While the online ad industry is growing in leaps and bounds, the actual procedure for advertising tends to function in complicated and haphazard manners on most platforms, so that a lot of time and energy is spent on the buying and selling ads, testing ads, booking placements and finding the right audience.
Yahoo! recently announced that they have been working hard on this aspect of advertising and will shortly come out with a new format called AMP! (Advertising Management Platform) They believe that AMP! Will revolutionize the way the ad industry functions, and make it much simpler to advertise while saving a lot of time and effort.
Yahoo! Press Release for AMP!
Google launched a similar ad management system last month – Google Ad Manager. Yahoo!, as always, is lagging behind. Their new system is not even ready, but they have announced its launch to either give the market a reason to believe in their lofty goals or to give another reason for Microsoft to increase their acquisition bid.
In a statement released on 6th April, Sue Decker, president of Yahoo! blogged about how innovations have changed the world, from old-fashioned postal services to email and VCR to DVR. She believes that the ad industry is in dire need of an innovation to smoothen out the way it works, while cutting out the unnecessary “paper work” and clutter.
A team of dedicated engineers, strategists and managers from the online ad industry have been working to improve this system and Decker thinks that they have achieved their target of creating a system that allows advertisers to book inventory, negotiate pricing, seek approval, find the right audience, create test sheets, test ads and do even more in an efficient manner, without unnecessary faxes and phone calls.
AMP! has been designed to automate advertiser processes, allowing tasks to be completed in a few minutes, rather than weeks, by working through one interface, to buy, search, and display local, mobile and video ads. Yahoo! has already used this format with some of their partners from the Newspaper Consortium, with excellent results.
Yahoo! expects to release AMP! by the next quarter with some of their publishers, advertisers, ad networks and agencies, with the process gradually rolling out over the next year. A video demonstration of the AMP! system can be seen at: