out-of-Home (pDOOH) market is forecasted to hit 4.48 billion dollars by 2027. The increased transactions from both brands and media agencies in programmatically booked campaigns presents the opportunity for media owners in the industry to access new revenues and get a bigger piece of the pie from the total ad spend.
Enabling a pDOOH campaign can be as simple as approving a friend request on facebook, provided you possess the relevant planning and trading systems and softwares. But what system do you need to get started with programmatic?
You need a software that allows you to make your inventory available to media buyers – a supply-side platform (SSP).
An SSP is a piece of advertising technology (AdTech) that allows you to streamline and automate the selling process of your DOOH inventory. It connects your screens to new markets and disparate media buyers.
One major aspect of an SSP is that it is designed to sell your inventory at the highest possible price based on the bids received. Like in a real life auction, the highest bidder wins the item they are bidding for, your inventory will be allocated to the highest bidder, hence, making you more money.
A platform like this allows your inventory to be booked from afar. Cross-border deals can be closed without the hassle of negotiating.
One thing to keep in mind is that not all SSPs are created the same way. Some may not have the features to fulfill certain nuances of the DOOH industry.
Here are some key features to consider when choosing an SSP for your business.
Advertisers like brands and media agencies use demand-side platforms (DSP) to book, build, manage and analyze campaigns from one central spot.
Having an SSP that connects to various DSPs will ensure your inventory is more visible and reaches more potential buyers, increasing the probability of sales of your outdoor screens.
An SSP allows media owners like you to automate your inventory selling process. You will be able to manage the distribution of your screens to advertisers from one location.
The traditional way of doing this is to be physically present, manually assigning ad to the selected site.
Automating your business will not just save you time, but it will also help you cut operational costs.
A CMS is a software or platform that allows you to deliver the correct content to the correct audience at the right time. You will be able to create, modify and distribute content remotely.
You will also be able to monitor all the digital screens in your network from your computer or mobile device.
All you will have to do as a digital screen owner is to manage the schedule of your content and leave the rest to your CMS.
The tipping point where Programmatic DOOH will become the preferred choice of activating outdoor advertising will be driven by the availability of data. This could be industry standard data on impressions, audience intent data, and so on.
With the advancement of technology, media owners like you can access audience data in your hands if the SSP your inventory is on has an audience-based measurement feature.
You will be able to access unbiased location-specific data directly from your SSP and this could act as the foundation to preparing detailed proposals and reports for your advertisers.
Conclusion
Supply side platforms will help you deal with the growing demand for out-of-home advertising. Getting your hands on the right platform with the right features should allow you to increase your revenue.
The right SSP should also keep evolving with times to ensure that your business is protected at all times.