Direct buying or programmatic guaranteed. What to choose?

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With the recent popularity of the programmatic options for online media display and advertising the new players in the field have developed confusion between the two. In this article we will be discussing the pros and cons of the two approaches and their suitability as per the specific consumer and the commodity needs.
Owing to the minimal yet significant distinctions between the traditional buying and the programmatic options, it becomes necessary to demystify the same. The article tries to equip and well verse the new advertisers with required knowledge to successfully deploy their company resources in the right direction obtaining maximum gains by selecting the right advertising corroborating their budget and audience requirements.
The necessary distinctions between the two are discussed as per the following heads:

Targeting flexibility:

Direct media buying which is the simplest form of advertising involves the advertiser negotiating directly with the publisher for the impression space availability on his website. This space is then allotted to the buyer or the advertiser for a definite time and price. Thus here the buyer is sure that his target audience who are the viewer of this website will be coming across his advertisement on a specific page at the specific pre decided time. Programmatic advertising on the other hand gives the buyer full control over the ad impressions. Here the buyer purchases ad space on a per impression basis in real time. As there is no negotiation involved with the publisher, the approach is more convenient. Thus, if a certain pre defined targeting is not suitable in generating the conversions, he can change the same anytime with the flexibility offered through the programmatic options.
For example, the targeted audience which was earlier available on homepage at 4 pm now likes to visit there at 6 pm. This could lead to waste of the buyers efforts and money as the targeting is not effective to generate revenue in this case. Now to obtain more certainty of user conversions, the buyer can change his targeting appropriately unlike the direct options which restrict the same.

Cost effectiveness:

As we know there is are publisher involved while buying ads in the direct advertising, additional cost is added for their contribution. This also leads to additional tasks whereby the buyer has to maintain a good repo, seek the publisher help for changing the targeting which may sometime lead to additional costs, time, etc. while in the programmatic the middlemen or the publisher is removed leading to a significant reduction in the ad impression price.

User driven approach:

Earlier in the traditional or the direct approach the sites having the highest probability of attracting the desirable audience were chosen to display the ads. But with the programmatic, the buyer or the advertiser can directly target the user rather than the site for their availability. Also with the fast pace of development in the programmatic media options, the buyer can use the third party services such as the Exelate, Google, etc which arrange the audience under similar niche. This provides the most appropriate targeting and is time and cost efficient for all advertisers and mostly for the small scale advertisers who have a small budget .