Using Basis opens you up to a variety of inventory sources. The ability to buy inventory in both the open exchange as well as a Private Marketplace (PMP) can provide a media planner with the ability to find audiences in a variety of different ways. A private marketplace (PMP) is a customized, invite-only, RTB marketplace where publishers make their inventory and first party audiences available to a select group of buyers. Let’s break down these terms for clarity:
- Invitation Only: PMPs are not available to all bidders in the space, just those who work directly with the publisher to set up the deal. The good news for you is that Centro does the “deal setup” work for you! We have a team dedicated to partnering with publishers, which has allowed us to create the robust library of PMPs you currently see within Basis today (the majority of which are evergreen or “always on”). You can also create your own deals and add them to your account’s library as well!
- RTB Auction: Using a PMP deal does not guarantee you inventory on a specific site/placement. This is because PMP inventory is bought in real time or via a real time bidding (RTB) auction. A PMP does mean that there is a smaller group of buyers who have access to the inventory so you have decreased competition for the impressions themselves.
- Inventory & 1st Party Audiences: Access premium content and utilize first party data through a variety of specific publishers. PMPs allow for increased control of inventory as well as provide an opportunity for usage of first party data as we start to see the 3rd party data landscape change looking into 2021.
According to eMarketer (January 2020), growth in PMP ad spending will outpace that of the open markets by about 3:1 in 2020. Continued emphasis on first party data will drive increased investment in PMPs.
Currently there are over 1,400 private deals within Basis that are made available to our partners. In Basis you can browse the available PMPs by checking out the private marketplace tab. Here you can filter by device, ad type, or category to find PMPs that will help to reach your audience. You can also use the search bar to quickly find PMPs based on a keyword of interest. Results will show the name of the PMP, the publisher providing the inventory, the exchange the inventory is coming from, and the price or floor rate. The floor rate is important because this is the lowest bid you can set when using the deal. Best practice is to bid $2 – $3 above that price. This allows you to be more competitive and win more impressions.
There are many types of PMPs to choose from. When deciding on the deal to use in your media plan, you will want to consider your campaign goals and desired audience. There are deals that focus on audience (demographics and content), campaign goals (viewability), and device (desktop, mobile and connected TV). There are also deals that focus on inventory with specific timing: sports/live sports, holidays, and events.
With all of that in mind, go forth and start utilizing PMPs in your media plan!