As we enter the new decade, programmatic advertising -- the term used for delivering digital ads not through direct placement on a specific website but through automated auctioning of ad space across hundreds of websites -- has become standard operating procedure for most marketers.
In fact, it’s projected that by 2021, 88% of all digital advertisement placements will be transacted programmatically (see below).
This context is crucial for understanding how 2019 was a turning point for a specific type of programmatic advertising within agriculture. This was the year we saw data-targeted digital advertising reach a whole new level of popularity and effectiveness in the industry.
For those who are unfamiliar with data-targeted digital advertising using Farm Market iD data, here’s a short article where we go into some detail on exactly what it is and how we do it. Here are a few key points to summarize:
- Target your specific audience -- and only your specific audience
- Invest in the audience, not the placement
- Reach the same growers across multiple channels -- display ads, pre-roll video, and now Connected TV, digital audio, and social media
As this particular kind of advertising grows, we want to talk about some of the successes that we've had. Not only is this a testament to the success of our teams, but more importantly it shows clearly where the agriculture market is going in terms of marketing.
In 2019, Precision Reach, leveraging Farm Market iD demographics and data, had a record-setting year, delivering over 60 million ad impressions -- which resulted in an 85% increase over 2018.
What’s more, 43% of those impressions were served within the fourth quarter alone.
This post will break down some of the successes we’ve seen with data-targeted digital advertising and what that means in terms of where the agriculture industry is headed.
2019: A Year-in-Review for Data-Targeted Digital Advertising
Display banner ads. Pre-roll video. Connected TV. Digital audio. Facebook. Instagram.
As the digital media landscape expands, so do the ways that you can connect with your ideal customer.
In 2019, Precision Reach rose to the challenge and expanded their product offerings to provide more agribusinesses more ways to approach farmers through their ads:
- Connected TV. On platforms like Hulu and Roku, you can serve video ads to your target farmers as they sit down to watch their favorite shows.
- Digital audio. Whether the farmer is listening to music on Spotify or Pandora, or catching up on the newscast, deliver an audio ad to your farmers. Maybe you’ll catch them while they’re on the tractor and you’ll have their full attention.
- Facebook and Instagram. Social media empowers you to interweave your content with all of the other information farmers are viewing in their news feeds. Boosted content lets you take any of your posts and put them in front of your target audience.
In total, Precision Reach delivered 492 total individual ad campaigns in 2019 -- serving over 60 million impressions. Here’s a breakdown by quarter:
For context, let's look at the cumulative impressions year-over-year:
Impressions are just the first step to a successful ad, however. Looking at the various channels that we deployed ads on this year, here are some of the other important stats to consider.
We'll start with click-through rates:
|Facebook Boosted Posts||1.50%|
For video, here's a chart looking at view completion rates over time -- this covers the over 9.8 million farmers who were served pre-roll video in 2019.
But agriculture is a very segmented industry. And one of the key benefits that our partnership with Precision Reach offers is the chance to target farmers in highly specific ways -- looking at crop, income, acreage, and other powerful demographics.
This helps you ensure that you’re targeting the right farmer -- and only the right farmer.
We took at sample of our data from 2019 and broke that down by vertical. Here are some of the key findings:
It’s not shocking that row crops are going to dominate the market, given that the vast majority of farm operations in the U.S. are row crops.
But it goes to show you that in 2019, data-targeted digital advertising is targeting the right audiences with engaging ads and achieving wide-reaching results.
Not only did Farm Market iD and Precision Reach have a wildly successful year in terms of data-targeted digital marketing in 2019, but it’s clear that the market is eager to participate in this kind of communication.
Now it’s a new decade. Are you ready to take your digital marketing to the next level in 2020?
If you’re interested in learning more, click here to watch our webinar on data-targeted programmatic advertising.