Digital media buying 101
MANILA, Philippines – Digital Media Buying or the purchase of digital media advertising real estate at an optimal placement and price can be D.I.Y. (do-it-yourself) for small- to medium-scale enterprise scrimping on hiring a digital ad agency or digital marketing consultant.
It can be real tricky, a trial-and-error endeavor, but the good thing is the industry thrives on real-time measurement of KPIs (key performance indexes) and it’s actually acceptable to push the reset button anytime during the digital media campaign.
So where do you start?
If cost is really a primary concern like with most businesses, then you start with budget as what Breanne Storey of Affliate Wire suggests: “Media buying is expensive, but don’t let this be a deterrent. There are ways for small and medium sized affiliates to start off without spending thousands of dollars. The important thing is to set a reasonable budget and stick to it.”
Once this is set, Laura Lake About.com’s resident marketing expert recommends businesses to know their target market.
“Once you’ve identified your target market, it’s time to do some market research. In this step, you want to identify where you will find your target market, as well as other demographics that can assist you in selecting the right media buy.”
Lake says it’s important to understand the consumer behavior of those that you are targeting. This will help in placing a media buy that is effective and performs by achieving your identified objectives.
Once you have identified your target market and objectives, you are now ready to choose your media channels that suit your market and objectives. If you are hiring a consultant or an agency, ask for statistics to backup any of their claims.
If you are doing this on your own, look for testimonials or names of other advertisers as what Larry Chase of Web Digest for Webmarketers suggests.
“See who else is spending money repeatedly, not just once or twice. Many publishers post testimonials on their websites.”
James Windrow, Interactive Marketing Strategist of Size 23, recommends these free tools for DIYers: Google Ad Planner, Quantcast, Compete.com, Open Directory Project, Alexa, Technorati, among others.
For digital marketplaces that directly connect advertisers with content publishers, Windrow names Ad Brite, Double Click, Right Media Exchange, Datran Media Exchange, ADSDAQ Ad Exchange, and so on.
Whatever channels or strategies you use, Windrow stresses the importance to measure your campaigns.
“Test your creative. Track your results. Reporting is a tool, not an outcome. Rethink your creative and placements regularly. Adapt by shifting your money away from ineffective media buys to more effective opportunities.”
Is your business struggling with Digital Media Buying? Visit www.imadigitalmarketer.com or call 927-0096 / 0928 506 5382.
