If you're a media publisher or an agency, you know how complex and challenging the advertising billing process can be. You have to deal with multiple ad networks, platforms, formats, currencies, and payment methods. You have to reconcile and invoice your ad revenue accurately and timely. You have to provide your customers with a seamless and satisfying billing experience.
But what if I told you that there is a way to simplify and streamline your advertising billing process, while also boosting your revenue and saving your time? Sounds too good to be true, right?
Well, it's not. It's called advertising converged billing, and it's the future of media monetization.
Advertising converged billing is a billing system that consolidates and automates all your advertising revenue streams into one platform. It allows you to manage, reconcile, invoice, and report your ad revenue from different sources and channels in a unified and efficient way. It also enables you to offer your customers a self-service portal where they can access and manage their billing information and preferences.
Advertising converged billing can help you achieve the following benefits for your business:
- Reduce operational costs and complexity by eliminating manual and error-prone tasks and processes.
- Improve revenue recognition and cash flow by accelerating and optimizing your billing cycle and collection.
- Enhance customer experience and retention by providing them with transparency, convenience, and flexibility in their billing journey.
- Increase scalability and flexibility by adapting to changing market conditions and customer demands.
- Comply with industry standards and regulations by ensuring accuracy, security, and compliance in your billing data and transactions.
Sounds amazing, right? But how do you choose the best advertising converged billing platform for your business? With so many options and features available in the market, how do you find the one that suits your needs and objectives?
Don't worry, I've got you covered. In this article, I'll show you how to pick the perfect advertising converged billing platform for your business in 5 easy steps. By following these steps, you'll be able to make an informed and confident decision that will transform your advertising billing process and your business performance.Ready to get started?
Let's dive in!
The first step to choosing the best advertising converged billing platform for your business is to define your business needs and objectives. This will help you narrow down your options and focus on the platforms that can meet your expectations and requirements.
To define your business needs and objectives, you need to ask yourself the following questions:
- What are the main pain points or challenges that you face with your current billing system?
- What are the key features or functionalities that you require from an advertising converged billing platform?
- What are the expected outcomes or benefits that you want to achieve with advertising converged billing?
- How do you measure the success or performance of your advertising converged billing process?
For example, let's say that you're a media publisher that sells ads across multiple platforms, such as Google, Facebook, and Spotify. Some of your pain points or challenges with your current billing system are:
- You have to manually reconcile and invoice your ad revenue from different sources and formats, which is time-consuming and prone to errors.
- You have to deal with multiple currencies and payment methods, which adds to the complexity and cost of your billing process.
- You have to provide your customers with separate invoices and reports for each platform, which reduces their visibility and satisfaction.
Some of the key features or functionalities that you require from an advertising converged billing platform are:
- It can automatically and accurately reconcile and invoice your ad revenue from different sources and formats in one platform.
- It can handle multiple currencies and payment methods with ease and efficiency.
- It can provide your customers with a single invoice and report for all their ad purchases across platforms.
- It can offer your customers a self-service portal where they can access and manage their billing information and preferences.
Some of the expected outcomes or benefits that you want to achieve with advertising converged billing are:
- You can reduce your operational costs and complexity by eliminating manual and error-prone tasks and processes.
- You can improve your revenue recognition and cash flow by accelerating and optimizing your billing cycle and collection.
- You can enhance your customer experience and retention by providing them with transparency, convenience, and flexibility in their billing journey.
- You can increase your scalability and flexibility by adapting to changing market conditions and customer demands.
Some of the ways that you measure the success or performance of your advertising converged billing process are:
- You can track and analyze your billing metrics, such as billing accuracy, billing cycle time, collection rate, customer churn rate, and customer satisfaction score.
- You can compare and benchmark your billing performance against your competitors and industry standards.
- You can solicit and incorporate feedback from your customers and stakeholders on your billing process and platform.
By answering these questions, you can define your business needs and objectives for advertising converged billing and use them as a guide for your platform selection.
The second step to choosing the best advertising converged billing platform for your business is to research and compare different advertising converged billing platforms that are available in the market. This will help you discover and evaluate the features and benefits of each platform and how they match your needs and objectives.
To research and compare different advertising converged billing platforms, you can use the following sources or methods:
- Online reviews and ratings: You can read online reviews and ratings from other media publishers and agencies that have used or are using different advertising converged billing platforms. You can learn from their experiences, insights, and opinions on the pros and cons of each platform. You can also check the ratings and rankings of each platform based on various criteria, such as features, functionality, usability, pricing, and customer service.
- Customer testimonials and case studies: You can read customer testimonials and case studies from other media publishers and agencies that have achieved success and results with different advertising converged billing platforms. You can learn from their stories, challenges, and solutions on how they implemented and optimized their advertising converged billing process and platform. You can also see the quantifiable and qualitative outcomes and benefits that they gained from advertising converged billing.
- Product demos and trials: You can request and watch product demos and trials from different advertising converged billing platform providers. You can see the platform in action and how it works in real-life scenarios. You can also test and try the platform yourself and see how it fits your needs and objectives. You can also ask questions and get answers from the platform providers on any aspect of the platform that you're interested in or curious about.
