AdTech: 4 Key Challenges and Solutions for Local Advertisers
Did you know that 90% of search users haven’t made up their minds about a brand before starting their search? The local advertising market has grown dramatically in recent years, but it’s not all good news. The majority of digital advertising spending goes to large national brands, which leaves smaller advertisers searching for ways to break through the noise. Some challenges include:
1. Limited budgeting options
2. Low targeting capability
3. A steep learning curve
4. Low ROI metrics
It’s easy for local advertisers to feel like small fish in a big pond in the digital space. When your media agency is competing with these bigger brands, how can you be sure your client is reaching their target audience? Cutting-edge AdTech is the key.
Here you’ll find four challenges local advertisers face and how you can solve them with the right advertising technology.
Making the right budget decisions
There are so many options, and chances are your client’s budget is already stretched pretty thin. You don’t need an unlimited budget—you just need automated budgeting tools.
You can allocate spending based on predefined rules and tactics. Set budgets automatically so you don’t have to spend time manually creating individual budgets for each campaign or be held back by expensive retargeting strategies.
Limited access to data
When you’re juggling variables like demographics, location, budget, and different media tactics, you need to take the guesswork out of the equation. Americans are exposed to anywhere from 4,000 to 10,000 ads every single day. Why shouldn’t you take advantage of that existing data to optimize your campaigns?
Don’t approach your marketing strategies blind. Local advertisers can tap into valuable consumer insights about their business and its surrounding area. Leverage that data to fine-tune your strategy and drive more effective decisions about which channels to pursue (speaking of which, the benefits of an omnichannel strategy cannot be understated).
Third-party tools are too expensive
Not only do these “solutions” eat up a large portion of your budget, they only solve one problem at a time, making it necessary to buy even more! There are so many tech solutions, but it seems like they all provide a specific answer to a specific problem. To cobble all of these tools together would not only be costly, but ineffective. There’s no guarantee that they would play nicely together either.
An end-to-end workflow technology helps boost your revenue, not devour it. Increase your ROI by narrowing down specific demographics and then building highly targeted campaigns around them.
There are too many ad platforms to choose from
It can be overwhelming when faced with a multitude of platforms like Google, Facebook, Instagram, and others. How can you be sure you’re making strategic decisions that will pinpoint your ideal audience?
First, you need to make decisions based on campaign performance. Robust analytics are key when it comes to making informed choices.
It’s also important to take advantage of forecasting to get an accurate estimate of how your budget can maximize reach. AdTech tools can also help you optimize your bidding strategy.
Why cutting-edge ad technology is the solution
Advertising technology makes it possible for local advertisers to zero in on their audience. Using advanced machine learning algorithms, local advertisers can identify exactly which audiences to target.
By using an intelligent platform with sophisticated targeting and reporting capabilities, local advertisers can reach relevant audiences and use big data analytics to measure their performance.