The AdTech and Retail Tech industries are enjoying another 15 minutes. A current wave of IPOs and Big Tech acquisitions continue to make headlines about billion dollar valuations and big pay days for founders. But as a rarified group of companies in this industry grabs the brass ring in public offerings or acquisitions, there remain a range of platforms, marketplaces, native solutions, programmatic players, customer data platforms, email marketers, CRMs, social analytics and digital agencies. They all dutifully shoulder on, day in and day out, to serve ads, target consumers, measure and automate; all to help reach Key Performance Indicators (KPIs) and drive revenue.
But they have a higher mission.
Unless you’re living completely off the grid, these technology companies powering digital advertising or driving retail sales reach each of us, multiple times a day. Their algorithms determine what messages we see, what brands show up in our feeds, what ads we see in FAST (free ad supported TV) streaming services. Sometimes those messages are useful as we’re on a search, for example, to find the perfect gift for a loved one. Sometimes they’re annoying and inspire us to switch on ad blockers.
And depending on your occupation, you might also be bombarded with drip campaigns from these companies on LinkedIn or email. They offer “30X growth!” or “50% more leads!” Reporters who cover these industries often report being on the receiving end of hundreds of unsolicited pitches from these companies every single day. So for a certain type of professional, AdTech and Retail Tech carry a stigma of drip campaign-happy ‘vendors’ who are to be avoided.
But we should remember that many of these businesses have a higher purpose: they keep media businesses in business. They enable publishers to publish. They create jobs and provide paychecks. They target us with a few ads we actually might find useful. And most important, they enable journalists to do the kind of reporting that is essential to a free and democratic media.
After a year like the one we’re about to close the books on, and months of uncertainty ahead, that’s a mission that’s truly worth our attention; something worth remembering next time a ‘vendor’ hits you up or an ad shows up during that free TV content you’re enjoying.
- Jeanne Meyer, Chief Client Officer