- Industry reports and rankings: You can read industry reports and rankings from reputable and authoritative sources, such as research firms, media outlets, and associations. You can learn about the latest trends, developments, and innovations in the advertising converged billing industry. You can also see the market share, growth, and performance of different advertising converged billing platforms and how they compare and contrast with each other.
- Pricing and payment options: You can compare the pricing and payment options of different advertising converged billing platforms and see how they fit your budget and resources. You can consider the following aspects, such as:
- The initial and ongoing costs of the platform, such as setup, installation, maintenance, and upgrade fees.
- The pricing model of the platform, such as subscription, pay-per-use, or commission-based.
- The payment methods and terms of the platform, such as credit card, bank transfer, or invoice.
- The discounts or incentives of the platform, such as free trial, money-back guarantee, or referral bonus.
- Integration and compatibility: You can compare the integration and compatibility of different advertising converged billing platforms and see how they fit your existing systems and processes. You can consider the following aspects, such as:
- The ease and speed of the integration process of the platform, such as plug-and-play, API, or custom integration.
- The compatibility and interoperability of the platform with your other systems and tools, such as CRM, ERP, accounting, or analytics software.
- The flexibility and customization of the platform to your specific needs and preferences, such as branding, layout, or workflow.
- The scalability and adaptability of the platform to your changing needs and demands, such as adding or removing features, functionalities, or users.
- Security and reliability: You can compare the security and reliability of different advertising converged billing platforms and see how they fit your standards and expectations. You can consider the following aspects, such as:
- The security and privacy of the platform and its data, such as encryption, authentication, authorization, or backup.
- The compliance and regulation of the platform and its data, such as GDPR, CCPA, or IAB TCF.
- The reliability and availability of the platform and its service, such as uptime, downtime, or SLA.
- The support and service of the platform and its provider, such as helpdesk, chat, or phone.
- Innovation and customization: You can compare the innovation and customization of different advertising converged billing platforms and see how they fit your vision and goals. You can consider the following aspects, such as:
- The innovation and creativity of the platform and its features, such as AI, ML, or blockchain.
- The customization and personalization of the platform and its functionalities, such as reports, dashboards, or alerts.
- The feedback and improvement of the platform and its provider, such as surveys, reviews, or updates.
- The collaboration and partnership of the platform and its provider, such as community, network, or events.
By using these sources, methods, factors, and features, you can research and compare different advertising converged billing platforms and see how they differ and align with your business needs and objectives.
The third step to choosing the best advertising converged billing platform for your business is to narrow down your options and request a proposal from the advertising converged billing platforms that meet your needs and objectives. This will help you get a more detailed and customized offer from each platform and how they can serve your business.
To narrow down your options and request a proposal, you need to do the following:
- Eliminate the platforms that are out of your budget or do not offer the features or functionalities that you require. You can use the pricing and payment options and the integration and compatibility factors that you compared in the previous step to filter out the platforms that are not suitable for your business.
- Rank the platforms that are within your budget and offer the features or functionalities that you require based on your preferences and priorities. You can use the security and reliability and the innovation and customization factors that you compared in the previous step to rank the platforms that are relevant for your business.
- Select the top two or three platforms that best match your criteria and expectations. You can use the online reviews and ratings, the customer testimonials and case studies, and the product demos and trials that you researched in the previous step to select the platforms that have the most positive and convincing feedback and results.
- Include some information or questions in your proposal request that will help you get a more specific and tailored offer from each platform. You can include the following information or questions in your proposal request:
- A brief introduction of your business and your advertising converged billing needs and objectives. You can use the answers that you gave in the first step to define your business needs and objectives to introduce yourself and your business to the platform providers.
- A detailed description of the features or functionalities that you are looking for in an advertising converged billing platform. You can use the key features or functionalities that you listed in the first step to define your business needs and objectives to describe what you expect and require from the platform providers.
- A specific request for a customized quote or estimate based on your business size and scope. You can use the budget and resources that you allocated for advertising converged billing to request a quote or estimate that is affordable and feasible for your business.
- A clear deadline and contact information for the proposal submission and follow-up. You can use the timeline and goals that you set for advertising converged billing to request a deadline and contact information that is reasonable and convenient for you and the platform providers.
By doing these steps, you can narrow down your options and request a proposal from the advertising converged billing platforms that can meet your business needs and objectives.
The fourth step to choosing the best advertising converged billing platform for your business is to evaluate and negotiate the proposals that you receive from the advertising converged billing platforms that you selected. This will help you assess and compare the value and benefits of each platform and how they can serve your business.
To evaluate and negotiate the proposals, you need to do the following:
- Evaluate the proposals based on the criteria or aspects that are important and relevant for your business. You can use the following criteria or aspects to evaluate the proposals:
- The accuracy and completeness of the information and data provided. You can check if the proposals have all the information and data that you requested and if they are correct and consistent with your business needs and objectives.
- The alignment and compatibility of the platform with your business needs and objectives. You can check if the proposals show how the platform can meet your expectations and requirements and if they are compatible and interoperable with your existing systems and processes.
