We all know it. The market is characterized by business giants who continuously build on their influence and distinctive success - Facebook, Apple, Amazon, etc. But how exactly do they achieve this power? How do they sense the right moment and get hold on the unseen opportunities? The answer lies in their ability not to struggle to find the possibilities for growth. Mckinsey’s "Disrupting beliefs: A new approach to business-model innovation "sets up 4 directions for business leaders to take to follow their example - innovation in customer engagement, activities, cost and resources.
Advertising technologies are the effective answer to these 4 points. Programmatic advertising is experiencing its own momentum of digital disruption in the industry with brands and agencies increasingly turning more to programmatic technologies. To line this with numbers: 52% of media company execs in a study conducted by Active International say their companies are likely to increase investments to expand programmatic capabilities, and 82% of marketers have executed digital ads programmatically in the last year.
The reason behind this growing interest is simple. The benefits of the programmatic advertising technologies go beyond the marketing campaign boost-up. What technology gives is more than campaign optimization - it gives business intelligence and market insights. Brands are now enabled to dig into the market ecosystem and explore possibilities like never before. Analyzing billions of data points to find the right moment and the right person to engage, understanding the pattern of behaviour of target customers, measuring between tactics and approaches, these are all steps towards unraveling the successful business model.
However, simply investing in technologies with idea that they will solve the disruption agenda by their own is not a viable solution. Strategy and technologies are intertwined entities which continuously empower each other. The model of approach should not be linear - first have the strategy ready and then implement the technological solution. Often the relationship between these two has been referred as a “balance”. In fact, the way they interact resembles more of an ongoing cycle - technological innovations inspire what strategies are possible. After that, the strategy develops and guides further where the next technological investment should be. The methodology of refinement follows an evolving cycle of knowledge, action, and feedback.
The Artificial Intelligence solutions of the AdTech industry bring additional value to this cycle. Machines can find solutions where people can’t. Their infinite ability to explore new possibilities and learn how to act to trigger the optimal outcome, transforms the business model from effective to intelligent, from wide reach to 24/7 global reach, from low cost to no cost.
History is made by people with vision. The famous quote by Steve Jobs, “People don’t know what they want until you show it to them.”, gives you all you need to know about the business innovation model. To be one step ahead, you need to be daring to explore. Digital technologies will help you do that smarter.