‘Transparency & responsible data practices to be the pillars of programmatic advertising’
“How many of you guys have ever made a purchase after going through an online ad? And how many of you guys have ever been persuaded to make a purchase?” asked Parth Parekh, Mobavenue Media’s Lead Strategist-Programmatic, as he kickstarted his talk at the e4m Programmatic Summit 2023. He spoke on the relationship between trust and advertising in programmatic marketing. In the digital industry as a whole, the currency that works is trust and it is much truer in the sense of programmatic marketing. It's not just about automation, but more about a data-driven approach that has led to this unprecedented growth, he shared. In 2022, the global programmatic ad expenditure was recorded as high as 7.31 billion US dollars. “And that is why they say where there lies money, there lies tonnes and tonnes of opportunities.” “Programmatic advertising as a whole promotes and propagates brand perception keeping transparency at the core,” Parekh asserted. He went on to explain that programmatic advertising was no longer a buzzword but more about highly targeted data-driven campaign management and it helps you connect to your audience. “It helps you connect behavioural segments or it helps you connect the interest of your users. It helps you connect the dots. By dots here, I'm trying to harness the power the open internet holds. On the open internet, 65 per cent of users are readily open for you to advertise,” he added. Giving the example of Swiggy Dineout and how Mobavenue helped the brand retarget users to make finally the first purchase on the dine-out segment, Parekh said: “So, it was the users who were present in the Swiggy umbrella but have never made a dine out first purchase. The specially curated cohorts helped us understand and cross almost 40,000 plus first orders in the last six months, which gives me an average of 7-7.5k orders per month.” Raising another question, “What makes you trust any other mode of advertisement?”, he explained, “The first factor is transparency that the platform offers. Second is, how well has future-proof technology, like AI and ML, been integrated.” Parekh also shared that he has heard AI being included in the most berserk places where it was not even required, but when it comes to the search demand side platform (DSP), AI is more like the RNA and DNA in our blood stream; just how one cannot separate water from water. Elaborating how AI helps a demand side platform, he said: “A DSP processes more than 200 billion ad requests a day. How is the platform supposed to know the right user, the right brand on the right ad slot at the right time at the right price? That is where AI and ML enabled algorithms help. It not only increases ad spends but also provides incrementality in the ROI to the client.” Furthermore, as everyone journeys forward, nurturing trust becomes paramount. Transparency user content and responsible data practices will be the pillars supporting the success of programmatic advertising, he asserted. Concluding the session, Parekh said, “It's proven that AI is here to stay. Now, how we build our relationship with it is up to us.”
Tags : Mobavenue Media Parth Parekh E4m Programmatic Summit 2023