As demand for Private Marketplaces grow, I’ve seen an influx of questions from even the savviest of buyers asking how to best frame a private exchange to best meet their needs. This means a focus on efficiency, audience matching and buying potential with publisher partners. To achieve these needs, I’ve found that being as transparent as possible with publishers about goals and capabilities, is the first step towards a successful Private Marketplace.
So what’s the checklist I recommend prior to entering a Private Marketplace?
- 1) Confirm available price auction type options and ask the publisher how these functionalities work within their exchange.
- * Ask what the differences are amongst private vs. preferred access vs. first look inventory and how their inventory ranks in regards to supply tiers and priority.
- * Is there competition for the inventory? Ask if there are other buyers participating in the auction that could drive up any negotiated CPM floors.
- 2) Define if anything needs to be “custom” about the inventory from the start.
- * Do you need a certain placement or site section (Home Page (HP) vs. Run-of-Network (RON) vs. Category)?
- * If need be, can the publisher send only impressions that meet your targeting needs (first party data, geo, language, etc.)?
- 3) Determine if the amount of inventory the publisher can allocate makes sense in regards to your goals and custom inventory requests.
- 4) Work with the publisher to identify if there are any targeting parameters for your campaign that may limit the amount of overall inventory that can be bid on and won.
- 5) Determine if the proposed CPM makes sense for the budget allocated towards a private exchange (i.e. a negotiated $8 CPM for 100,000 imp opportunities a day may not make sense to pursue).
Once buyers and sellers have defined the perfect Private Marketplace set-up, they need only to generate and provision deal IDs to connect the pipes. Inevitably, a few tweaks may need to be made after entering a Private Marketplace, but the good news is that MediaMath is here to guide you along the way.