Open Auction combines customer demands for budget optimization and campaign playout in real time. For this reason, it will play an even more central role in DOOH planning in the future.
Read on to find out how the bidding process and real-time playout work:
Flexible campaigns with Open Auction - how does it actually work...?
In an Open Auction, the marketer allows an open group of bidders to bid on his inventory. The marketer offers the inventory via his SSP (Supply-Side-Platform), which can be bought via a connected DSP (Demand-Side-Platform).
Bids are placed on a single playout, which delivers multipleAdViews due to the "one-to-many" situation.
The highest bidder is awarded the contract, whereby his bid is currently valued at only €0.01 to the second highest bidder - this is called the Second Price Auction procedure and should be familiar to everyone from the Ebay auction platform. However, discussions about the First Price Auction have already reached the market.
The motif of the "winner" is then played out in real time - subject to a
motif release, which at best has already taken place in advance.
What is the benefit?
Campaign control is 100% on the customer side, which means that the customer can adjust the parameters of his campaign (automatically) at any time using data targeting, for example.
The advantage for the buyer (customer or agency) is therefore obvious: maximum flexibility
and autonomous campaign control according to their own parameters. Cherry picking at it's best!
As always in programmatic purchasing of DOOH inventory, transparent reporting
and evaluations are standard and indispensable.
With the Open Auction, the customer has a free marketplace at his disposal, which fulfills the requirements mentioned at the beginning for maximum flexibility, real-time playout and
budget optimization 100%.
What are the restrictions?
In principle, all agencies and customers can participate in an Open Auction. The only
requirement is that the inventory is available in the selected DSP.
In DOOH, prior approval of the advertising material remains essential, even with the Open Auction.
This happens with the first bid request won or in advance by manual
motif release. Be careful with campaigns that are supposed to start on the weekend: here, a short info helps
and we will take care of a quick
release even outside business hours.