In this article we are gonna talk about the strategies that you need when doing media buying essentially when you're placing money on digital media so that you can acquire customers.
There are five important things that are very crucial when you're doing media buying especially when you coming up with a media buying plan:
1- Audience Selection
Good audience selection is very very important.Understanding who your audience is, where they're spending their time and the kind of information they are looking for or interested in so that you you create your copy and ensure it has relevant keywords so that when people are searching for that service or product using those keywords, they will able to find you.
2- Goal Selection
What do you want to achieve with your campaign? do you want maybe to encourage people to download a mobile application? do you want people to visit your website? do you want people to buy a product? maybe you have an e-commerce fully functioning ecommerce site where you want people to check out or maybe the goal is just to create awareness.
Goal selelction is important; you need to specify a goal for your campaign so you can measure your success in that perticular campaign.
3- Channel Selection
There are so many social media platforms today, but you have to be careful in your channel selection. Don't just look at what you like, look at where your customers are spending time so that you choose the right channel so that you place your money in the right channel. You want to spend money on a channel where you know your potential customers are likely to be in.
4- Bidding Strategy Selection
Another very important proposition in media buying or when you're doing a media buying campaign is the bidding strategy. I will give you an example:
Uber is now suing an agency that spent a lot of money, up to 70 million US dollars on advertising and essentially the goal for Uber it is either someone downloads the app or someone is encouraged to take a ride or maybe place an order for food or delivery or something like that. The problem is the advertising agency subcontracted some other small agencies who spent Uber money in a very inefficient way, they paid people to see ads and they used robots to create impressions and false clicks.
Digital marketing is very cost effective and very efficient for targeted advertising but the truth is more than 50% of all ads that we see online are not clicked by human beings some of them are clicked by BOTS or fake accounts. For a fact, it is very important to specific you bidding strategy; don't just pay based on impressions or clicks, pay based on real business benefits, real transaction happening.
Optin for a strategy where you pay for business value, not just impressions and traffic
5- Optimization Strategy Selection
The truth is that digital marketing has opened new possibilities for business owners and marketers. You can run an ad in the morning and by mid-day you see if the ad is performing well or not. If not, you can go back to Google or Facebook or any other channel and perhaps change the country, the content, the message or the keywords, you can adjust the age, demographic or even location in terms of distance.
We always have to efficiently target but also optimize the ad looking at what is driving people to click on ads and what's working and what's not.
There are so many tools to track the performance of ads and measuring effectiveness of your strategy. Every channel, every media platform has tools for measurement to help you track and achieve your campaign goal.