The only way advertisements generate revenue is if people see them. And not only that, the right people have to see them, at the right time. That’s where media buying comes in. This list of tips provides an inside scoop from the pros.
5 MEDIA BUYING BEST PRACTICES
1. IDENTIFY A TARGET MARKET
Like all other types of marketing and advertising, media buying is unproductive without a well-defined target audience. Whether your advertisement is meant to build awareness surrounding your brand or to sell a product or service, you want to reach the audience that is most likely to be interested.
A good media buyer will create clear personas of their ideal audience members using demographic information like age, job role, geographic location and more. Then, they will be better informed to choose the right time and place for their advertisement.
2. GET THE BUDGET IN ORDER
Make sure there’s no confusion as to how much money is to be allocated for buying an ad space. Get a concrete number established, not a roundabout estimate.
Next, spend the budget wisely. You’ll probably be comparing several media outlets to display your ad, but remember the one that charges the least isn’t necessarily the best. Thoroughly analyze which ones grant you the best exposure at a rate within your budget before your decision is locked in.
3. FIGURE OUT THE BEST SPOT FOR YOUR ADS
Digital ads perform best when they’re located above the fold, or the section of a webpage that’s visible without scrolling down. As for billboards and other forms of print advertising, locations that
Of course, ads placed in highly visible locations cost more than ads placed where they’re unlikely to be seen, but it is a worthwhile investment for improving conversion rates.
4. EXECUTING THE COSMETIC PHASE
An ad that fails to grab the attention of those who see it is a poor ad. Good advertisers are able to craft aesthetically-pleasing ads that contain clever enough copy to demonstrate value at a quick glance.
Both print ads and digital ads must be eye-catching, but those that appear on the Internet must also be mobile-friendly, or they’ll be extremely ineffective. Native advertising is also rapidly gaining popularity as a means of digital business promotion.
5. TRACK BOTH SUCCESSES AND FAILURES
Your first media buying experiences may not yield the numbers you hope for. By tracking and analyzing past endeavors, you can understand what worked and what didn’t. In the future, you can tweak whatever you need: the advertising medium, the ad’s aesthetics, its copy, etc.
You’ve also got to calculate return on investment. Otherwise, you will have no idea whether your advertisement is actually having a positive effect, or if you’re just wasting money.
By enacting these media buying practices in your business, you can begin driving traffic and revenue with attractive, well-planned advertisements.
Source: Fat Guy Media
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