Ad tech and media companies know the importance of differentiating themselves in a highly competitive market. Partnerships across networks help them stand out.
After all, they’re up against Google, Amazon and Facebook in media and advertising. These three ad tech behemoths offer a seamless payment experience with self-onboarding, unlimited ad dollars, expert publishers and much more.
So, how can anyone that hopes to compete with the Big Three uplevel their payment experiences?
Improve the onboarding process
Late and missing payments are an express pass to sour relations with publishers. Payee onboarding challenges can serve as a gateway to these erroneous payments. Inefficient onboarding often leads to data entry errors, such as using an unreliable email address or web forms that don’t validate payment details.
Advertisers need to account for many factors when onboarding a payee, namely publishers. IFSC codes, SWIFT bank codes, ACH routing numbers, and screening fraud attempts are vital elements for businesses to consider.
Without an intelligent payee portal, the integrity of processing outgoing payments is an uphill battle.
Open the lines of communication
Supporting manual publisher payables is time-consuming and chaotic. Workflow complexities take away valuable time for the finance team and impact the entire company. Still, many businesses have fallen victim to making payment processing an afterthought.
But winging it doesn’t create secure and long-term relationships. That’s why advertisers are pivoting toward automation for improved workflow processes to rise above the destructive ashes of manual payments.
Communication invites loyalty, so advertisers must ensure payees have access to their payment status and history to strengthen it. They should also proactively notify the recipient when they effectively deliver a payment. When challenges surface, don’t hide – instead, responsible advertisers inform the creator of issues and ensure they’re getting paid.
Completing payments quickly and efficiently while keeping the lines of communication open and transparent is essential.
Introduce flexible payments
Advertisers have a critical role in providing various payment options to their publishers. Beyond single electronic payments, companies need to employ methods like PayPal and ACH bank transfers and paying in the correct local currencies per international payees.
Advertisers also increasingly expect channels and networks to accept net-60 terms. They want to be paid in shorter increments – and networks are honoring these expectations. Due to these needs, networks juggle having enough cash to manage cash flow and establish short-lead payment terms.
Flexible early payment programs lead to something better for creative partners. The successful implementation of early payment programs in an entire publisher base gives a voice to partners and ensures retention. Not to mention, these systems’ revenues help offset other back-office investments.
Content is king, and automation is essential
Networks give partners a holistic payment experience by automating the payables experience, enabling advertisers and publishers to collaborate efficiently.
For ad tech and media companies, automation ensures customer loyalty and reliable, on-time payments. As for publishers, when the payables are taken care of, they can put their creative focus on what matters most: content.
