In 2017 digital advertising spend reached $209 billion, according to research from Salesforce. That’s a lot of budget. But it’s also going to a lot of places. Desktop, mobile, video, social media. In 2018, a full 66% of digital ad spend will go to Google search, YouTube, Facebook and Instagram, the company found.
(To say nothing of the costs associated with talent and tech required to run campaigns.)
Amidst the spending frenzy, how do you find the budget for the tools you really need? We’re talking, of course, about digital ad intelligence software.
Ad intelligence software has data on how brands spend money on digital advertising. That includes how much they spend, impressions they get, where ads show up, and what creatives they use.
Having this software is like cheating:
You can literally see exactly what your competition is doing.
It also provides full transparency into how your own ads get placed, so you don’t end up next to offensive content.
Point being: the ROI of digital ad intelligence software is strong. It makes you more money through better performing campaigns. It saves you money by showing you what works for the competition. And it preserves brand value by giving you full transparency into ad placements.
But the million-dollar question is:
How do you find the budget for this type of tool?
1. By Making an ROI-Centric Case for the Software
Prove how ad intelligence software will save or make your company more money. There are a ton of ways software like Pathmatics boosts ROI on campaigns, such as:
- See your competitor’s ad strategy. All the data on competitor advertising is right there. Use it to outsmart the competition—without outspending them. Advertise where they don’t or copy their most successful creatives. Ad intelligence data is a literal goldmine: you don’t need to spend your way to competitive advantage. And, you don’t need to spend tons of team resources tracking down competitive intel. It helps you earn more market and brand share far more cost-effectively.
- See your own brand’s effectiveness. Ad intelligence software like Pathmatics shows you the exact path ads take from purchase to placement. Directly apply this data to your purchase and partner negotiations to save money. After all, you’ll see exactly which middlemen take a cut at every point of the ad’s journey. You’ll also see which ads and channels give you the most bang for your buck. Ad intelligence software doesn’t just make more money, it cuts waste.
- Protect brand equity. Lack of transparency plagues brands that advertise online. Ad intelligence software stops you from appearing next to offensive or racist content. You’ll preserve countless dollars worth of brand equity by using it. And you’ll avoid the sales drops and crisis communications bills that come with these crises.
2. By Cutting Out Another Tool
We don’t want you to lose your favorite tech. But if you’re not using ad intelligence software, what is the other tech even for?
Ad intelligence software is a critical piece of a successful advertising strategy. Without it, you’re stumbling around in the dark trying to piece together what works and what doesn’t. In the process, you’re spending lots of money trying to figure it all out.
Other tools create plenty of value, don’t get us wrong. But if you don't have a strategy informed by data, you may want to see what your other tech is actually there for.
3. By Securing Initial Budget Savings Before You Buy
The beauty of a tool like Pathmatics is that it provides powerful data in a simple-to-use package. Seriously, it takes five minutes to get comfortable with the tool. Combine that with a free demo, and you’re in a position to try Pathmatics out for yourself.
Could you solve a challenge now, before you secure budget for an ad intelligence tool? Could you show cost savings now, before you buy, based on the information provided in a free trial or free top advertisers report?
Based on what we’ve seen in the past, it’s not out of the question. One of the best ways to secure budget for this type of tool is by saving some money before you even buy it. That’s usually solid proof for the people who hold the purse strings.
Ken Roberts has been immersed in marketing and technology for over a decade, merging creative strategies with the latest technology, to bring products together with the people who need them. With degrees in Engineering, Computer Science and an MBA, Ken’s background in product management, marketing, sales, analytics and technology lends to his ability to attack product challenges on multiple levels. Ken began his career developing software solutions for medical records before transitioning to marketing. Ken focused on building marketing departments and operating in-house agencies. Ken’s experience with digital platforms, internet based marketing, lead scoring and business intelligence, and reporting, as well as a keen market understanding, are a welcome addition to Pathmatics, only matched by a leadership philosophy that encourages high creativity and ownership from his team.