As the process of media transacting becomes increasingly streamlined, the number of buyers a publisher interacts with continues to increase. While many are hidden behind the real-time technology stack, publishers have many more counterparties buying their inventory than ever before. The increasing presence of technology and complexity of the media transaction process has created a new need – product information management. The recent acquisition of Yieldex by AppNexus for its forecasting capabilities and programmatic direct platform is a clear indicator that the big players are beginning to recognize this need. Ad Ops and Sales teams need an electronic map of the inventory landscape. What is on the map? How much of that inventory do they have? At what price should it be sold? In which channel? Publishers need an “app” that can do all of that by automatically collecting and analyzing data. Remember Programmatic Inventory Has A 'Yellow Pages Problem'? Folks have been talking about this since 2012
With that in mind here is a simple question: do publishers manually update their audience data? Are there analysts that update cookie profiles? We all know that the answer to that is no. So why should publishers have to manually create all their placements, ad units, products, and guaranteed targeting in the ad server. Publishers should have tools to scale up that process using technology.
Today, solutions construct a single view of the future. In reality, there is not one future, there are a bunch of possible futures each of which has a different probability of becoming reality. The future is uncertain but understanding the landscape of things that will very likely happen, will probably happen, and might happen can be clearly defined.
Obviously there are too many ways to sell and too many prices for today’s manual processes to address. The problem is that you can’t just update the current process. Almost all of a publisher’s new buyers have a very specific set of buying criteria for media. None of these criteria exist on the rate card and none of them has a price someone can just look up. It’s just too complex to sell that way. In the real time environment, data companies have filled the need for near instant classification of impressions for sale and pricing is solved for via auction. What has not changed is how publishers classify forward inventory.
Fortunately, these problems have been faced by other industries and has been solved for them by some of the best technology companies in the world, Oracle and IBM to name a few. It’s called a Product Information Management System (PIMS):
Centrally managing information about products, with a focus on the data required to market and sell the products through one or more distribution channels. A central set of product data can be used to feed consistent, accurate and up-to-date information to multiple channels such as sales teams, marketplaces, and direct deals. - Modified, from Wikipedia
Some will contend that they have such a system. While that may seem true, almost all the information in their system is created, maintained, and updated manually. Again, do publishers manually update their audience data?
A product information management system for publishers should be designed to be integrated with all sales channels, provide an accurate and constantly updated catalog of all the things that you can sell, how much inventory is available for each, and its price. Synchronized systems allow publishers to increase prices as inventory is selling out or decrease it if it is going unsold. It keeps sales teams, marketplace offers, technology partners, and ad ops teams all on the same page. Publishers can present any package they could possibly sell, with an appropriate price, to any sales channel, at any time through a single synchronized platform.