While investments in programmatic media buying is on the rise, marketers surveyed by Forrester highlight key challenges they face in this space.
Most important among them are a lack of time to understand and implement programmatic, lack of programmatic skills, the complexity of the technical implementation and, lastly, not having an agency partner that can help them use programmatic.
According to Rahul Vasudev, managing director, Asia Pacific, MediaMath, “a large obstacle is internal education, so it is imperative that marketers invest in formal programmatic education for themselves to enable themselves to reap the benefits that successful programmatic practices deliver.”
The study, commissioned by MediaMath, found that 41% of senior marketing professionals in Asia Pacific (APAC) have already adopted programmatic buying into their media buying processes, with Australia (48%), Japan (46%) and Singapore (46%) leading as the most mature markets in the region.
Of these, 82% are either satisfied or highly satisfied with their investment in programmatic technology, indicating that marketers are benefiting and getting returns from their programmatic adoption. Furthermore, an exceedingly positive 96% of these adopters plan to continue investing in programmatic technology in the next 24 months.
While several markets in the APAC region have been seen as laggards in terms of marketing technology adoption, it remains a high growth region, with a large number of businesses yet to adopt or integrate programmatic advertising into their marketing mix.
To gauge the appetite and adoption levels for programmatic in APAC, Forrester surveyed 300 senior marketing decision-makers in Australia, Japan, India, Indonesia, Malaysia, and Singapore. Survey respondents were all from mostly business-to-consumer (B2C) companies with annual revenues in excess of US$25 million.
Through the survey, APAC marketers cited better contextual targeting, faster and more efficient execution and real-time optimisation as the most important benefits in considering programmatic in their practice.
With global programmatic ad spend expected to reach US$37 billion by 2019, APAC is poised to play a significant role in this growth, with the study finding that 82% of adopters are either satisfied or highly satisfied with their investment in programmatic technology, indicating that marketers are benefiting and getting returns from their programmatic adoption.
Furthermore, an exceedingly positive 96% of these adopters plan to continue investing in programmatic technology in the next 24 months.