Is Targeted Programmatic Display a Good Advertising Option for Your Cannabis Company?
The technology allows dispensaries and other sellers to target their digital ads at their target market.
Programmatic display is a type of advertising that offers businesses the opportunity to show a specific customer advertising inventory in real-time.
The technology allows dispensaries and other sellers to place digital ads on their targets audience as they consume content online. It relies on various tactics to capture the attention of relevant and potential customers.
How big a business is it? According to Statista, there was about $129 billion worth of programmatic advertising sales in 2020. With experts projecting $155 billion in sales by the end of 2021, you can expect even more in 2022.
Since its inception, digital advertising has allowed businesses to make more money than traditional marketing strategies by cutting out intermediaries and allowing companies to reach their target market directly. Instead of spending on printed marketing materials, TV ads, or other media to advertise their products, businesses can place ads online and wait for interested customers to take action.
Focusing on users who already use the internet and are interested in cannabis, cannabis targeted programmatic display gives advertisers a lot of control over who sees their ad.
While many online marketers don’t even consider targeting consumers using demographics and behaviors, they should consider these two factors when building digital campaigns. The benefit of doing so is that it saves time and money while ensuring marketers spend money only on people interested in their product.
Who should use programmatic display in 2022
In 2022, programmatic display will work best for businesses that understand their target audience well.
Say you run a dispensary and attract people interested in CBD products; it would be ideal to know the types of CBD users who might visit your site and how much they spend on average. This would enable you to develop your ad creative based on what kind of person will likely buy from you.
What type of display targets should you look out for in 2022?
Behavioral targeting helps marketers understand how potential customers respond to various stimuli. It works best for anyone who wants to find new customers. Once businesses understand how their target audience responds to multiple advertisements, they can apply this knowledge to developing ad creative that resonates with their audience.
Nowadays, with the help of experts, dispensaries are even developing custom images or videos that better fit your brand and appeal.
This type of display targets specific audiences by demographics such as age, gender, income, marital status, education, etc. The targeting allows advertisers to focus on different segments and develop custom creative based on those groups.
For example, if you sell CBD products for pets, you might create ads targeting young female college students interested in pet care and promote different CBD products based on age and gender. The approach gives you a better idea of what kinds of people visit your site and helps you improve your conversion rates.
If a business wants to focus on certain types of people who live in certain areas, geo display targeting allows them to do just that. Using demographic information such as age, gender, income, or marital status, advertisers can identify which cities or states people come from. They can then target people based on where they live or spend most of their time.
Typically, geo-targeting allows retailers to serve customers based on where they live or spend most of their time. The next step is finding where people spend most of their time online. So how does one go about doing that? With geofencing.
Geofencing uses mobile phone technology to define geographic boundaries around your location. These boundaries allow you to know when someone enters or leaves a designated area. That information is immediately sent to your geofencing software, which sends alerts to you so you can track when someone enters or leaves your boundaries. You can also trigger notifications for messages or reminders when someone leaves your geofence.
Entrepreneur Leadership Network Contributor