The world of digital advertising is a fast-paced, complex industry that involves multiple stakeholders, intricate processes, and tight deadlines. Even more complex are advertising sales and operations within the Entertainment and Media, and Retail Media segments of the industry, whose constantly evolving revenue models require an increasingly strategic approach for organizations to stay ahead of the competition and achieve sustainable growth.
Automated workflows have proven to be a powerful tool for achieving both objectives and has many organizations searching for automation solutions to streamline operations and maximize ROI. This article explores the significant impact and tangible benefits of automated workflows on ad sales and operations and the effectiveness of this transformative approach. But first, let’s examine some key insights our research and survey of ad sales and operations professionals surfaced.
• Ad sales and operations professionals (Ad Pros) feel time and efficiency pressures, causing them to be resigned to errors. Our research showed that one in four Ad Pros believe their company provides too many makegoods as a result of errors. “It’s not about if you’ll make a mistake, it’s when!” Vlad, Ad Operations. Lack of efficiency and decentralized tools are common pain points.
• Most sales and operations professionals agree that automation can help both their individual roles and the overall organization.
“It’s hard to have the capacity for it all.”
Allison, Ad Operations
• Three in five ad sales and operations claim they don’t have enough time to be more proactive.
• 79% of Ad Pros believe the tools or solutions they are using could be better.
• The majority of Ad Pros (75%) believe automation can save employees’ time.
“Automation could save 5 hours a week per person.That could be thousands of hours a month and help us gain better insights.”
Ave, Ad Sales
The Power of Automation in Advertising Operations
There’s no question there is a compelling case for the adoption of automated workflows in ad sales and operations. Particularly when the benefits are backed up by statistics.
• Efficiency Boost
According to a report by McKinsey & Company , automation can improve operational efficiency by up to 20%. For ad sales and operations, this translates into streamlined processes, faster campaign delivery, and reduced overhead costs. This increased efficiency also allows sales and operations teams to focus their efforts on high-value activities, such as client relationships, strategy development, and creative work, ultimately driving revenue growth.
• Reduced Errors
Manual processes are susceptible to human error, which can result in excessive, and costly makegoods in the advertising industry. Automated workflows minimize the risk of errors by enforcing consistency and accuracy across a variety of tasks such as data entry, ad placement, and campaign tracking. A study by Aberdeen Group found that companies using workflow automation experience a 90% reduction in data errors.
Fewer errors mean fewer revisions, quicker campaign launches, and higher client satisfaction. This translates into better client retention and an increased likelihood of securing new business, positively impacting ROI.
• Time Saving
The same Aberdeen Group study also reported that automated workflows lead to a 50% reduction in the time required to complete tasks. In the fast-paced world of digital advertising, time saved is money earned.
• Data-Driven Decision Making
Analyzing advertising data is essential for making informed decisions. McKinsey estimates that automated data analysis can reduce analysis time by up to 50% , enabling faster optimization of campaigns. Data is at the heart of advertising operations today. Automated workflows enable organizations to collect, process, and analyze data more effectively. By harnessing the power of automation to analyze advertising performance data in real-time, organizations can make informed decisions to optimize campaigns, allocate budgets more effectively, and identify opportunities for upselling or cross-selling to existing clients. This data-driven approach leads to improved ROI by ensuring that resources are allocated where they will have the most impact.
• Enhanced Collaboration
According to a report by Harvard Business Review, organizations with strong collaborative processes are five times more likely to perform at a high level. Automated workflows facilitate seamless communication and coordination, leading to improved collaboration. Automated workflows also ensure that everyone involved in the advertising process has access to the right information at the right time. This not only reduces friction between teams, it ensures that campaigns are executed more efficiently, contributing to increased revenue.
• Scalability and Flexibility
As your business grows, the ability to scale operations becomes essential. Automated workflows are highly scalable, allowing you to handle an increasing volume of campaigns without a corresponding increase in operational costs. Automated workflows also offer flexibility by adapting to changing market conditions and client needs. You can quickly adjust processes and workflows to accommodate new advertising channels, formats, or strategies, ensuring that your business remains competitive, and ROI remains high.
Automation isn’t just a trend; it’s a necessity in the fiercely competitive world of digital advertising. By improving efficiency, reducing errors, saving time, and enhancing customer relationships, automation can have a profound impact on ROI, and empower businesses to make the most of their resources and investments.
However, positioning your team for sustained growth and success in the dynamic world of advertising requires the right automation solution. Upward by Theorem is a comprehensive automation solution tailored to the specific needs of your business. Contact us today to learn more about harnessing the power of automation with Upward and get ready to scale your business to the next level.