- The value and benefits of the platform for your business performance and growth. You can check if the proposals demonstrate the outcomes and benefits that you can achieve with the platform and if they are quantifiable and qualitative for your business performance and growth.
- The feasibility and affordability of the platform for your business budget and resources. You can check if the proposals offer a pricing and payment option that is within your budget and resources and if they are feasible and affordable for your business.
- Negotiate the proposals based on the strategies or techniques that are effective and fair for you and the platform providers. You can use the following strategies or techniques to negotiate the proposals:
- Highlight your strengths and advantages as a potential customer. You can emphasize the value and benefits that you can bring to the platform providers, such as your business size, scope, reputation, or network.
- Compare and contrast the proposals from different platforms and leverage their differences and similarities. You can use the research and comparison that you did in the second step to compare and contrast the proposals from different platforms and use their strengths and weaknesses to your advantage.
- Ask for clarifications and explanations for any unclear or ambiguous terms or conditions. You can ask for more information or details on any aspect of the proposal that you are not sure or satisfied with, such as the features, functionalities, pricing, or payment options.
- Request for discounts or incentives for signing a long-term contract or making a bulk purchase. You can ask for lower prices or better deals if you commit to a longer-term contract or a larger purchase with the platform providers.
By doing these steps, you can evaluate and negotiate the proposals from the advertising converged billing platforms that can meet your business needs and objectives.
The fifth and final step to choosing the best advertising converged billing platform for your business is to make the final decision and sign the contract with the advertising converged billing platform that you choose. This will help you finalize and seal the deal with the platform and its provider and start your advertising converged billing journey.
To make the final decision and sign the contract, you need to do the following:
- Make the final decision based on the factors or considerations that are crucial and decisive for your business. You can use the following factors or considerations to make the final decision:
- The overall quality and suitability of the platform for your business needs and objectives. You can use the evaluation and negotiation that you did in the previous step to assess the quality and suitability of the platform for your business needs and objectives.
- The feedback and opinions of your stakeholders and decision-makers. You can consult and involve your stakeholders and decision-makers, such as your team, managers, or customers, in the final decision and get their feedback and opinions on the platform and its provider.
- The risks and opportunities of the platform for your business future and vision. You can weigh the pros and cons of the platform and its provider for your business future and vision and see how they align or conflict with your goals and strategies.
- The trust and confidence that you have in the platform and its provider. You can gauge the trust and confidence that you have in the platform and its provider and see how they match or exceed your standards and expectations.
- Sign the contract and finalize the deal based on the steps or actions that are necessary and required for you and the platform provider. You can use the following steps or actions to sign the contract and finalize the deal:
- Review and verify the contract and its terms and conditions carefully and thoroughly. You can read and check the contract and its terms and conditions and make sure that they are accurate, complete, and consistent with your business needs and objectives and the proposal that you agreed on.
- Seek legal or professional advice if needed or desired. You can seek legal or professional advice from a lawyer, accountant, or consultant if you need or want to get a second opinion or confirmation on the contract and its terms and conditions.
- Sign the contract and make the payment or deposit as agreed. You can sign the contract and make the payment or deposit as agreed with the platform provider and get a copy or confirmation of the contract and the payment or deposit.
- Celebrate and announce your partnership with the platform and its provider. You can celebrate and announce your partnership with the platform and its provider and share the news and excitement with your team, customers, and network.
By doing these steps, you can make the final decision and sign the contract with the advertising converged billing platform that you choose and start your advertising converged billing journey.
Congratulations, you've made it to the end of this article! You've learned how to pick the perfect advertising converged billing platform for your business in 5 easy steps. You've also learned how to define your business needs and objectives, research and compare different advertising converged billing platforms, narrow down your options and request a proposal, evaluate and negotiate the proposals, and make the final decision and sign the contract.
But that's not the end of your advertising converged billing journey. It's just the beginning. Now that you've chosen the best advertising converged billing platform for your business, you need to implement and optimize your advertising converged billing process with the platform that you chose.
Here are some suggestions or recommendations for you to implement and optimize your advertising converged billing process with the platform that you chose:
- Set up and test the platform and its features and functionalities. You can work with the platform provider to set up and test the platform and its features and functionalities and make sure that they work as expected and intended for your business.
- Train and educate your staff and customers on how to use the platform and its benefits. You can provide training and education for your staff and customers on how to use the platform and its benefits and make sure that they are comfortable and confident with the platform and its features and functionalities.
- Monitor and measure the results and impacts of the platform on your business outcomes and objectives. You can monitor and measure the results and impacts of the platform on your business outcomes and objectives and see how they improve and enhance your business performance and growth.
- Communicate and collaborate with the platform provider for feedback and support. You can communicate and collaborate with the platform provider for feedback and support and make sure that they are responsive and helpful to your needs and issues.
By following these suggestions or recommendations, you can implement and optimize your advertising converged billing process with the platform that you chose and enjoy the benefits and results that it can bring to your business.
I hope this article has helped you learn how to pick the perfect advertising converged billing platform for your business in 5 easy steps. If you have any questions or feedback, please let me know. 😊
Thank you for reading and happy advertising converged billing! 🙌
Your Trusted Advertising Billing Experts at Audience Platform!