Automation is a Revolutionary Process
Automation has always been a revolutionary process: think hand-written books before the Gutenberg press, horse and carriage before the automobile, washboard and tub before the washing machine, or the atlas before GPS. When it comes to buying and selling advertising, the revolution of automation is no different. A process that was once based on a handshake, took weeks, if not months to execute. That process has since evolved with the dominance of email and now another evolution is on the horizon with the growth of automation. Today, the execution time from pitch to on-air is exponentially shorter – days, hours, even minutes in some scenarios, giving buyers the opportunity to efficiently target their ad dollars and allowing sellers the opportunity to optimize inventory from both a time and money perspective. Like so many previous evolutions, this open door for improved automation processes, has been driven by advanced technology and innovation.
Whether a company relies on out-of-date or legacy software that is incapable of plug-n-play data transfer, or a company has a fear of working with competitive software vendors, automation to date has generally been a 1:1 intimate coupling, rather than an open industry practice.
Connectivity Paves the Way for Automation
Media companies today can easily be seen relying on approximately 100 or more different systems to power their sales technology stack. Data from a handful of those implemented systems can be connected, but a full end-to-end, seamless flow of data does not exist. This need for data to be accessible and flow freely and consistently between all systems in a media enterprise has become vital. With access to true and reliable data, team members can be more productive, processes can be more efficient, the speed of cash flow can be increased, and errors can be drastically reduced, thereby ensuring valuable inventory is optimized for new sales campaigns that will bring in revenue as opposed to being filled with zero dollar make-goods.
The significance of actionable data itself has moved up in value in the workflow, now serving as a catalyst to how media is bought and sold. Advertisers want to focus buys around audiences based on targeting and behaviour. Sellers want to optimize and efficiently use their inventory, selling based on those quantifiable audiences. Having correct and sufficient data is crucial to both but is a moot point if it is incomplete and/or inaccessible to either. Moving to a more open infrastructure that will aggregate and manage all the data throughout the enterprise is the key to connectivity and is what paves the way for automating the flow of real-time data throughout an entire system.
Introducing Matrix Sales Gateway
Matrix is a leading and innovative technology company that is dedicated to understanding and providing solutions to the sales organizations of media companies. Comprehending the sales process has allowed them to actively assess, plan, and develop an automation system that will advance the efficiencies of the sales process. Matrix has recently announced the development of a new sales gateway that will support tech-enabled negotiations, significantly streamlining media ad buying and selling. This sales gateway will deliver the automation needed to increase operational efficiencies and provide easier and clearer access to the data needed to support the media advertising buy/sell process.
Additionally, the Matrix Sales Gateway will:
- substantially speed the sales process, resulting in faster cash flow and higher revenue/profit
- assist in the maximization of inventory
- reduce errors and the need for multiple entry points
- allow for better management of the sales process through robust reporting and analytics.
Utilizing the TIP Initiative standards, the Matrix Sales Gateway will allow for the ingestion and dissemination of data from all providers’ systems within the sales negotiation and execution process. Connecting negotiators and sales teams, the portal will also provide inventory management across all channels, assist with efficient proposal development and negotiation for both agencies and advertisers, as well as provide in-depth reporting and analytics into price optimization, supply & demand forecasting, and historical information.
Currently in beta with one of the industry’s well-known broadcast groups, the Matrix Sales Gateway is able to automate the process of:
- receiving the RFP
- logging it
- creating a proposal in Sales
- sending a proposal XML file, and
- sending the order to Traffic.
Each step in the process is tracked and recorded in CRM, delivering a real-time accurate forecast. The development of the Matrix Sales Gateway will be an ongoing venture with an end goal of delivering the highest quality platform that will allow buyers and sellers to focus on the needs of the advertisers as opposed to workflow operation or technology issues.
Revolutionize the Automation of your Workflow
Connectivity is key to delivering greater visibility, enhancing operational efficiencies, and fueling automation. In a plug-n-play world it is imperative to implement systems that support open APIs, while also deploying proper implementation, execution, and adoption. Utilizing technology to its fullest potential has been proven to deliver a Return on Investment (ROI) of up to 400%. Couple that with the inherent benefits of tech-enabled negotiations and data automation and we are truly stepping into the future of media ad buying and selling.
To learn more about the Matrix Sales Gateway, contact sales@matrixformedia.com.
