A good product or service needs visibility and outreach that extends beyond the realms of its existing operations. Word of mouth, customer experience, and online reviews impact the scalability of the business in many ways. Through multi-channel platforms, companies resort to advertising their product’s merits and hope to garner interest from prospective customers.
Identifying the customer’s consumption patterns and upgrading the product and service quality to match consumer preference aid in executing a good business idea. However, it takes efficient marketing to show to consumers that you hear them and understand their concerns; and that your organization and team have designed products that are beyond their expectations.
In the current world where information changes the relativity of relevance rapidly, companies will need data-crunching platforms that are part of advertising intelligence.
Need for ad intelligence
The best pizza in the world comes from a nameless joint run in a sleepy village of the alps. The world’s most expensive phone is not made by Apple, and there is someone who is making something as mundane as toothpaste that helps one preserve gum health but does not advertise its potential. Making the best product out there and being visible are two different things. The importance of advertising is iterated in many business lessons and even understood by people who believe in bootstrapping and moving on with their good work. Here are a few points that make advertising intelligence platforms necessary in changing world:
What is an ad intelligence platform?
Advertisements can remain in the memory of the consumer for years to come. This kind of advertising creates goodwill and brand value that will pay dividends years after the ad has stopped repeating or playing on any channel like newsprint, radio, and TV. In current times, with the increase in the use of the internet and more communities who are located away from the din and bustle of a big city also connecting to the web, the obvious choice for brands to create their presence is through digital mode.
Ad intelligence platform is software that can ease the workflow process of tracking the brand activities and let an advertiser know if a particular ad is creating the impact that one wants to create. The tools in an ad intelligence platform help assess the data points relating to where competition is spending their ad expense and the quality of traffic generated through a particular ad. These inputs can help in effective spending on advertisements.
Features of a good ad intelligence platform
The following features are consistent requirements of ad intelligence platforms
Integrate
The software must be compatible and integrated with existing ERP software that a company uses. It will be more beneficial if the software is cloud-based and allows the user to access it from any web portal.
Data security
Whenever software is used that will enlist sensitive information that is both relevant to the product details, marketing strategies, or client-specific sensitive information, it is the onus of the user to keep the information safe. So if a company is using pirated software without a license, the chances of data piracy increase. Without data security features, using any software that can compromise the integrity of the brand and corporate goodwill is a precarious move that will endanger the future growth of the brand.
Strategy prompter
A good ad intelligence platform does not just assimilate the information into readable data points but also gives the edge of recommendations that can prove to be workable solutions either in totality or with slight tweaking. This is one of the essential features of any intelligence tool.
Track and monitor
Checking over the shoulder 24/7 is humanly impossible and setting up teams on a rotational basis just to check the alerts for the launch of new ads of the competitor or any other insights that are useful is a cumbersome process that will escalate the costs, slow the efforts and result in human errors. An ad intelligence platform helps track and monitor alerts around the clock without errors.
Conclusion:
Using ad intelligence platforms will help marketing managers notch up their strategies and optimize the effectiveness of ads. The data provided in a simple-to-understand dashboard will help the brands with purposeful insights that will empower their growth.
