In the current digital era, the internet is a field of endless opportunities. Unsurprisingly, with the number of time users are spending online, the Digital Advertising sector is blooming. Owing to this, the term ‘Ad Tech’ has surfaced with many businesses looking for ways to use AdTech that will give them monetary benefits.
Did you know that digital ads in the US accounted for more than $107bn in 2018, according to the IAB Internet Advertising Revenue report? Additionally, the reports further noted that the UK advertising market is worth £13.44bn, with an increase of nearly 15% y-o-y, the majority of which coming from smartphone advertising.
So, yes, the digital advertising business is flourishing. However, what is Ad Tech’s role in it?
What is AdTech?
Ad Tech, short of Advertising Technology is a term used for systems and programs that help you manage and analyze your advertising campaigns. Basically, it covers the entire delivery process, right from the content of your ad and who it should be displayed to. Using data and analytics, Ad Tech helps businesses see the ‘bigger picture’ and helps them reach a more relevant audience, with lesser budget.
Speaking of purpose, Ad Tech basically focuses on increasing the effectiveness and managing the growing activity on the used ad space.
Ad Tech is basically at the centre of the advertising ecosystem that comprises of the following:
- Demand-side platforms
- Ad Exchanges
- Supply-side platforms
That being said, Ad Tech is only useful when there is sufficient and relevant data. Digital advertising can be extremely costly and before initiating the use of Ad Tech, you need to be sure you have the capability of running ads. The whole set-up of running ads on online platforms can be demanding and require technical and logistical expertise. Ad Tech companies do help in this scenario. With the power of data, they are able to streamline your ads and show it to those users who could actually be interested in your business.
Bottom line, for Ad Tech to work, one thing is extremely important; data, data, data.
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