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But how does an ad buyer know their ads are even displayed to a relevant audience?


You don't, but that's what's being sold. Not the old transaction, but instead the boarder awareness from the network of the market to create and deliver an audience.

Put another way, the book would argue that with the traditional way "relevance" was a reactive guess. Going forward the ability to create the desired behaviour is less of a guess and more predictable.




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