You often come across many videos and display ads on various online sites; it is not just random. At the backend, real-time bidding (RTB) happens within a fraction of a second to bring the ads to you. Open RTB has become a crucial part of programmatic advertising in the digital world, and this industry is estimated to take over $200 billion in the near future.
Open RTB provides a standardized protocol for RTB transactions. It offers a standard platform both for advertisers and publishers for the transaction of data and information related to ad impressions.
The goal of OpenRTB is to offer a standardised, open-source protocol for communication and interoperability between buyers (Demand-Side Platforms, or DSPs) and sellers (Supply-Side Platforms, or SSPs) of digital advertising inventory. OpenRTB aims to promote growth in Real-Time Bidding (RTB) markets. To learn more about OpenRTB, read this: How OpenRTB Boosts Ad Results and Performance for Advertisers?
Open RTB's Advantages For Publishers and Advertisers
Open RTB integration streamlines the buying and selling of ads following standardized protocols. These allow to create a win-win scenario for both the publishers and advertisers.
Let’s dive deeper and understand first how Open RTB is benefiting the Publishers and Advertisers.
Benefits For Publishers
Boost Efficiency
The ability of OpenRTB to incorporate automation in order to improve programmatic advertising with AI has reduced a lot of manual efforts and unnecessary brainstorming. OpenRTB, empowered with AI, has taken over all the tedious activities that too so efficiently, starting from searching demand, sending requests to ad networks and ad exchanges, calculating floor pricing, and many more. This comes as great help for the team to be freed from these activities and focus on and work on other platforms.
Optimize Revenue
As OpenRTB serves as a communication protocol for real-time bidding, it facilitates publishers to maximize their revenue potential. By offering an open ad space to multiple advertisers to bid at the same time, provide them the ultimate opportunity to make maximum profit with the maximum bid.
Superior Control and Transparency
OpenRTB provides publishers with a transparent view of data sharing with advertisers. This enables publishers to take control of data sharing, limit access, and impose restrictions as required. OpenRTB also provides the ability to set bidding prices, giving users control and transparency over the quality of the content to preserve platform authority and credibility and lower spam rates. This helps publishers better understand data flow and find partners by using OpenRTB's SupplyChain Object to clarify intermediates in ad buying.
Scalability and Flexibility
OpenRTB allows publishers to interact and work together with a variety of platforms, including ad networks, ad exchanges, and SSPs. Additionally, OpenRTB offers dynamic pricing, which enables real-time cost determination for every ad impression. In the meantime, publishers can scale their daily operations and carry out ad transactions effectively thanks to the automated process of media trading.
Benefits For Advertisers
Automation Boosts Efficiency
OpenRTB uses APIs (Application Programming Interfaces) to provide smooth communication between SSPs (Supply-Side Platforms) that manage publisher inventory and DSPs (Demand-Side Platforms) that are used by the advertisers. These APIs automate processes such as sending bid requests with targeting criteria and receiving real-time bid responses from SSPs. This saves advertisers time and effort by eliminating the need for laborious discussions.
Helps To Reach the Target Audience
OpenRTB tags can be incorporated by publishers into their online platforms, such as websites, mobile apps, and web apps. These tags use OpenRTB's standardised data structure to convey or exchange information about their audience, such as age, geography, interests, and ad space characteristics (size, format). The Demand-side platform (DSP) ecosystem then uses data science and analytics techniques to programmatically target particular user groups using techniques like contextual, behavioural, and geo-targeting as per their ad campaign goal.
Fraud Detection & Elimination
Open RTB allows strand targeting, which is a technique that gives advertisers or demand-side platforms (DSPs) the authority to remove and block certain accounts and IP addresses that are in link with fraudulent activities. By doing this, advertisers may avoid wasting their money on pointless clicks and impressions.
Precise Targeting
As everyone knows, OpenRTB is the only platform that allows online auctions or real-time bidding in programmatic advertising. This allows advertisers to perform precise targeting, quick and easy ad inventory purchases, transparent transactions, and smooth ad delivery via ad servers.
Wrapping Up
OpenRTB has proven to be the integral and unbeatable technology in the digital advertising world. It serves as the backbone for all the media ad transactions between publishers and advertisers.
AdTech companies may now uniformly communicate with one another, which makes it easier for them to grow and integrate with other tools.
Whether you are an advertiser or a publisher, to win in the bidding game and make the maximum profit out of it, you cannot do without Open RTB.
We at 3Mads provide unique AdTech solutions and assist advertising companies in using cutting-edge technologies to reach new programmatic advertising opportunities. Feel free to connect.