Learn and Leverage the Voice of Your Customer - Part 1
2022 AdTech Mandates and Insights
As agency and advertiser needs become more complex, AdTech firms are challenged with gaining a better understanding of what clients value from the relationship―how they can best learn and leverage the voice of the customer.
Through recent client engagements, Alexander Group has found that the following mandates are shaping the AdTech space.
- Increasing complexity requires a deeper understanding of customer needs
- Leveraging Customer Success as an account management function drives adoption and expansion of offerings
- Maximizing Customer Lifetime Value (CLV) grows the install base and offsets the heavy costs associated with onboarding customers
- Increasing focus and scaling functionality around connected TV, digital out of home and household IDs
- Providing dedicated support for ROI determination
In part one of this two-part video series, Quang Do and Igor Uroic, principals for Alexander Group, walk through these key concepts and the next steps AdTech firms should take for a successful 2022.
Leading media firms are translating the voice of the advertising and agency (VO2A) into higher revenue growth and retention. To do so, building a formal, repeatable process on a standard schedule is paramount. AdTech firms must also determine who are the cross-functional stakeholders that should be included and what type of format should be deployed to capture feedback and insights. Lastly, findings must be translated into action by developing a process to share them on an ongoing basis and establishing timelines to provide a feedback loop for clients.
Formal engagement options can be leveraged for richer feedback. VO2 engagement options can range from surveys, interviews and events to indirect AE/AM input. Each form of feedback has its pros and cons in terms of such factors as automation, dynamism, detail, time commitment and results analysis, to name a few. Taking into consideration resource constraints and survey fatigue can dictate how frequent VO2A processes should occur. A sustainable method will be either a) a point-in-time, infrequent and deep in scope; or b) frequent, real-time and narrow in scope. Findings generated from VO2A processes include the type of client support (balance of co-managed and self-service), differentiators (how are we doing with targeting, advanced reporting, awareness, incremental reach), spending decisions and channel and vertical strategies.
With this complex ecosystem comes the evolution, and proliferation, of AdTech roles. Late-stage media firms typically have the account executive managing opportunity development, close and post-sales/campaign management with a few support roles at each end of the sales cycle. Advanced firms, however, are employing multiple roles throughout the selling process including strategist overlays, specialists, ad ops and campaign managers. This ties in with the importance of Customer Success and increasing customer lifetime value. There are different flavors of Customer Success that you can deploy. Some are very tactical, others a bit more strategic. Depending on which client you’re servicing and what their needs are will shape the type of role that is necessary.
Part two of this series will feature Quang Do and Yang Liu, director at Alexander Group, who will discuss some of the challenges that AdTech is facing in regard to talent and sales compensation.
For more information on Alexander Group’s Media Sales practice and our AdTech solutions, please contact a practice lead.