Selling AdTech Solutions: 5 Key Steps to Success in 2022
- In the past few years, the methods of delivering adtech solutions have dynamically transformed the industry
- This sudden surge has left marketers scrambling to capture the eyes of viewers whose attention is more divided than ever
- Adtech offers a way out with its countless opportunities
- As it continues its spread, ad tech companies will be able to develop more integrations, more data sharing, extended reach across all channels, and cleaner integrations against content
You run ads, and then your ads dominate the industry. All thanks to the brands that worked on it with laser-sharp focus.
However, there is an invisible force that is keeping the lights on–adtech.
Advertising technology has been around for a few years, but it only recently caught the attention of savvy ad tech agencies.
In the era of rapid digitization and big data, brands are recognizing the need of striking long-lasting relationships with ad tech companies to make themselves more powerful and attractive to clients.
The industry is already rife with fierce competition, operating at a breakneck pace.
In the age of social media, agencies are feeling the need to investigate innovative ways to interact with relevant users, rather than relying on typical broadcast or digital media buys.
The advantages for agencies investing in adtech are plentiful. According to the Global Ad Spend Forecasts 2021 by Dentsu, global advertising is forecast to recover upto 10.4% growth, reflecting a total spend of $634 billion.
So, while the purpose of advertising has not changed much, the methods of delivering it have definitely evolved.
How do you navigate this landscape?
From aligning sales and support to providing effective onboarding, we bring you the top 5 factors to consider while selling adtech solutions in 2022 and beyond.
1. Differentiate Yourself
The competition in the adtech space is fierce because there are thousands of companies that compete for a vast, yet growing amount of money. From Google to a budding enterprise you haven’t heard of, the competition is undoubtedly high.
To succeed, adtech companies must find their niche. This is how you can ensure your service remains in demand, no matter who or what is in control of the market.
Start with a good idea that has not been capitalized on.
The future of adtech involves understanding industry trends and what the customer needs. Successful adtech solutions locate holes in the marketplace and work backwards from the needs of these customers to develop and deliver a solution.
Effective content can be your weapon of choice here. It is a proven scalable tool while being relatively inexpensive to promote and position your company in a potentially saturated market.
From leveraging different content formats to providing greater value, there are many ways for companies to position themselves.
2. Specialize Your Sales Team
Many companies, especially in the software sector, have discovered the power of specializing their sales functions to achieve new levels of growth.
While adtech companies aspire to be software, only a few have started thinking like software companies, especially when it comes to sales.
The guiding philosophy of specialization is that sellers should focus on closing rather than prospecting. Moreover, they should leverage a specialized “sales development” function to find qualified prospects that match their target criteria.
This specialized sales function should also move away from account management and growth which then would be taken care of by teams specializing in the said skill.
3. Don’t Discredit Long Tail Sales
As you get more successful with your adtech solutions, it is tempting to focus on the big hitters. However, many of your competitors are also aiming for the enterprise level, making it a more competitive field. You actually face less competition when dealing with a small business.
In the US, 28 million small businesses in America account for 54 percent of all sales in the country. Needless to say, the long tail in digital media accounts for a significant sum.
Advertising technology must be worked upon, keeping this in mind.
In today’s hyper-connected culture, many of these small enterprises are connected via bigger consortiums. Making connections with appropriate decision-makers is much easier.
4. Build Your Own Tech Stack
As passionate as most adtech companies are about their prospects’ technology choices, many don’t apply the same concern for their own sales or marketing tech stacks.
Some crucial elements such as sales automation, marketing automation, CRM, and a couple of key data sources are key to the success of your adtech solutions.
CRM governance and hygiene are increasingly critical for garnering insights over long sales cycles and with increased cross-functional account involvement from specialization.
5. Increase Your Investment
While we are in a better place than we were six to 12 months ago, the market still remains uncertain.
A knee-jerk reaction for most companies in a recession is to cut marketing spend and cease all marketing activity. However, this can prove to be fatal for the growth of adtech solutions.
Marketing is no longer a ‘nice-to-have’ function. It is central to business operations and holds vital things like customer experience, user experience, and customer trust and loyalty.
Smart marketers, over the last two years, changed and increased their investment compared to their competitors. They were able to grab a larger share of voice, and consequently, they feel they are able to grow their market share.
Success in 2022
The adtech solutions space is getting more complex and competitive every year.
For adtech companies, the priority is quite clear: build everlasting relationships by providing a stellar customer experience.
With the right tools and mechanics in place, it is completely possible for adtech companies to set themselves up for success, even in the saturated digital media space.