Megan Pagliuca is Senior Director of Professional Services of Yahoo!'s Right Media.
Data-driven buying should be an integral component of every agency’s media plan, but using a technology platform as a central media trading arm is only the first step in designing a data-driven strategy. It is important to take a holistic approach and leverage all of the components of a technology platform, such as real-time analytics, buying, and market feedback. There are three core areas where innovation is essential for any agency to be successful: the development of new skill sets, the evolution of existing processes and the evolution of organizational silos.
Skill sets: Media traders don’t exist, they must be developed
Some agencies can be slow to adopt new technology for various reasons; one being they fear technology will replace people. On the contrary, people are critical to control the subtler pieces that technology simply cannot grasp and to deconstruct technology when new situations arise. Before digital advertising, relationships and big creative ideas made the advertising world go ‘round. But technology in no way replaces the human connection. To the contrary, technology enables the evolution and innovation of ideas, but the key element to success of the technology platform is inextricably linked to the media trader.