This past year we witnessed a major shift to eCommerce. Sales are at an all-time high as everyone is spending more time online. People are either on a video conference or social media. They are checking their email and doing their shopping online more often. The digital world has become an essential part of their everyday lives.
Potential buyers are flocking the Internet every day. It is the best time for businesses to put their brand out there using media channels online. The ad spend for billboards and TV are better off spent online. It can get better conversion rates via ad impressions.
A savvy marketer would put more digital ad spend into the marketing budget this year. Seeing the marketing trend, advertisers are keen on buying digital media. Everyone wants to buy the right ad space for their brands.
If you are planning to join successful brands online, it is time to consider buying digital media. Here’s how to know when you are ready to leverage the power of buying digital media for your business.
What digital media buying means to your business
First, what is digital media buying? Digital media buying is the buying process of ad placements for advertisements. Ad space can be on a website, an app, and other digital media channels.
This is a paid marketing effort. The goal is to identify and buy ad spaces only on media channels that are relevant to the target audience. It is important to identify where the buyers are. What digital platforms are they active on.
A successful digital media buying effort targets the right audiences. It reaches them at the perfect place and time. It should yield an optimum conversion rate and with the least amount of money spent.
This is an essential part of your marketing efforts. It allows your brand to reach your audiences at the best time and place. It is effective when strategized correctly. And it helps you navigate tight competition. How? By making your brand visible alongside leading competitor brands in the market.
Major advantages of digital media buying
There are other methods out there. But here are the major advantages of digital media buying that you should consider. It’s a good way to see if digital media buying is for you.
Pricing. The price is based on market competition. Targeting high competition keywords with traditional ads (like Google AdWords) can be expensive. But here’s the good news. You can buy ads directly on sites already ranking for high competition keywords. That is much cheaper than advertising on most of the other platforms.
That is great news for businesses, here’s an example of why. Instead of competing for the keyword “mountain biking”, you can do this by advertising on large websites about mountain biking instead. These websites are already targeting the mountain biking audiences for you via SEO and social media.
You can do intensive keyword research, identify low competition keywords, and slowly grow your content (inbound marketing). Or you can cut to the front of the line and start looking for websites and networks that are already engaging with your target audience. Digital media buying can make targeting in highly competitive niches less expensive. It can be less expensive than keyword targeting, especially if you want brand exposure as well.
Better opportunities to target an audience. It is easier to target audiences with digital advertising. It uses the data you have about them on Facebook and social media. You can make sure you are targeting the right audience all the time.
A good media buyer should be able to create an advertising campaign effectively. Identify who the target audience are, where they are. Collect all insights and data to create an effective campaign. Good planning and execution could mean viral brand awareness for the brand.
Options for social media marketing and other platforms. You get to have many options. For smaller budgets, you can start with social media ads such as Facebook, Instagram, Pinterest, Twitter, and LinkedIn Ads. Beyond that, you can start to work with specific social media influencers. For large scale campaigns, you can take advantage of buying ad placement on large websites and networks of sites.
Should you be doing the media buying and media planning yourself?
You may have the time in your hands to do your own digital marketing and advertising. It is possible to set up a successful ad on a media space if you know what you are doing. Digital media buying can be augmented and adjusted and you can see results in real time.
Media planning and buying strategies for the media buying process should be clear. They are not to be taken lightly.
Media buying guide: 5 step overview for beginners
Who are your buyers? Identify your target audience and buyer’s persona. You should know them well and so the next step is crucial.
Do intensive research on your target audience and their consumer behavior. Gather significant data insights for data visualization.
What is your strategy? Define your media buying strategy to achieve your campaign goals. Creating a media buying strategy is important. You should know where you will buy it. Which media outlets are you interested in?
Successful execution of media buying strategy is based on your abilities. You should be able to meet your objectives and deadlines. You should have the ability to track and evaluate results. And more importantly manage your advertising budget.
When is it time to work with a digital media buying agency?
If you are not getting the results you want, or you want things done for you, it is time to call in the experts. The big advantage of contacting a media buying solutions provider is how easy the process is. It can go from a massive pile of work to the fun of watching your brand get exposure from new sources.
Getting the job right in the shortest time possible will save you a lot of headaches, not to mention money. If you want to scale your business and are ready for it, your best option is to work with a media buyer.
How Expert Media Buyers do it better?
Expert media buyers live in the online ad world and know it very well. Digital media buyers are well adapted to technology and running digital ads. The ad platforms they know are particularly effective for the digital marketing space.
Expert media buyers know where ads perform well. They know what specific ads are optimized for particular ad space. There are plenty of platforms out there and you have the option to choose one or some. Ads perform differently on different platforms. Experts have better experiences watching media platforms and trends.
A good marketing company can help you understand your business better. They can target your audiences, plan strategies, and execute them for you. Their decisions are backed up by skills and experience. They can make something that works, go from good to great.
You can reach the peak performance of your ads when working with the experts. Marketing companies work with data and real time results. They can track performance. Tracking digital marketing results can be very tricky without monitoring the right numbers. Performance tracking lets you know what is working well and why.
A good digital media buyer watches trends like a hawk. Media buying agencies know how to keep up with what is trending. They know that it’s the only way to keep high ad impressions and keep costs low.
How much does digital media buying cost?
Social media ads can be started for as little as a few dollars per day. Influences vary wildly from under $100 per post to millions. Large display ad campaigns across popular websites generally begin at $25,000 a month or more.
Consider the value every dollar of advertising can return in revenue generated. There should be a realistic and clear advertising budget. Determine how much a company should invest across all its promotional activities.
If you want to use the power of digital media buying for your business, consider your growth goals. There is not a single set of methods that is fit for everyone.
Are you aiming for a big leap? Are you ready to scale? You should start planning your digital media buying efforts.
There is no better time but the present. This is the year to consider these alternatives, and we’re here to help guide you along the path to online success.