Media buying is the process of purchasing advertising space and time across different channels and platforms to reach your target audience. It is a crucial part of any marketing campaign, but it also comes with many challenges. In this article, you will learn about some of the most common ones and how to overcome them.
One of the first challenges you may face with media buying is setting and sticking to a realistic budget. You need to allocate your resources wisely and prioritize the channels and platforms that offer the best return on investment. You also need to monitor your spending and performance regularly and adjust your strategy accordingly. To avoid overspending or underdelivering, you should use tools and techniques such as cost per action, cost per lead, and cost per mille to measure your results and optimize your campaigns.
Mindset: Media Buying is not a one-day, one-week, one-month process. It is important to understand How Media Buying and How marketing work. Either you should not spend time on Media buying. But if you are spending time and effort over here. Then understand the importance of building space in the human mindset. You did good work for one month and got a lot of inquiries, Now you stopped everything because you can't handle it anymore. NO NO NO. Same way If you won't get results today, and you stopped everything. No that is also not a case keep on working on it. It is possible that right now foundations are building and you are just about to get results.
Efficiency does not equal effectiveness. That sounds silly, but many are quick to only look at the CPM, CPE, CPA, etc. First, it's dependent on your goal (if your goal is engagement, CPE is a fair measurement, for example), but a cost per is only a piece of the puzzle. Quality is important. Placement is important. Better quality or placement may come with a higher price tag but lead to more effective efforts. Likely, it will be a balance of purchasing media efficiently for reach and allowing premiums for lower funnel tactics. This allotment should be setup in your media strategy and planning process.
Budget should only be limited by ROAS (Return on Ad Spend) If you're making $3 in revenue for every $1 you put into ad spend, why would you not keep spending the $1? It's important to note that advertising does not immediately work. A lot of times you will need to optimize your campaigns over time to get to a revenue positive place. Start with what you could afford to spend and lose. It's like going to Las Vegas but with way better odds. Ideally you have some organic business that you can siphon a small part away from to cover this, but if not you may need to consider what will fund your ads. If you approach your advertising carefully, and spend into the tactics that work, budgets will scale with your success.
Un ejemplo q he visto es que ante la incertidumbre y las caídas de ventas; una de las primeras acciones son los recortes de los presupuestos publicitarios ; esto, plantea desafíos en donde la selección de los vehículos y la congruencia con la estrategia se hace vital para el cumplimiento de los objetivos. Pero debemos tener cuidado en limitar las acciones y obtener resultados inferiores a los mínimos estándares ; por ello la concentración debe ser el pilar donde una vez se cumplan los objetivos de un medio se puede visualizar otro con ello se garantiza el cumplimento de estándares mínimos en la planeacion y no caer en la trampa de un número de alcance muy alto pero ineficiente
Durch gute Tests kann man signifikante Werte erhalten, um eine sinnvolle Budgetplanung umzusetzen. Das Controlling der Performance anhand der Metrik ROAS ist logischerweise das Wichtigste, jedoch ist das auch abh?ngig von der Unternehmensziele. Zur überwachung einzelner Kampagnen eignet sich das jeweilige Werbekonto, jedoch k?nnen externe Tools bei gro?en Multi-Channel-Kampagnen sinnvoller sein. Bei solchen gro?en Kampagnen lohnt es sich auch Regeln zu definieren, die dabei helfen die Kosten der Ereignisse im Werbekonto zu kontrollieren.
Another challenge with media buying is reaching and engaging your target audience in a fragmented and competitive media landscape. You need to understand your audience's behavior, preferences, and needs and choose the right mix of media channels and platforms to reach them. You also need to create relevant and compelling content and messages that resonate with them and motivate them to take action. To overcome this challenge, you should use data and analytics to segment your audience, tailor your content, and test your campaigns.
The phrase "knowledge is power" holds especially true in customer experience. CDPs provide robust analytical tools that not only track customer behavior but also allow businesses to create custom segments. These segments can be incredibly granular, allowing for hyper-personalized campaigns targeting very specific customer groups. Such advanced analytics and segmentation not only yield higher conversion rates but also foster stronger relationships with customers. CDPs are built to support intricate multi-channel landscape. They consolidate data from every customer interaction, regardless of the channel, into a single unified profile. Look for tools like Lifesight Connect in order to solve audience fragmentation challenges.
Daten-getriebene Nutzeransprache mit AI sind ab jetzt wichtig. AI wird uns nicht ersetzen, aber Advertiser+AI weren den normalen Advertiser ersetzen. Durch die Analyse von Kundenbewertungen, Shop-Interaktionen, Produkft und Verkaufszahlen, sowie das Verhalten der Zielgruppe, kann man auf Daten gestützte Personas und Value Propositions ableiten. Diese VPs helfen am Ende auch die notwendigen Creatives zu produzieren. Somit ist jede Kommunikation mit Daten von Konsumenten auf Relevanz best?tigt.
One of the key things I think is hugely underestimated is how much information you can get from your own google analytics (I know GA4 haters... I hear you) and use in your media audience fragmentation. Thinking of spending locally? Check your heat map. Want to know what messages are resonating? Check your engagement time on blog posts and work out what has gained traction. You don't need to be constantly on the look out for the next big thing - you've probably got a lot of your own audience data in your own back yard... (or at least your looker studio report...)
