Investing in diverse advertisement opportunities is one of the most common and effective strategies used by business organizations to attract potential customers. The key to getting the best returns on such investment is to ensure the proper placement of ads in the most strategic locations. This requires the marketing professionals to have a well-defined media buying strategy to maximize the reach of ad campaigns. While there are no strict rules for media buying, almost every leading digital marketing agency in Gurgaon stresses the importance of comprehensive research for getting optimal results in terms of greater positive responses and enhanced conversion rates.
A Brief Overview Of The Media Buying Process
Gaining a proper understanding of the basic aspects of the media buying process is the first and the most important step in the direction of ensuring its success. In this context, targeting the appropriate audience and choosing the most relevant and impactful ad networks is of utmost importance. Moreover, negotiating the price and tracking and optimizing the ad campaign are other important aspects that form an integral part of the process. To make things simpler, the media buying process can be divided into four main phases as listed below.
- Preparation Stage
- Campaign Creation Stage
- Optimization Stage
- Scaling Stage
Tips For Scaling The Media Buy Campaigns
The first three stages of the media buying process focus on the activities that are essential for buying ad placement spots, the creation and placement of ads, and their promotion and marketing. The final phase deals with increasing the volume of the ad campaign to further enhance the ROI based on the data and information gathered in the first three stages. While there are no set limits to the extent to which brands can expand and scale their ad campaigns, the experts from a leading digital media buying agency suggest the below-discussed tips to get the best outcomes.
Consider Increasing The Bids
One of the most effective ways to scale up the media buying campaigns is by opting to gradually increase the bids. By the time this stage of the media buying process is reached, most companies are already aware of how to pick up the highest paying offer. Increasing the bids at this point by about 10% can help marketing professionals understand the impact of such an action on the performance rate of the campaigns. It is normal to see a slight decline in performance, which may be caused by the decline of interest of non-serious customers.
Expanding Into New Geographic Locations
The boom in digital marketing has enabled businesses to reach out to clients across diverse geographical regions in a relatively simple and effortless manner. Expanding into new geographical regions can prove beneficial in terms of scaling up the media buying campaigns. A new location offers much potential in terms of an unexplored market and virgin audiences. Hence, investing in media buy campaigns in such locations can result in a significant increase in conversion rates leading to better ROI and enhanced business growth.
Adding Another Media Channel
When it comes to media buying, most online marketers tend to focus their efforts and strategies only on the media channels that are most relevant to their client business niche. However, upon reaching the scaling-up phase of media buying campaigns, the marketers can consider the option of adding another media channel that they might have avoided using earlier. The marketing professionals might also need to tweak their media buying strategy somewhat to gain the desired level of success across these new media channels.
Conduct A Thorough Competitive Analysis
Many times, media buying professionals overlook the importance of conducting a thorough competitive analysis once the campaign creation and optimization stage has been crossed. They thus miss out on various scaling opportunities simply due to their failure to keep track of what the competitors are doing to achieve this objective. Competitive analysis can provide valuable insights and new ideas to maximize ad campaign reach and ensure a better ROI on media buying investments.
Seek Partnerships With Other Service Providers
Seeking out other service providers that offer similar ad formats with better benefits is another effective way to scale-up media buying. There is a limit to the amount of traffic that can be expected through a single service provider. As such brands should consider increasing the number of service providers operating across diverse niches to enhance conversion and increase traffic volume.