Infinitive’s CEO Denis McFarlane and Steve Malinchock talk about how media and publishing companies can take advantage of the massive and unprecedented political advertising investments that will come in the next year. The good news is they don’t have to switch out their entire AdTech stack; indeed, it’s all about the data. By focusing on a few key actions, publishers can boost efficiency and increase profits from the huge wave of revenue coming their way. The key areas include:
- Master Data Management (MDM): The first step is to clean up data to clarify who you’re selling to. That means making sure that sales and operations teams are using the same tools and systems and are following standard processes. Also, all systems – from CRM to sales and finance – should be using the same data. That makes it easier to enter orders, track performance, send invoices, and pay commissions. Further, you have to set up the right client and brand hierarchy to avoid duplicate data. With so many different campaigns and candidates buying spots, this is especially important for political advertising.
- Deeper insights through analytics: One of the benefits of solving for MDM is that your data becomes more valuable with clearer views into how ads perform and viewers react, which can help optimize pricing. Infinitive is working with a number of organizations to develop deep media insights.
- Product catalog design: Rationalizing and standardizing products helps media organizations operate more efficiently while focusing on their highest-yield products. In some cases, publishers may have thousands of different products, though most of them are never used or sold.
- Training: Even with the highest quality data, sales and operations teams need to understand how to use new tools and where they fit in big-picture processes. Role-based training is key to ensuring adoption and increasing efficiency.
For media and publishing organizations that want to make the most out of the huge opportunity ahead, the time to start taking these steps is now. For more thoughts on the 2020 elections and the sales “tsunami,” check out our previous video.