The digital marketing industry is struggling to recognise some of the key expressions in the online display advertising industry, failing to identify industry terms such as RTB (real-time bidding), DSP (demand-side platform) and SSP (supply-side platform).
Adform’s poll of delegates at this year’s ad:tech London found that under a third of marketers (32 per cent) can decipher the term RTB, despite IDC claims that the real-time bidding market is expected to be worth around £4 billion in ad spend by 2015 in the U. S. and major markets in Western Europe.
The findings also found other key terms are unfamiliar to digital marketers, with only 26 per cent recognising DSP, 18 per cent understanding SSP and only 4 per cent identifying DCO (dynamic creative optimisation).
The results further pointed to marketers’ annoyance at the inaccessibility of online display advertising solutions, with 53 per cent of marketers frustrated about having to use multiple platforms to run campaigns. In addition, nearly three quarters (73 per cent) said they would hope to use a fully functioning single platform to run all elements of their display marketing campaigns in the next five years.
Rich media was also identified as a key growth area for the online display industry with 76 per cent marketers expecting greater investment in this space than standard display campaigns over the next 12 months.
Gustav Mellentin, CEO at Adform said: “While online display advertising has recently been the subject of great growth, these figures show that the industry is at risk of isolating itself from the rest of the digital marketing industry. This is concerning, especially when you consider some of the fantastic advances that are coming out of the space. Display specialists need to ensure that acronyms don’t get in the way of accessible solutions that help achieve marketing goals and enable advertisers to run better campaigns.”
Mellentin added: “It’s not surprising that digital marketers would prefer to run campaigns through a single platform in years to come. However, the industry landscape continues to evolve with high numbers of vendors specialising in dynamic creative optimisation, re-targeting, exchange buying and campaign optimisation. One platform that can deliver all the above features in a user-friendly solution with one point of contact providing local support is surely a cleaner and more effective method for advertisers to achieve campaign goals.”
Methodology
Results are taken from a poll of 120 delegates at this year’s ad:tech London
http://www.adform.com