MediaRadar added Twitter and Instagram to its social tracking capabilities, in addition to Facebook and Snapchat, the company announced Thursday. Later this year, the company plans to offer geographic buying trends to the social feature.
"There are many new sales enablement and analysis offerings we have in our pipeline that we can’t discuss just yet," Todd Krizelman, co-founder and CEO of MediaRadar, wrote in an email to Search & Performance Marketing Daily.
The idea is to become a "one-stop-shop for all the information clients' need."
"The largest technical hurdles come from ad types," Krizelman said. "When we integrate data from new advertising platforms, we have to build technology that can recognize each platform’s ads as specific ad units. For example, not all social media has the same ad types and not all ad types are generating the same levels of revenue."
Krizelman said it took nearly two years to add the feature. The technology not only had to identify the ads, but ensure there is enough data to identify market trends. The company began collecting the data in January 2020. During that time developers built functions and user interface.
"We wanted to make finding the new data seamless for existing MediaRadar clients," he explains. "This way they will have a more complete and holistic view of the market."
New features in the MediaRadar platform capture image, video, carousel and other advertising formats across the social platforms through a panel of U.S. consumers, giving media buyers access to strategic ad insights, review creative, spend estimates, and access to paid social.
Advertisers will spend about $56 billion on social media this year, Statista estimates.
The new capability enables ad-sales teams to assess the importance of social media advertising to the overall media mix.
The feature also can identify advertisers buying social channels because it provides additional data and insights into understanding the value of certain product categories. It also can help media buyers view recent in-feed, carousel, and video ad creative running across social platforms; expose ad buying shifts across media types; and connect with the right digital media buyers at agencies and brands
Adding Twitter and Instagram to social tracking provides an omnichannel view of any brand's media mix. It helps media-buying and planning teams know where they should place ads to be competitive in their space.
MediaRadar supports more than 20,000 users such as ad sales teams and media and ad tech companies who have access to 4.8 million brands and more than 8,000 product categories. Sales leadership teams also use the data as a coaching tool.
Data for analysis is gathered across national television and print, as well as display, commerce sites, social media, podcasts, over the top (OTT), connected television (CTV) and other digital media.
The platform’s intelligence capabilities are powered by a proprietary combination of AI and machine learning.
Through its technology, MediaRadar distills advertisements across multiple traditional and digital sources into actionable insights and sales advice.