If you work in an advertising agency or as a marketing director at a corporation, you may have heard a lot of buzz about Programmatic Media Buying and Real Time Bidding.

What is Programmatic Media Buying? In a nutshell, it’s essentially computerized media buying, although that may be an oversimplification. Peter Naylor, former evp at NBCUniversal says that Programmatic is “…advertising’s newer, better mousetrap. (It’s) a catchall term that many people are using to categorize everything from behavioral and intent-based targeting to real-time bidding and exchange-based buying of inventory.”

But Programmatic isn’t the only thing you need to understand. You should also wrap your mind around Real Time Bidding.

Real-time bidding (RTB) refers to the means by which ad inventory is bought and sold on a per-impression basis, via programmatic instantaneous auction, similar to financial markets.

That definition probably didn’t clear things up much, but fear not — our friends at Fiksu created an infographic that does a good job of laying out what Programmatic is and what Real Time Bidding is, and how both of those technologies can be leveraged in mobile.

The infographic begins to introduce some of the important concepts around digital marketing that you should know about. It doesn’t cover everything, but it’s a great start.

Speaking of which, if you want to learn more about digital marketing, programmatic and real time bidding, stay tuned to these pages. We posted a great overview of the important concepts in digital marketing on this post last week, and will be doing more and more posts on this topic as the days go on.

In the meantime, check out the infographic below. It’s a great overview about a quickly-evolving topic and should get you headed in the right direction on some of the more complex and sophisticated topics that are coming down the digital marketing highway as we speak.