Data, Data, and More Data
The proliferation of advertising data is the epitome of a double-edged sword. On one side, we crave data and say “yes” to any we can get our hands on. On the other, we are inundated, drowning in data – struggling with how to best leverage it.
A recent Forbes article shared that businesses are now spending less time identifying and bringing in new sources of data and instead spending the time organizing and utilizing the data they already have access to. Media companies, often serving as the middleman between advertisers and viewers, are no exception. Obviously, this is not new information, but what is new is the advertising inventory available and the way we buy and sell it.
Trading in eyeballs for engagement and deploying integrated advertising campaigns, media companies have an opportunity to better interpret consumer engagement in order to deliver advertisers more quantifiable metrics, resulting in selling inventory for more of a premium. Key to this is connecting variable ad data sources holistically, i.e. being able to track audiences and activity, as well as measure across platforms – linear, digital, radio, and/or social (Facebook, Google, and Amazon).
Like with a Rubik’s Cube, media companies may get frustrated trying to align each side, i.e. their different data sets. However, with the right ad sales technology, all first and third-party data in the ad tech stack can be easily aligned to present a clear and concise window into their business, i.e. a solved Rubik’s Cube.
Centralizing the Workflow
Ensuring your tech stack is fueled by open API systems is a great starting point. This enables data to flow freely between systems. However, what good is having that data unless it can be integrated, utilized, and managed correctly! Matrix Solutions’ ad sales platform, Monarch, serves as a centrifugal hub to aggregate and normalize disparate data sources in the workflow, delivering users a holistic view into their business. It does not stop there – the unified view, real-time data, accessible from anywhere, anytime, on any device helps deliver key business intelligence and actionable insights which prompts users to where action needs to be taken and when. Proactive alert notifications further automate the ad sales workflow – empowering Account Executives (AEs) to sell faster, smarter, and more efficiently.
Monarch in a Minute: Constructing a New Intelligence Hub Case Study
One multi-platform broadcaster recently implemented Monarch, which immediately provided them with a “whole new hub to gather information.” Once exposed to the new intelligence hub, the excitement level and engagement increased at the AE level as they were able to successfully manage and grow their business. Managers not only gained daily views into where they were pacing but were also able to identify trouble areas that were holding them back, enabling them to develop workable solutions in a timely manner. Additionally, questions like “where are you to budget,” “what is your attrition,” and “what is your closing ratio” were easily and quickly brought to the surface. Serving as a media-specific ad sales platform, Monarch was able to aggregate and normalize all of the media company’s data, giving them a clear view into their business and enabling them to hit revenue goals faster than ever before.
Monarch in a Minute: Automating Sales Processes Case Study
Another radio broadcaster significantly increased productivity by replacing manual, time-intensive processes with Monarch. They were no longer tethered to a desk and thus gained more time to get out and sell. Daily, automated imports from the traffic system provided a snapshot of where business was at, eliminating the need for additional reports. Enhanced visibility into who owns what and is taking action where, made it so that no two people called on the same account, giving the company a more unified and professional appearance. Additionally, Monarch has created an organic, direct line of communication between AEs and their manager, putting all information right “at their fingertips” with split-second updates, accurate reporting, and the Matrix Locker feature, which houses all pertinent documents, such as uploads, scripts, and invoices, in one convenient, accessible location.
Using Technology to Deliver ROI
In a plug and play world, it is imperative to implement systems that support open APIs, while also deploying proper implementation and adoption. Utilizing technology to its fullest potential has proven to deliver up to 400% Return on Investment (ROI) and Matrix Solutions’ Monarch ad sales platform is no exception. Visit matrixofmedia.com/monarch to learn more or schedule your demo.