Last week, MediaRadar announced a new addition to its suite of tools: RFP Predictor. Using AI, the company hopes to help ad sales teams predict when customers will issue RFPs.
With roughly 1,000 RFPs being issued each quarter in this space, awareness and resource allocation are critical. As MediaRadar’s CEO Todd Krizelman stated, “With RFP Predictor, you can plan your year around when key RFPs are likely to be issued, reach out in advance and be sure you are included in the RFP process.”
This is a niche tool, but the potential for AI-enhanced offerings like this could prove useful on both sides of the sales/procurement process equation. If prices for RFP Predictor and similar AI products are affordable, smaller vendors may be able to take advantage of the technology to accelerate their growth by accessing previously unknown opportunities.
Many customers struggle to find nimble, innovative companies to receive their RFPs. As a result, they often request proposals from the same selection of large vendors. Ultimately, AI may end up playing matchmaker between customers and smaller and niche vendors, increasing the prospects for both sides.