New TV ad marketplace claims end for RFP Process
Joseph O'Halloran ©RapidTVNews | 07-03-2012
Adap.tv believes that it has not only launched the first platform to launch upfront video buying technology, it is also offering the first media buying platform to automate the way of securing future inventory across multiple screens.
The TV and video advertising technology specialist believes that video advertising is a growing industry, but the RFP (Request for Proposal) buying process is still based on an offline, manual system - as a result of which most media planners agree that a significant part of the average media plan cost is currently wasted on administrative activities.
By way of contrast, Adap.tv is confident that with its Upfront Marketplace it can provide a programmatic way to plan, buy, sell and measure, reducing the amount of time and money spent by media buyers and sellers on managing this once time-consuming process.
Upfront Marketplace is designed to engage sellers in an auction so that media buyers can secure the inventory that is right for them, quickly and easily. Data enables users to identify audience-specific inventory using target demographics and connect with the sellers whose inventory matches their specifications.
For sellers, the company says that improvements and automations made to the media buying process result in a reduced cost of sale and improved access to additional demand. Prior to being invited to participate in the Upfront Marketplace, sellers are pre-qualified across a variety of data and metrics, eliminating the need for RFP or response. The sale is qualified for buyers, which streamlines deal closings and time to cash for sellers.
“The traditional media buying process is not time and cost efficient when it comes to buying video. Adap.tv is combining its technical expertise and understanding of how media is currently bought to provide players with new opportunities and ways to do business,” says Brian Fitzpatrick, managing director for Adap.tv in Europe. “The programmatic approach addresses the issues caused by audience fragmentation and the proliferation of viewing devices.”