automation company iSocket will introduce an automated way to buy premium, guaranteed inventory in an effort to help media buyers lower expenses, and reduce the number of steps needed to complete the
The model also aims to eliminate discrepancies and the potential for human error.
iSocket for Advertisers (iFA) directly integrates into ad servers. The model does not
require allocating inventory to a private marketplace or open exchange; it allows media buyers to plan and execute a fixed price any time.
"Most premium publishers only allocate a fraction of their inventory into a private marketplace or exchange, and usually not the best quality," said Richard Jalichandra, CEO, iSocket.
Media buyers at agencies and brands can browse iFA's publisher catalog and buy reserved inventory directly from any of iSocket's publishers, like Microsoft, Conde Nast, Reuters and Forbes. The interface can integrate with other enterprise systems. Automation enables publishers to set lower minimum buying triggers for media buys or execute even the largest orders with little effort.
Manual buying processes waste time. On average, it can take up to 50 steps to complete a direct sale, and can require as many as a dozen people. Media buyers spent $14 billion on directly sold digital media in 2013 -- and nearly all was done manually through spreadsheet proposals, paper contracts, emails and faxes, according to iSocket.
iSocket recently announced $5 million in new funding led by Time Warner Investments, with participation by Conde Nast.