Advertising Technologies- The Future of Digital Marketing
If you can’t measure it, you can’t manage it.
– Peter Drucker
Imagine a world without Google, Facebook, Twitter or Instagram. You must surely be thinking – “Oh! What a Scary Thought. It is Definitely Unbelievable”. Now, imagine the amount of time we spend on these platforms for our daily purposes like entertainment or gathering information. The term ‘Google’ has become synonymous with the term ‘Search’, and we often hear people saying to each other ‘If you want information, please Google it on the web’.
The dynamic nature of technology and its expansive reach has paved way for adopting and adapting to its use in every possible domain in the corporate world. Be it Marketing, Human Resource, Advertising, Logistics, or Inventory Management, you will not find any domain in the corporate world that has the capability to run smoothly and profitably without the use of required technology in today’s competitive times.
So, why should we even strive to imagine the future of Digital Marketing without Advertisement Technology. Let’s take a deeper look into the way Advertising Technology has changed the way advertising industry works.
What Exactly is Advertisement Technology?
Advertisement technology refers to the business of using technology to make the advertising process more effective, profitable and easier. Advertisement technology or AdTech is a business that gets its push from various algorithms and innumerable data points. Various tools and management support systems are provided by AdTech to the whole gamut of search, display, video, mobile, and social media advertisements, which are an integral part of the entire platform. The most fascinating part of the whole process lies in the application of continuous efforts for optimization of results by measuring various Ad Tech metrics like ROI (Return on Investment), Return on ad spend (ROAS), and gaining Consumer Insights. Like other industries this industry also works on the simple fundamental of Demand and Supply, where the publisher represents the supply side and the advertiser represents the demand side of the Ad Tech business. The supply chain of AdTech business includes the media agency, agency trading desk, demand- side platform, data management platform (DMP), Ad networks, ad exchange, supply side platform, and ad server.
Collection of various data about online activities of the users is an important aspect of Advertising Technology, and along with it what is much needed is various data analysis tools like Machine Learning which have made interpretation of large amounts of data a very easy task for the businesses. This definitely helps them in understanding, analyzing and optimizing the performance metrics related to their different campaigns.
What is the main job of an Ad tech Company?
An Ad tech company acts as a mediator between the advertisers who are looking to attract users on various platforms like smartphones and mobiles, and the publishers who have the desired content to attract those users. Advertisement Technology firms make use of various technologies and algorithms to deliver the most efficient advertisements with extraordinary speed and accuracy. Automation of the entire process of advertising ensures a smooth flow of revenue from the advertiser to the publisher. Programmatic ad buying, Programmatic Direct, and Real- Time Buying (RTB) methods are used for buying media through the use of various algorithms in the AdTech business. Some of the popular AdTech platforms include Smarty Ads, Media Math, and Simpli.fi
Understanding The Benefits of Advertisement Technology
- It helps in managing the budgets allocated for a particular campaign. Using various technology tools like Video ACR technology for the OTT platforms which improve the ROI of the campaign the businesses can manage the campaign budgets efficiently.
- Ad Tech helps in monitoring the campaign with the help of various available tools. This kind of information allows the business to spend more on the campaigns which are delivering better results than others.
- It takes into account the marketing funnel, and based on that a consumer can be targeted at the right place with the right strategy to convert him into a ‘customer’, which is definitely the basic goal of any Marketing or advertising strategy.
- It takes into account the Innovation factor in advertising. The way the advertisements are displayed, the place where they are displayed are unique and all this placement is done on the basis of scientific algorithms and computational processes.
Future Trends of Advertisement Technology Business
- Movement towards Consolidation: The industry is moving towards consolidation which means the bigger players are trying to acquire profitable independent companies in order to expand their offerings. To survive in such an environment a business must continuously innovate and gain expertise in some platforms.
- Niche Offerings: This business thrives on innovation, and innovation only can help the businesses in providing niche offerings to their customers.
- Storytelling: Storytelling is going to become more popular, and it can be used as a tool to attract more users.
- Increased use of Mobile and Video Formats
So, Advertisement Technology has changed the way advertising actually works, and it is going to get more and more dynamic with the way technology is changing the world.