With the prices of customer acquisition skyrocketing, the importance of accurate, quick and effective marketing is higher than ever. Thankfully, unlike their predecessors, modern marketers have many technologically advanced tools at their disposal, which allow them to conduct campaigns much more efficiently. Demand-side platforms (DSPs) are one of such commodities. But, how do they work, and what is the DSP’s meaning for new age marketing? Find this out by reading this article!
What is a DSP?
Before we get down to DSP’s meaning in marketing, we have to explain what a demand-side platform is in the first place. It is a type of software designed for marketers to purchase different types of advertisements. It analyzes various offers in real-time and works with supply-side platforms (SSPs) – software for publishers to post their marketing spaces.
A DSP is a market for advertisers. Marketing teams may use it to bid for certain ads in one place, without the need to contact different vendors separately. They also offer tools for whole marketing campaign management. Their aim is to allow marketers to make data-driven decisions more quickly than in traditional ways.
The key behind the success of DSPs are: automation and deep learning. As a result, the marketers don’t simply purchase advertising space, but rather the possibility to reach out to particular audiences through various channels.
DSP’s meaning for modern marketers
Using demand-side platforms is quite crucial. It has a plethora of advantages, which is why using them can give marketers quite an edge over competition. Teams which do not use this kind of software are simply laggards, outperformed by the innovators. Let’s analyze DSP’s meaning for marketing through its most critical benefits:
- Time-efficiency – By using a DSP, marketers can spend less time on low-value tasks such as contacting publishers and making deals with each one of them separately. As a result, the whole teams produce much more value, a critical aspect if you consider the current customer acquisition costs.
- Better campaign management and overview – By planning and carrying out campaigns on one platform, marketers have a deeper insight into their efforts. Does a particular channel perform much better than the other? The team will spot it. Is there too much focus on a particular target group while the other is a bit neglected? It will also be clearly visible. Knowledge is power, and a DSP provides it.
- Quick carry-outs – Time in marketing is crucial. Sometimes, marketing teams need to react to a trend almost instantly, or their campaign will become outdated and thus ineffective. Using DSPs means that teams can quickly put their new adverts into life, allowing them to reap the harvest of current trends.
Final thoughts
What is DSP’s meaning in marketing? It’s the solution to quicker, better and more time-efficient campaigns. Demand-side platforms increase the effectiveness and productivity of marketing teams, thus they are solutions that should be used by all companies which wish to remain competitive.
