Real-time bidding (RTB) is one of the driving factors behind audience-based media buying's growth. Real-time bidding allows marketers to place ads based on optimized ad choice personal to the viewer. As explained by a ClickZ article, RTB "is dynamic bidding at the impression level. This means that an ad buyer, through the platform of [his or her] choice, can differentially value each individual opportunity to buy an ad impression in real time."
I learned about RTB during an IBP Management group project over online display advertising. When my group and I presented our research to the class, we explained RTB through an example:
A shoe company advertising a shoe sale could bid one amount to reach users on a Web site, and another amount to reach users on the same Web site who have shown an interest in shoes.
This kind of real-time bidding allows advertisers to reach target users without wasting their advertising dollars. The ClickZ article included a list of benefits RTB can bring to performance and other aspects of an online campaign. These benefits include: cost efficiency, actionable insights, retargeting, creative optimization and performance.
RTB has the potential to revolutionize the online advertising industry, helping advertisers "uncover, understand, and unleash opportunity within each campaign effort." It's a very exciting time for the industry, and I can't see what RTB leads to!
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