It is no secret that iAd, Apple’s mobile advertising network based on its Quatro Wireless acquisition, is struggling. Originally conceived to help app makers improve their bottom line by injecting highly engaging interactive iAds into their warez, the platform has been marred with high ad rates, big brand exodus, executive reshuffling and Apple’s relative inexperience in running a mobile ad network.
But Apple isn’t standing still. Today, the company launched a new iAd Workbench tool that helps its registered developers better target their users, manually, automatically or both. This allows for a much finely-graded targeting criteria, down to the specific device, gender, age, location and preferences…
Apple thought of small developers as the minimum ad spend now starts at a paltry $50.
The system includes ready-made ad templates that can be easily customized and your choice of either cost-per-acquisition (CPA) or cost-per-click (CPC) advertising.
Detailed analytics – previously only available to major brands – is now available to any registered developer participating in the program.
According to Apple’s iAd Workbench web page:
Reach millions of iOS users with iAd Workbench, the simplest way to create, manage and optimize ad campaigns to promote your apps. Get started in just a few simple steps. Select the right audience for your app and set the best price for your business goals.
Build customized banners in minutes. Track your campaign performance and drive downloads at the cost that works for you. From start to finish iAd Workbench puts you in control.
Here’s a nice promo clip.
Apple leveraged iAd to inject both occasional in-app and  traditional audio ads into iTunes Radio streams, its ad-supported Pandora competitor built into iOS 7.
BusinessInsider recently learned that Apple could be on the verge of launching its own ad exchange network understood to allow advertisers to target users as they enter the Apple ecosystem on their iPads, MacBooks, various web sites and apps.