Just a couple of decades ago, the industry saw just how big of an impact advertisements through TV and newspapers had over businesses and their reach. Now, while the mediums and methods of advertising have completely shifted, their importance is as imperative as ever. As things stand, digital ads are the tools that are driving sales for businesses and enable them to reach new prospects.
As we approach 2024, we can expect additional shifts, and one of the most major ones is the usage of Prebid.
Below, you will find the role of prebid concisely elaborated.
Prebid Overview
Many people still wonder: What is Prebid? In a nutshell, Prebid is an open-source header bidding framework that allows placing bids on the publisher’s available ad inventory. The mechanism of this platform ensures that through real-time automation, multiple advertisers make bids for ad space, giving publishers an opportunity for higher revenue.
With the use of this platform, the competition among advertisers is accentuated and therefore, publishers enjoy better control of their ad space.
Benefits of Prebid
Besides the obvious benefit of increased competition among advertisers, publishers can enjoy numerous other benefits by leveraging Prebid. Here’s an outline of the major benefits and why it has become the platform that is driving the digital advertising industry forward.
Increased Revenue
If you have ever tried publishing ads, you know it can get quite expensive and ultimately affect your revenue. In fact, you can spend somewhere between 7-8% of your budget on advertising, but statistics show that small businesses spend as much as 10%.
Improved User Experience
With user experience becoming one of the leading factors for online success, every single advertiser wants to ensure their ads are displayed in a proper manner and do not disrupt the UX in the slightest. Elevate your understanding with top-notch UX design training to ensure your ads not only captivate but enhance the overall user experience.
Prebid facilitates speed, and therefore, webpages do not have to struggle to load in ads, disrupting the experience the visitor enjoys. Plus, as the competition is fierce, it is highly likely that website visitors will enjoy the most relevant ads, tailored to their preferences.
Transparency
Prebid provides transparency into the auction process. Everyone can see the bids from different users, which provides them with enough information on how much they should bid on an ad. This feature decreases the chances of ad fraud and promotes fair competition.
Frequent Updates
Prebid is constantly evolving as it receives regular updates aimed at improving the entire platform and delivering a better experience for both publishers and advertisers.
As we progress towards the future and as its popularity grows, this platform will continue to be supported and receive features that will only improve the benefits we outlined above.
Prebid Drawbacks and Challenges
While Prebid offers numerous advantages to its users, there are still some challenges and obstacles on the way. One of the bigger challenges is the use of ad blockers. The good news is that only a small percentage of worldwide phone and PC users implement them, so a major part of your target audience can still be easily reached. Even with ad blockers, there are still ways to reach most of your audience, simply by requesting them to disable ad blockers when visiting a certain website online.
Can Publishers Rely On Prebid For The Future?
Prebid is an open-source platform which makes it transparent and flexible. To that end, publishers can modify the platform so that it fits their current wants and needs. As we approach 2024, the already customizable platform of Prebid will expand and allow publishers even more freedom in the form of ad format, demand partners and so much more.
So, without a shadow of a doubt, this platform will remain at the forefront for both advertisers and publishers for a long time.
Bottom Line
With Prebid, publishers gain unprecedented control over their ad spaces, therefore enjoying higher revenue potential and more customized advertising opportunities. And with the platform's continuous updates and already plentiful features, it’s safe to say that it will become the industry standard.
All in all, there is a lot to love about Prebid. There might be some current drawbacks, but with its constant updates and improvements, it’s safe to say that there is no obstacle that’s insurmountable in regard to digital advertising.
