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Media_Buying_StrategiesMost businesses know that establishing a reliable presence and identity online is one of the most crucial things that any business can do to make a mark in their chosen industry. While there are numerous forms of advertising available to help companies achieve this goal, one of the more popular options can be found in the form of media buying.

To become an amazing media buyer, and minimize the complexities involved with online advertising today, you need to master the art of getting maximum value for your money. The following tips can help media buyers when it comes to enhancing brand identity, ultimate ad viewability, and successful user interaction.

1. Identify the Correct Target Market

demographic-targetingThe chances are that you've come across this particular tip in numerous different online advertising advice articles - but that doesn't make it any less important. The truth is that no professional media buyer should even think about getting started with a bid before they've developed a clear understanding of what kind of customer they hope to target. Whether you're simply trying to get a foot into the right social circles, or you have a specific service or product to promote, you need to be sure that you're reaching an audience that's most susceptible to whatever you have to say. Otherwise, no matter how great your advertising strategy is, it's likely to fall on deaf ears.

Identifying your target market should form a significant amount of your online marketing strategy, as it ensures that your budget doesn't simply get wasted on low-quality traffic and uninterested patrons. To get started, begin looking at the types of sites where you might benefit from placing your ads, considering certain demographics such as:

  • Gender
  • Social status
  • Geographical location
  • Educational level
  • Occupation
  • Age

The more you think about your target market, the higher the chance you have of developing a message that appeals directly to them. Your aim should be to continue adjusting your advertisements until you're directly meeting the needs of potential leads and customers.

2. Retarget Responsibly

Various studies into the efficiency of online advertising have begun to show that people prefer to see advertisements that are personally relevant to their needs and interests. Because of this, retargeting methods may be a helpful way to improve the experience that your customers have with your online advertising solutions. However, it's important to keep in mind that this tactic can quickly go awry when frequency caps aren't established, and visitors who have landed on your website before are overwhelmed with a constant wave of the same advertisement.

It's also important to ensure that your marketing efforts are made with an understanding of the mind of the user that you're targeting. For example, if you're advertising a product that most people would purchase as an impulse buy, then immediate retargeting could be the best approach. However, simply re-serving that ad after a number of days could quickly become annoying to your audience members who are no longer interested in a product. Alternatively, purchases that require a greater amount of thought before the consumer makes a buying decision could lend themselves to a different retargeting approach, perhaps using sequential messaging within certain windows of time.

3. Compare and Contrast Your Opportunities

Media buyers are responsible for appealing to the interests of consumers, but they're also consumers themselves when bidding for advertisement space and locations. With that in mind, it's important to use the same strategies that most shoppers use when it comes to getting the best possible deals. Whether you're buying a new car, or looking for a mortgage, the chances are that you shop around and see what offers may be available to you. The same applies to media buyers.

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Make a shortlist of some of the media outlets that you might use for a particular advertising scheme based on relevancy and success rates. From that list, take the time to research each option and find out which offer the best advertisement positions, and the most competitive rates. Remember, it's not about finding the website or online digital media buying platform that will charge you as little as possible for your advertisement. Instead, you need to find a website that adheres to your budget, while also giving you the results you need. In other words, sometimes it's worth it to pay more for a particular website if it means that you'll end up getting the exposure you need.

Topics: retargeting, Media Buying, Demographic Targeting, Media Buyers

Tim Nichols

Written by Tim Nichols

Tim Nichols is a founding partner at ExactDrive, a digital media buying agency with white label, reseller and managed service options available. ExactDrive plans, manages, and optimizes online advertising campaigns with the objective of delivering measurable value and empowering clients to find precisely targeted audiences. ExactDrive has offices in Minneapolis, MN, Milwaukee, WI and SouthWest Florida.

Tim Nichols is also a contributing author on Forbes.com.

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