Private marketplace programmatic ad selling has been boiling for several years as large publishers were looking for a way to leverage their most valuable online ad inventory – usually with a select number of major advertisers – that would lose value if sold through public real-time bidding exchanges.
As a result many publishers have rushed to set up private marketplaces and advertisers have often entered those trading platforms without serious consideration whether this was the right approach. Often the private marketplaces did not deliver the expected volume of transactions and ROI.
The Interactive Advertising Bureau (IAB) has now compiled a “checklist” of items that ad buyers should consider before they enter a private marketplace for programmatic ad buying. The aim of the checklist, according to the IAB, is to ensure that buyers and sellers are on the same page about what they are trying to achieve from their private marketplaces and that they appropriately assess, before moving ahead, whether it is the right channel to transact through.
The checklist is fairly straightforward. It provides a list of issues that buyers and sellers need to discuss and agree on. Buyers, for example, are prompted to specify a variety of buyer requirements, including whether their campaigns are branding-focused or direct response-focused, key performance indicators, fight dates, what kind of inventory and transparency they are looking for, what kind of financial terms they wants and more.