As published on BroadcastDialogue.com
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).
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!