A third challenge with media buying is ensuring the quality and transparency of your media sources and partners. You need to avoid fraud, bots, and low-quality traffic that can waste your budget and damage your reputation. You also need to verify the accuracy and validity of your media metrics and reports and ensure that you are getting what you paid for. To overcome this challenge, you should use tools and standards such as viewability, brand safety, and third-party verification to audit and evaluate your media sources and partners.
Around 41% of digital media spend is wasted as per Next&Co. Hence, the quality of media you buy is a good indicator of how successful your advertising is. Review the following: 1. Targeting: Get the targeting right, be it audience, keywords, interests, or demographics 2. Content exclusions: Top-level controls that platforms usually provide to help prevent your ads from showing alongside questionable content 3. Placements: Places where your ads might be shown e.g. websites, apps, channels, etc. Exclude the usual suspects to avoid budget wastage 4. Click-fraud software: Avoid spammy clicks by deploying a click-fraud software 5. Third-party verification: Use third-party verification software to ensure your ads are viewable and are seen
Um AdFraud und Quality Assurance im Buying zu bek?mpfen, verwendet Ad Verification-Tools und w?hlt vertrauenswürdige Media-Partner. Führt Traffic-Audits und Third-Party Verifications durch, um Kampagnendaten zu validieren. Setzt Viewability-Standards und Brand Safety-Ma?nahmen ein, um eure Ads zu schützen. Beispiel: Bei einer Online-Ad-Kampagne k?nntet ihr DoubleVerify für Ad Authenticity nutzen und mit sicheren Plattformen zu arbeiten, um Markensicherheit zu gew?hrleisten. So optimiert ihr den ROI und minimieren Risiken wie Ad Fraud.
A fourth challenge with media buying is optimizing and attributing your media performance and impact. You need to track and measure your media outcomes and identify the most effective and efficient channels and platforms for your goals. You also need to attribute your results to the right media sources and partners and calculate your return on ad spend. To overcome this challenge, you should use tools and models such as multi-touch attribution, incremental lift, and media mix modeling to analyze and optimize your media campaigns.
In B2B media-buying, a combination of touch-point based attribution and self reported attribution (SRA) will oftentimes help you nail down your most effective marketing motions and channels. GA4 gives a good top-level picture of traffic sources and SRA helps you dig deeper into what’s driving conversion — especially marketing motions (such as podcasts, content partnership etc) that may fall within the dark social realm which can’t easily be captured using touch-point based attribution.
There are 4 ways to measure the performance of media and its impact: 1. Multi-touch attribution 2. Incremental lift 3. Media mix modeling (MMM) 4. Surveys None of them are perfect, so you should use all of them together rather than relying on any one of them. 1. Multi-touch attribution: This attribution model -- available across platforms like GA4 -- tells you which channel is driving the sales 2. Incremental lift: Lift studies help you determine whether there was an increase in sales when an ad was shown to your audience 3. MMM: Statistical technique that is used to measure the impact of different marketing channels/activities on sales 4. Surveys: Get customer's feedback on where they found you via Surveys
Man sollte keine Media-Kampagne ohne stabiles Tracking-Konzept starten. Durch die Informationen über das Tracking, was man im besten Fall mitentwickelt hat, kann man sein eigenes Reporting-Dashboard bauen und visuell die komplette Journey der Nutzer darstellen lassen. Natürlich ist hierbei eine m?glich sinnvolle Attribution notwendig. Erfahrene Buyer k?nnen anschliessend Gefahren und Trends erkennen und darauf reagieren. Dadurch kann die Performance geschützt oder skaliert werden. Wer m?chte keine Skalierung?
Adopting Marketing Mix Modeling is crucial for ensuring success in the privacy-first world. But why? ?? Marketing Mix Modeling is a measurement system that analyzes marketing effects using aggregated data from various channels and variables, without tracking individual users. This means it provides a stable and reliable tool for marketing analysis that is not affected by changes in data availability or privacy regulations over time. As advertisers, this is exactly what we have been looking for! So, hop on to the Modern Marketing Mix Modeling ride and navigate your acquisition ship confidently.
A fifth challenge with media buying is keeping up with the media innovation and adaptation. You need to stay updated and informed about the latest trends, technologies, and opportunities in the media landscape and how they affect your media strategy. You also need to be flexible and agile to adapt your media plan and execution to the changing consumer behavior, market conditions, and competitive dynamics. To overcome this challenge, you should use tools and platforms such as programmatic, social, and mobile to automate, personalize, and scale your media campaigns.
Jede Media-Kampagne für eine Marke oder ein bestimmtes Produkt muss sich eventuell anpassen. Wird die überschneidungen der Zielgruppe auf eine bestimmte Plattform gr??er, so ist dies bei der Planung zu berücksichtigen. Es ist wichtig, dass Media Buyer und Planner sich mit den Experten, die in der Kundenn?he sind austauschen. Kunden-Daten und oder Shop-Daten geben ebenfalls Auskünfte über das Verhalten der Konsumenten. Steigt die Summe der First Viewer auf Pinterest, dann sollte diese Plattform st?rker einbezogen werden. Die Ver?nderung der digitalen Nutzung sollte früh erkannt und mit Daten belegt werden, weil es ebenfalls Einfluss auf die Creatives-Arten hat (Bsp. mehr 9:16-Videos als Bilder).
Also consider your targeting in conjuction with your geography. If you have a $10,000 budget to target 5 countries and 4 audiences that would equal to 4 x 5 = 20, 10,000/20 = $500 per country. Even worse is $500 a month is $16.67 a day. You'll blow through that budget every day very quickly. Considering doing less. Pick less countries and less audiences when your budget is limit.