The 5 best ways to win a Bid Factor Award

The Bid Factor Awards (BFAs), organised and hosted by The Trade Desk, offer a prestigious platform to recognise and celebrate the achievements of your agency and brand in-house trading teams. These teams work tirelessly, often behind the scenes, orchestrating complex and time-sensitive campaigns in a competitive and fast-paced environment.

At the heart of the BFAs is the emphasis on celebrating the most innovative approach and application of digital advertising technology. This technology informs the seven BFA categories: data, multichannel, innovation, architecture, digital out-of-home, Connected TV, and trading excellence. 
 

In pursuit of impartiality, we assemble an independent panel of judges comprising brilliant minds from across the advertising, digital, and technology industries to judge the submissions. Their feedback benefits us all, as it can provide invaluable insights and help establish the awards as a significant event in the industry’s calendar.

Beyond offering recognition and feedback, the BFAs can give you the opportunity to:

• Benchmark your team’s performance against industry standards and identify areas for improvement and development, differentiating your brand from competitors.
• Develop your winning submission into a case study and promote it through our social media channels, our website, and occasionally, in the press.
• Boost morale – get recognition for hard work and success, invigorating your team, fostering motivation, and encouraging further innovation.
• Network – connect with peers from various sectors, share best practices, and aim to raise your profile within the industry.

In this article, we feature five recommendations a programmatic marketer should consider following to strengthen their chance of winning a Bid Factor Award – and to showcase their programmatic excellence.

1. Understand the criteria

It seems obvious, but always start by carefully reviewing the criteria for each award category. Get to know the specific requirements, and be clear on your campaign’s objectives, results, innovation, and creativity.

For example, to choose a winner in the ‘Best Use of Multichannel’ category, the judges typically look for campaigns that demonstrate a comprehensive understanding of cross-channel advertising strategies. These campaigns effectively use multiple channels to achieve outstanding results. They showcase innovative techniques like cross-channel retargeting, storytelling, frequency strategy, and impact analysis. Winning campaigns in this category also have implemented a cross-device targeting approach. They seamlessly reach and engage the target audience across various devices. Again, to qualify as ‘multichannel’, the campaigns must use three or more channels (such as display, native advertising, and social media platforms) to create a cohesive and impactful brand experience.

To really stand out, aim to emphasise any first-to-market initiatives or pioneering strategies that demonstrate your team’s ability to stand ahead of the curve, leverage emerging opportunities, and use decisioned media. Your supporting analysis of the campaign’s performance should highlight the cross-channel impact that you achieved.

2. Showcase your results

To effectively showcase the impact and success of your campaign at the BFAs, we urge you to address several crucial questions. By responding to these questions in your submission, you will give the judging panel a comprehensive overview of your campaign’s achievements and substantiate your claims with compelling data.

• How was success measured? Clearly outline the metrics and measurements used to gauge the success of your campaign. Discuss the specific key performance indicators (KPIs) employed, such as ROI, conversion rates, engagement levels, and audience reach. Emphasise how these metrics align with the overall campaign goals and demonstrate the effectiveness of your strategies.
• What data points demonstrate success? Share robust data points that highlight your campaign’s success. Provide specific figures, benchmarks, or statistics that showcase notable achievements, such as a significant increase in sales revenue, a substantial rise in website traffic, or a marked improvement in brand awareness.
• How did The Trade Desk’s platform help your team exceed expectations? Illustrate how The Trade Desk’s technology contributed to surpassing expectations and achieving exceptional results. Explain how the platform’s unique features, targeting capabilities, scaled decisioned media buying, or data-driven insights enabled your campaign to outperform initial goals.
• What factors contributed to the project’s success? Identify and discuss the key factors that played a significant role in the success of your campaign. These factors could include use of decisioned media over programmatic guaranteed, strategic decision-making, audience segmentation, creative execution, or innovative use of data. Illustrate how these elements worked synergistically to achieve the desired outcomes and differentiate your campaign from competitors.
• What new insights were uncovered? Discuss any surprising or unexpected findings that provided valuable information about the target audience, market trends, or consumer behaviour.
• In what ways did these insights inform future campaigns? Explain how the insights gained from the campaign influenced subsequent strategies and initiatives. Discuss the specific modifications, optimisations, or innovations you’ve implemented based on these insights. Illustrate how the lessons learned from this campaign have shaped your approach to later campaigns, leading to improved outcomes and continued success.

By addressing these questions, you can present a comprehensive picture of your campaign’s success, substantiated by quantifiable data, insights, and the contribution of our technology.

3. Tell a compelling story

You’re clear on the objectives, can demonstrate significant results. Now think about how you can craft a compelling narrative that showcases your strategic thinking, problem-solving abilities, and the unique journey of your brand advertising team.

Start by highlighting the wider challenges and obstacles you encountered, keeping the dynamic landscape and evolving consumer behaviours in mind. Dive into the challenges the brand itself experienced and the critical issues that the agency team had to overcome. Share the distinctive information and points of interest related to the background of the brand advertiser, such as the brand’s heritage, innovative approach to advertising, years in business, market competitors, and relevant market trends.

As you construct your narrative, aim to demonstrate your team’s ability to think outside the box and develop a unique approach. Showcase the innovative strategies, targeting techniques, or audience segmentation that set your campaign apart. Highlight how your team’s strategic thinking and collaboration enabled you to identify solutions and overcome the obstacles you faced. Show the impact of your creative use of our technology in addressing the challenges and delivering exceptional results.
 

4. Leverage client testimonials

Client testimonials are a powerful tool to reinforce the credibility of your submission and demonstrate the positive impact your trading efforts have had on your or your clients’ businesses. Including testimonials from satisfied clients or business partners can add an extra layer of authenticity and showcase the value you bring to the table. Here’s how you can effectively leverage client testimonials in your BFA submission:

• Consider choosing testimonials from clients or partners that have experienced significant results or notable improvements through your trading efforts. Look for testimonials that highlight specific achievements, such as increased sales, improved ROI, enhanced brand awareness, or successful campaign outcomes.
• Select testimonials that express satisfaction with your team’s communication, collaboration, and ability to understand clients’ unique needs. Client testimonials not only validate your trading capabilities but also reflect the strength of the relationships you’ve built.
• Integrate client testimonials seamlessly into your submission to enhance key points and reinforce your overall narrative. Place them strategically to support the claims you make about your campaign’s effectiveness, innovation, or strategic approach.

5. Incorporate supporting assets

Consider adding to your submission with relevant supporting assets such as images, videos, or existing case studies. These assets can help visualise your campaign, showcase creative executions, and provide additional context. Choose assets that effectively demonstrate your trading expertise and reinforce the key messages in your submission.

Entering and participating in the Bid Factor Awards is an excellent opportunity for programmatic leaders from both brands and agencies to receive recognition and celebrate their achievements. Plus, by understanding the criteria, showcasing results, telling a compelling story, leveraging client testimonials, and incorporating supporting assets, you can aim to maximise your chances of winning a prestigious award at the BFAs.