Media buyers, planners and marketers spend significant time analyzing raw data and using multiple tools to get a full overview of the ad market. Marketers and agency reps adjust advertising campaigns more frequently today than in the past, and struggle to gain access to key advertising information quickly to impact their rapid decision-making.
This prompted MediaRadar, the advertising intelligence and sales platform, to build technology that informs media-planning and media-buying decisions in near-real-time.
Free at launch, the tool enables marketers, media buyers and media planners to identify and monitor competitors’ advertising, product categories, key brands and more, to help buyers create the best media mix.
“We believed we could help and tested a potential product offering on a diverse group of agencies and marketers,” said Todd Krizelman, CEO and co-founder of MediaRadar. “Through testing, we confirmed that there is a strong need for a faster and all-around better way to gather the intel needed to build and adjust ad strategies.”
The platform, which was officially announced today, is fully customizable and enables marketers to see advertising budgets, which products are launched, and which audiences they reach. It also enables them to see where advertising dollars are spent, from Snapchat to programming decisions on Hulu.
About 200 agencies -- mostly media planners, media buyers and in-house marketing teams -- use the product.
They have access to about 4 million brands and 8,000 product categories, showing how media budgets are allocated in a variety of media formats, from traditional formats such as linear cable and broadcast TV to magazines and newspapers, to emerging digital formats like OTT, podcasts and social.
The technology uses machine learning and a sophisticated data infrastructure as well as developers to make it work.
The platform processes advertising data and insights quickly, updating the database with new data daily.
MediaRadar sources data directly, so the brand taxonomy is consistent across more than a dozen media formats.
The new product enables marketers and media buyers and planners to monitor the market and create the ideal media mix, discover new media formats that are a good fit for the company, easily determine the right media partners and vendors, and create client-ready analysis to inform strategies.