In the past decade, we have seen technology taking over a large portion of our lives. It’s present in all that we do, enabling us to push past the traditional methods and trying new ways to do our jobs. With all this technological boom, we now have tech specific domains in which everyone is looking to excel. The idea remains the same but what changes is the way it is executed.
AdTech, as the name suggests, is about advertising. But with the suffix of ‘tech’ means that it has everything to do with technology and nothing to do with the traditional advertising techniques. Since the advent of time, marketers are trying to advertise one thing or the other, coming up with new strategies to woo customers and understand their target market to improve sales as well as create brand affinity.
While most strategies have been successful, with social media being thrown into the mix, marketers were quick to leverage it for their ease. Being connected to millions of people globally, meant potential customers/clients and nobody wanted to let the opportunity go. With time however, it became clear that the process, though initially promising, did not necessarily improve sales even if the digital media hype was perfect.
AdTech has come as an answer to all marketers and has proven to be an ideal tool for advertising agencies. The whole idea of this domain is to use tools and software to attract customers, get the message across and then see how it has affected the target audience. Previously, agencies and advertisers used to dump uniform content on the digital media, without paying attention to the time and space selected; the result was reinforcement of a message, to the extent where the customer would get annoyed. With AdTech, the space has begun to transform.
Advertisers are now more focused on putting out content which is platform specific and is targeted at people who would be influenced by what they see. This in turn has made the lives of marketers and companies quite easier. They can easily analyze the campaigns being run, understand the psyche of their customers and come up with more material relating to their particular mindset.
Cost effectiveness is another highlight of AdTech, with targeted marketing at the heart of the operations, money is now spent on spreading the message to specific audiences. Through AdTech, agencies are able to obtain reliable data about audiences, creating a database for various brands and adding to their profits through effective advertising.
AdTech is, without a doubt, an excellent opportunity for advertising agencies but as with everything else that’s new, there’s a lot of confusion which surrounds this domain. Agencies are not putting their full weight behind this as most of them are still trying to figure out the effectiveness as well as reach of this new space, but once they have figured it all out, the tools at their disposal will surely help them revolutionize the advertising world.
The concept has become popular internationally and various AdTech companies have cropped up over the years. Some of them are mentioned below for reference:
• Beeswax
• MediaMath
• Appboy
• AdRoll
• Amazon
All these companies have one thing in common, they are providing easy tech based solutions to customers, in order for them to be able to run their business more effectively. All of these companies have been doing really well in terms of profits which just goes on to show that with the right approach, AdTech will very soon become quite a money-making domain for entrepreneurs.
Here’s hoping to have many of these in our local ecosystem as well!