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What is a Real Time Bidding ?

Real Time Bidding or RTB as it was known, was the initial name for online traded media via auctions. Real Time Bidding is the buying or selling of ad impressions through ad exchange and platforms via Demand Side Platforms (referred to as DSPs).

Effectively the advertiser uses a DSP to bid on a publisher ad impression within milliseconds. They “bid” the price they are prepared to pay for that impression at the exact time. The closing price of that single ad impression is determined by various factors, but most importantly, immediate advertiser demand. i.e if there are a great number of advertisers bidding on that impression at that time, then the price will be higher compared to if there is only one advertiser bidding.

Another factor in determining closing price in Real Time Bidding is auction dynamics. Is this auction a second priced auction or a first priced auction?

These days the phrase “Real-Time Bidding” is has been replaced with the generic term of Programmatic Advertising.

Synonyms:
RTB
Related Articles:
Related Glossary Terms:
  • Ad Inventory
    Ad Inventory or Advertising Inventory is a term that describes the advertising space that each publisher has, and which advertisers can buy to host their ads.
  • Bid Rate
    Bid Rate is a Programmatic Auction metric that shows how many Bids are occurring in the Auction. The frequency cap and one's bid price are commonly used to determine this. The advertiser will only pay for gained impressions.
  • Open Exchange
    Open Exchange otherwise known as Open Ad Exchange (or open marketplace) is an ad buying and selling space that gives buyers access to inventory. It is a marketplace where all vendors, buyers, ad networks, and advertisers may purchase and sell digital content.
  • PMP
    PMP is a programmatic marketing term that stands for Private Marketplace. PMPs are a private advertising auction, as opposed to public marketplaces. Buyers may benefit from automation and ensure that transactions satisfy their customised needs by using a private marketplace inside a programmatic environment.
  • RON
    Run of Network (sometimes referred to as “RON”) is the term where an advertising campaign or PMP is applied to the entire network of websites within an Ad Network. It is actually a form of internet marketing where an online advertising campaign is applied to a wide collection of websites without the ability to choose specific sites.


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