Media planning is becoming increasingly challenging with growing ad inventory in various digital platforms such as websites, mobile applications, CTV, DOOH, audio ads and many others, in this case, there is a need to have a proper means through which one will discover available advertising inventory and determine whether it can suit their needs. In this case and inventory discovery tool comes in handy as it will assist media planners to explore various inventory opportunities.
What is an Inventory Discovery Tool?
It is an online tool through which media planners and advertisers can learn about available advertising inventories across various publishers, websites, applications, devices, fomrats, geographic locations and media channels.
Instead of carrying out manual research of hundreds of websites or publishers, planners can use the tool to find inventory on the basis of following criteria:
- Ad format & size
- Website or application
- Type of device
- Geographic location
- Content category
- Available impressions
- Reach
- Media channel
- Characteristics of audience
They can make a better decision about where they should allocate their advertising budget by using the information.
- Discover Available Ad Inventory Finding available advertising inventory is one of the purposes of using an inventory discovery tool by media planners. A planner might require display advertising inventory for campaign targeting certain types of publishers.
- Understand availability of inventory It is not sufficient just to know if the publisher or website exists. Media planners should also understand if there is sufficient inventory available to launch a campaign. An inventory discovery tool provides valuable information like estimated impressions, volume of inventory, available formats, etc. This will help a planner to understand if certain inventory source has potential to cover the necessary scale for a campaign.
- Compare Different Sources of Inventory In many cases media planners have several options how to reach their target audience. An inventory discovery tool allows comparing various websites, apps, publishers or media channels on the basis of available data. A planner can compare: Website inventory vs app inventory, Desktop vs mobile inventory, Display vs video inventory, publisher categories, geographic markets, etc.
- Plan Campaign more effectively Media planning is process of researching, analysing, forecasting and making decisions. Doing manual inventory research takes quite some time, particularly if there is need for multi-channel or multi-market campaigns.Inventory discovery tools bring all relevant inventory data together in one place. Planners can use filter and search capabilities to select the most relevant options from a huge number of possibilities. Thus, they will be able to devote less time to searching and more time to the development of media strategy.
- Facilitate Audience and Targeting Choices Analyse of inventory could also help with targeting choices. Depending on which tool is used, the planner would have the ability to analyse inventory according to different aspects, such as geography, content categories, devices, environments, or audience related parameters. It should be noted that the tool does not replace audience analysis but provides helpful data at the inventory level.
- Enhance Budget Distribution Strategy The task of media planner is not only to discover the inventory but to decide how to use money efficiently on advertising in order to generate potential value. With the help of comparing of inventory volumes, formats, channels and other parameters, the planner will be able to build more intelligent distribution of budget.
- Assistance in Campaign Forecasting The information about the inventory can also be useful for the process of campaign forecasting. When planning the launch of a campaign, it is necessary to estimate whether there is sufficient inventory might change over time, early information can assist in creating more realistic expectations of campaigns and the availability of inventory.
Conclusion
The inventory discovery tool can be considered an important aid for modern media planners. With the help of this tool, media planners can investigate, analyse, compare and evaluate the available advertising inventory before media buying. From searching for the new sources of inventory and the amount of available impressions to comparison of different media channels and budget distribution, this tool allows streamlining the process of planning.
Above all, the inventory discovery provides media planners with important information about the advertising environment. With this information at hand, media planners are able to develop more effective media plans.