Technology has connected us from different parts of the world. Technology has also elimnated the old fasion way of advertising such as newspapers, billboards, television commercials, and others. With everyone in the same hub, it is a gold mine for advertisers to create new methods of promoting. This is where digital media buying comes in. Digital media buying is a process of purchasing spots or placeholders for potential advertising on applications, websites, and other technological avenues. This is accomplished by real-time bidding, or RTB. It is constructed in a specific manner.
1. The Advertiser
Demand Side Platform
The demand-side platform is part of the construction. This gives the advertisers the choice to place their advertisements in specific spots of the website. As well as, target a specific demographic. If you want the audience to be women between 18-30 years old that care about personal beauty, this will allow you to hit all the criteria. It is important to research and understand where the demand lies. You would want to know which demographic prefers which specific product of yours. Once you have that information, you can curate the advertisements around that audience.
Just like how the stock exchange is a platform where people gather to buy and sell, the ad exchange works in similar ways. This is where publishers and advertisers meet to bid in real-time for website spaces. If a publisher or an advertiser would like a specific space on a website, they would bid for that spot. Highly populated websites would have higher bids.
Supply Side Platform
The supply-side platform is the opposite of the demand-side platform. This encompasses website publishers to sell their website space to interested buyers.
2. The Publisher
As mentioned before, digital media buying today has made advertising as efficient and cost-effective as it can be with the ability to select advertise specific audiences and niches. With relatively no overhead cost, digital media buying can be automated by setting your specific options to target anywhere on a publisher’s website so long you have the ad placement space as the highest bidder.