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February 2, 2017 | Affiliate Marketing, Digital Marketing | 0 COMMENTS | Green Candy Media
We’ve come a long way from print and tv ads. What used to be a simple page buyout process has now become a complex, elevated, and digital marketing task to conquer. Are you up to date on the nuances of media buying? You can purchase video views, static banner ads, and more, while employing an agency to plan, negotiate, and place your buys for you. Check out our tips to get maximum value out of every marketing dollar.
Whether you use an agency or not, you can negotiate better deals for media buys. With an agency, they’re often concerned with spending the entire budget, then finding you deals. Ensure this isn’t the case – the easiest way to do so is partner with an agency that doesn’t operate on straight commission. If you’re not dealing with an agency, negotiate better deals by checking if the rate card under review is net or gross. Those with gross rates should incur a 15% discount for buying direct – don’t be fooled into letting them pocket the amount reserved for agencies on commission. Also, ask if discounted rates are offered if a particular budget is met. A higher budget means more bargaining power. When rates aren’t up for negotiation, you can still squeeze out value by talking your way into a first-time buyer package with freebies (read: free impressions, premium ad space. You always have more power than you think.
Bottom line, you want these ads to perform for you. When you pay for CPM, you can fall into the trap of having your impressions met but with poor results. Instead, seek CPC (cost per click) or CPA (cost per acquisition) for the best bang for your buck – you only pay when they do well. Note these rates are often left off of rate cards but can be offered. Don’t be shy now.
Regardless of the deal, pick your platforms with care. If your targeted demographic is high-earning millennials, you might not want to share ad space with a platform that traditionally caters to blue collar baby boomers. Typically, you’ll fare better alongside like-minded, like-branded ads.
This may vary per brand, but an integrated approach can help you get better results. Think of it as a story arch being carried from one point to the next. Let your traditional media buys entice audiences online.
CPM (cost per thousand impressions) is the basis we recommend buying ads on, but it’s not the most effective for judging the effectiveness of an ad campaign. Don’t be one of the many companies that can’t really decipher if media buys are contributing to success. Focus on industry-specific KPIs and specific goals to your brand to measure ROI, which typically turns you to CPA (cost per acquisition), tracking how much money must be spent on a platform to achieve results. Decide which KPIs are important to your brand ahead of time to ensure end to end follow through.
There’s a whole lot of opportunity out there for your ads to be seen and clicked. Make sure you’re planning, targeting, and optimizing just like your marketing strategy as a whole, and utilize the digital world to work for you.