Can you believe it has been nearly 20 years since Will Smith and Salma Hayek won over our hearts with the classic western comedy film, Wild Wild West! I can still hear the wicky-wild-wild theme song blasting through the speakers of my bedroom boombox, circa 1999.
Thankfully, my taste in music has evolved over the past couple of decades. One thing that has not changed is my fascination with the wonderful world of the wild wild west, with or without big Willy.
When I began my career in the ad tech industry, one of the first lessons I learned was about the parallels between open marketplace transactions and that wild western world.
In the early stages of open marketplace auctions, buying ads through an open exchange was nothing to take lightly. Fraudulent behavior was rampant, arbitrage was the norm, and buyers were often left wondering how cost-effective their strategy ultimately was.
Not only has my taste in music evolved in the past five years but also I have had a front-row seat to witness the incredible transformation of open marketplace transactions.
Contrary to my initial experience, the open marketplace is no longer something to be afraid of — rather, it is an important resource to incorporate into your buying strategy.
In fact, the open marketplace has transformed itself into an avenue for buyers to maximize efficiencies and should be considered in each and every digital strategy. Let’s discuss some of the reasons why there is value in leveraging the open market in your video advertising strategy.
Buy with confidence
Access to an extensive network of supply has always been an important factor when it comes to executing your buying strategy effectively. The SpotX Public Marketplace offers access to a wide variety of inventory, supporting over 600 premium publishers and media owners.
SpotX is home to the most diverse, comprehensive collection of supply. Therefore, not only will you find the scale you need but also you’ll have access to scale you can trust.
There’s a new sheriff in town, and SpotX takes their job to protect the open marketplace very seriously. Our Brand Safety Team has a number of tools in their arsenal to combat the ever-changing video advertising ecosystem — allowing them to prevent, deter, and eradicate fraudulent behavior.
Speak to your audience
With the power of data at our fingertips, your ability to target a specific and precise audience is more advanced than ever before. In my experience, the most difficult challenge is applying your first- and/or third-party data targeting to a wide enough pool of candidates to reach your exact audience effectively.
Instead of scrambling to secure an audience match in private marketplace environments that have been tailored to be too narrow, try expanding your audience exposure through an open exchange. Select the users that are right for you, and execute effectively.
The open marketplace allows for maximum reach across all device types, in a secure environment, driving targeting efficiencies to new heights.
Get more bang for your buck
Explore how you can optimize your Total Video strategy to ensure you are buying in the most cost-effective format. A balanced digital strategy should include a combination of the open marketplace and private marketplaces.
While some campaigns merit paying higher CPMs to secure the inventory you desire, some do not. I encourage you to complement your private marketplace strategy with open marketplace activity to ensure you get the most bang for your buck.
I hope you enjoyed this wild ride through memory lane and that I can leave you feeling inspired to discover new tactics to optimize your total video strategy, marching back into the open marketplace like an unstoppable steampunk mechanical spider.
Are you making the most of the SpotX Public Marketplace tool? Chat with your SpotX representative today to learn more about how to start implementing the most effective open marketplace strategy for you.
This article was written by Michelle Hendrickson, digital marketing manager at SpotX.