What are the benefits of using a yield management tool combined with human insights to price your TV advertising?

✔️ Optimized Pricing Strategies: Yield management tools utilize algorithms and data analytics to optimize pricing based on various factors such as historical data, audience demographics, time slots, and market demand. Human insights can complement these tools by providing context, understanding market trends, and identifying unique opportunities or challenges that algorithms might overlook.

✔️ Maximized Revenue: By leveraging both automated tools and human expertise, TV advertising sellers can maximize revenue by setting prices that reflect the true value of ad slots. Yield management tools can help identify opportunities to increase prices during high-demand periods, while human insights can ensure that pricing decisions align with broader strategic objectives and market dynamics.

✔️ Improved Inventory Management: Yield management tools enable better inventory management by dynamically adjusting prices based on factors like audience viewership, seasonality, and competitor actions. Human insights can enhance this process by providing qualitative analysis, understanding advertiser preferences, and predicting future market shifts, allowing for more accurate forecasting and allocation of ad inventory.

✔️ Enhanced Customer Relationships: Human insights play a crucial role in understanding the needs and preferences of advertisers. By combining data-driven pricing strategies with human insights, TV advertising sellers can build stronger relationships with advertisers by offering tailored pricing packages and flexible negotiation options that align with their specific goals and budget constraints.

✔️ Adaptability and Flexibility: In a rapidly changing advertising landscape, combining yield management tools with human insights enables adaptability and flexibility in pricing strategies. Human expertise can help identify emerging trends, new market opportunities, and potential risks, allowing for real-time adjustments to pricing strategies to capitalize on changing market conditions.

✔️ Reduced Risk of Revenue Loss: By leveraging both automated tools and human insights, TV advertising sellers can reduce the risk of revenue loss by implementing more accurate pricing strategies that account for dynamic market conditions, audience behavior, and competitor actions. This integrated approach helps mitigate the potential impact of factors such as ad inventory oversupply, changes in audience viewership, or shifts in advertiser demand.

In essence, combining a sophisticated yield management tool backed by human insight offers a holistic approach to pricing TV advertising, leveraging the strengths of both automation and human expertise to optimize revenue, improve inventory management, enhance customer relationships, and adapt to evolving market dynamics.

ShareBuilders media pricing tool is unparalleled in its fusion of data science and machine learning with essential human expertise. It was crafted and refined by individuals with firsthand experience in media sales, much like yourself. You don’t use a drill to hammer a nail, so why use a pricing philosophy not designed for media? If you know, you know. If you don’t, call us today to schedule a demo.