Being in the business of amassing online ad spaces can be tricky, especially because it is future based. But they say the future becomes less tricky with knowledge of the past. Well, is it true? Was Boris Becker’s first Wimbledon loss ever correctly predicted along his winning history? Does an airplane having an impeccable performance record imply it will never suffer an accident?
Experience tells me that history, although useful, has never been the best judge of the future. We are it, and yet we use computers, because dependable predictions require real-time data and a massive number of variables, impossible to process by humans in a practical way.
How to identify ad spaces with high returns potential?
How to satisfy advertisers belonging to specific geographies using specific technologies?
We all have at least some answers to these, but the degree of reliability does vary greatly. Besides, with ad networks buying ad spaces for inventory, inaccurate analysis is simply not recommended. And the swift evolution of electronic devices makes it even more difficult to predict what will work in the future.
Advanced ad targeting is the only way to link advertisers to ad spaces in a profitable way. It lets you identify your best options and the subtle compatibilities between ad spaces and advertisers. Adtech or advertising technology, which is available from niche software providers, uses a complex hierarchy of information to decipher compatibilities. However, the technology should allow you to find relevant information easily.
Optimizing an ad inventory is the most crucial part of running an ad network. The inventory forecasting feature in your adtech solution is a must-have, and it will help you stay abreast with the needs of the market.
Although you might intuitively know what your clients (advertisers) demand, investing heavily in the same might prove risky. Besides, it is difficult within short turnarounds. That is why most ad networks feel safer with the approach of keeping a ready inventory. But are you buying too much ad space? Should your investments be optimized better?
While large volumes of ad spaces are necessary for generating ROI, quality forecasting is equally important.
Software that has analytical capabilities should also be user friendly. It is never a good idea to opt for software that blurs your vision in the process of delivering a feature-rich experience. Opting the right software is not easy, because knowing whether the software will be user friendly, is only a matter of first-hand experience.
Now, let’s chalk out what your adtech software should deliver:
- Batch and real-time reporting – Always look for reporting features to know how your ad space investment is performing in real-time and on a periodic basis
- Interactive features – Your stakeholders need to be well informed and be able to take collaborative or group decisions efficiently after proper media planning
- Intuitive dashboards – User-friendly interfaces for monitoring your investments is a must-have
- Dynamic querying – Find out if your provider is able to let you handle complex queries requiring mining of multiple data sets
With your professionals already using smartphones these days, a mobile adtech solution will help keep them informed and updated at all times. As a result, updates on inventory forecasting will prove to be helpful exactly when it matters. Opting for mobile adtech solutions also allows startups to rely on modest investments initially.
Image credit: CC by Pete