Q. What does "programmatic" mean, anyway?
Automation is a better term. Initially what we are talking about is automation of existing processes, streamlining workflows and reducing repetitive processes. The key benefits are reduced transaction costs, efficiency savings, better yield management for sellers and the ability to profitably bring smaller buyers into the market. A more developed version of automated trading will be about unlocking data at scale. Some of this data will generic, but automation combined with proprietary 1st part data used as part of a joined up media campaign will be where the real gold will lie.
Q. What key challenge is facing the out of home industry over the next five years?
Outdoor is only growing at 2-3% despite enormous growth in the wider digital ecosystem. eMarketer suggests that $70bn will be spent by advertisers on web and mobile platforms in 2016, despite pervasive viewability and fraud issues. That number is almost twice that of the predicted global outdoor spend. We need to bring new advertisers into the medium, and make it easy for them to participate and to tell them an honest story about why it works. The case is actually quite easy to make but incumbent business models will need to evolve - towards a focus on how to use data to make the case alongside, not against, other media.
Q. What role does bitposter have in this?
Bitposter is a technology company aiming to make it easier for any buyer to connect to any seller and vice versa. The way we approach development is in an open way – a lack of standardization of systems in the past has made innovation very difficult and high cost – our goal is to lower the barrier to entry for participants to create real innovation and to unlock the real potential of what is an increasingly powerful medium.
Aidan Neill, CEO & Co-founder