The word “remnant” is charged and misleading. It makes you think of excess and unwanted material. At doughnut shops, “remnant inventory” is thrown away at the end of the day because it has gone stale and no one wants it anymore. When people hear they can use programmatic technology to purchase remnant inventory, it makes them think they are buying second-class display ads that bring little value to the table.
As Digiday recently noted, however, this perception of remnant inventory is pretty far from the truth. Ads within remnant inventory aren’t the stale donuts at the end of the day, they are simply unsold inventory that still contains a tremendous amount of value. This is particularly the case as programmatic technology allows advertisers to highly target their efforts and promote relevance.
“The biggest beauty of programmatic is that you can drive brand awareness – you can deliver reach and efficiency with frankly great frequency, but most importantly, with a precision you can’t deliver through other tactics, like above the line media,” Tam Alesi Bousquet, head of programmatic at Digitas, told the news source. “I’m of the mindset that you absolutely can do brand awareness with programmatic.”
Relevant storytelling through programmatic technology
Programmatic tools are powerful, as they enable brands to engage prospects across multiple channels, including video, social, email and display. Using an array of metrics, they can measure precisely how their campaigns are performing and how customers are reacting. This gives advertisers and brands significant value and helps them improve their initiatives for the future.
When it comes to branding via remnant inventory, programmatic technology is ideal because it allows them to personalize content specifically for the viewer. For example, if the customer is using their phone to research products while they are in-store, nearby companies could detect that and serve them an ad for that item, bolstering brand awareness in an incredibly relevant and pertinent way. The key here is telling a story to customers that fits their current needs, which can be done more effectively with programmatic technology than pre-planned media buys.
“But isn’t that the same thing that’s always been done?” Digiday asked. “The difference … is if you’re able to leverage the right technology, you’re buying that media in a way that is less wasteful. It’s responding exactly to that customer’s needs; it’s responding to what they’re looking at or how they’re conversing with a brand.”
Adapt the creative elements to the consumer
If programmatic technology can be used to address specific customers, it’s critical that creative elements of the campaign are similarly targeted. Advertisers can use a variety of art and copy based on the targets they are engaging. This goes back to the retail example – if targets are looking to purchase a specific item, show them an ad that clearly displays the item and not just a generic brand logo.
So, how do you design creative that will effectively reach prospects? As Digital Spark Marketing noted, it ultimately comes down to the person being targeted. Brands need to understand not only their own value proposition, but also the values their targets hold dear. If brands are targeting specific customers using programmatic technology, they need to ensure they are communicating well to these individuals through the creative elements of the campaigns.
Advertisers have a lot of options when it comes to engaging prospects, and new tools such as programmatic technology allow them to do so quickly and effectively. Remnant inventory can be converted into meaningful, valuable branding opportunities for the savvy advertisers through the use of the right tools.