If you've got a strong e-mail campaign going but you're looking to improve your direct-response tactics to comprise online ads, chances are you will do some media buying. Why? Because purchasing banner, text or other display ads can be a very cost effective way to attract customers.
As a multi-channel marketer, many of my responsibilities over the years have required me to buy ad space in magazines, newspapers, radio, Tv, and the Web. Along the way, I've become an master (especially with online media), and picked up a few techniques that could save you hundreds, maybe even thousands, of dollars
But before I by comparison further, I'd like to point out that there are differences in online advertising.
You can focus your ad to be direct-response-oriented, which includes lead generation (acquiring e-mail names) and product sales. Or you can focus your ad on branding. Branding isn't direct-response marketing - meaning it doesn't want an immediate operation from the consumer. Its goal, rather, is to build awareness and name recognition of a product over time and help it stay in the minds of prospects. In the offline world, think the battle of the cola giants. In the online world, it's typically video ads like the ones you see for a new car or truck.
Because results are harder to measure with branding, many online marketers lean toward the direct-response model.
Your job as a media buyer is naturally to try to get the best bang for the buck when purchasing media units. It involves allocating money for advertising in assorted outlets, print or online, and negotiating the actual advertising agreement with the publisher. This agreement is known as an Io (insertion order), and will cover the ad unit cost, size, placement, and other considerable components (which I'll address shortly).
Here are some helpful hints to keep in mind when buying media for your sales campaigns.
Hint #1: Keep up with the industry.
Sign up for free business trade papers, such as Dm News, Response Magazine, and Target Marketing, and as many free e-letters as you can read. One of my popular e-letters is Clickz, because it covers the online marketing world in a widespread and dynamic way. I also like Mediabuyerplanner.com, which keeps you abreast of the newest media-buying news, and DoubleClick, which provides some of the marketing industry's best practices, trends, and forecast reports.
One current trend is flash banners. These ad units sustain audio/video use (which engages the viewer and is great for branding), but they are more precious than appropriate flat (no animation) or spicy banners.
Hint #2: Know the ad units.
There are many types of banner ads to select from: leader boards, skyscrapers, buttons, micro banners, and more. You can find a full list of types of ads, as well as business guidelines for how and when to use them, at iab.net. All of these ad units are available on most websites, but not every type is effective.
For instance, it has been my palpate that leader boards (ads that run horizontally across the top of a Web page) or skyscrapers (ads that run vertically along the side of a Web page) are the least effective. The best placements are typically Lrecs - large rectangles, such as 300 x 250 Imus, at the top or middle of a page or within the content. (Imu stands for Internet Marketing Unit.) Putting an ad inside the body of an article is a great placement, since the reader must zephyr over the ad while spicy the content. A recent eyetracking study by The Poynter fabricate supported this observation, indicating that banner ads at the top left of the page, as well as ads close in presence to the body of an article, garnered the most concentration from viewers.
This is where you want your message to be!
Hint #3: master the art of negotiation.
You will be required to analyze many proposals when you're looking for the right ad space. You'll need to determine if the prices are cost effective and comparable to business rates. If you're looking into buying ad space on Cnn, for instance, check out the prices for that same ad unit and timeframe on similarly ranked news websites. Also, check out assorted ad networks to see if any comprise Cnn in their coverage. (For more on ad networks, see Hint #7.)
Since many variables can affect ad prices, I suggest beginning an "ad unit matrix" to keep track of rates. Break down a spreadsheet into columns for ad unit type, size, placement, website, impressions (how many times the ad unit appears on the website), and Cpm (cost per thousand impressions). Click here to se a great tool that absolutely calculates the Cpm for you.
Another factor that can affect pricing is seasonality. Internet traffic typically drops during July and August (because so many people are on summer vacation) and, depending on the business you're in, can be slower nearby the holidays as well. So, when you're negotiating your media buy, try to get lower rates during those times. If you're running near a typically slow time, let's say nearby Thanksgiving, you may want to pause your ad unit the day before the holiday and the day after so you don't waste impressions.
To help ensure that you're getting a comparable rate, check out each site's traffic ranking and page views to see where it stands in relation to its competitors in terms of popularity and reach. It's best to get this facts from a subscription ranking service, like Nielsen//NetRatings or ComScore - but if you don't have way to such services, think the free Alexa traffic ranking website.
Hint #4: Reporting rules.
Make sure, especially if you buy media from an online ad network, that you have full way to the Oas (online ad server) reporting system. Look for key performance indicators, such as impressions served (ad units that ran), and click-through rate (the percentage of people who saw your ad and clicked on a link in it). If you are testing assorted ad units and sizes, each one should have a unique tracking code. If your advertiser doesn't give you way to their Oas, ask about getting daily or weekly reports from your catalogue executive. These reports will be considerable in refining your ad to get maximum results.
As a normal guideline, the average click-through rate for a banner ad/text ad is 0.5 to 2 percent, and the average click-through rate for a dedicated e-mail (an e-mail ad that a third party sends to their subscribers on your behalf) is 7.5 percent.
Hint #5: Know when to hold 'em and when to fold 'em.
In your insertion order, have a clause that allows you to terminate your advertising commitment without penalty at a given time (an "out clause" or "termination right"). For instance, most online campaigns can be optimized in about a week. If you're watching your reporting daily (which I suggest you do for the first two weeks) and consideration that not many viewers are clicking on your ad, then you should switch to a dissimilar ad. If the second ad is not working, you may want to originate your termination right, end the campaign, and pay only for the impressions you were served.
Not all advertisers will offer this option, but you should absolutely ask for it.
Hint #6: There are no slow-witted questions.
If you're buying banner ads or other advertising spots on a website, it's key to find out a few things from your catalogue executive:
--Will your ad be Ros (run of site)? Typically, this means your ad will randomly appear on a site's home page and most (if not all) subpages within the site. This is more cost effective than a targeted ad in a specific section of the site.
--Will your ad position be fixed or rotated (shared) with whatever else's ad? If shared, what percentage of impressions will your ad receive?
--If you're inspecting buying a dedicated e-mail from a third-party, find out the size of their e-mail list, how often the list gets mailed, the Aus (average unit sale) per subscriber, and either or not there will be an introduction or implied endorsement by the list owner. (According to copywriting genius John Forde, this can often help boost response rates by 25 percent or more.) All of these factors will help determine the value of the list and, ultimately, the cost you're willing to pay to way the people on it.
Hint #7: Be on the guard for low-cost options.
If you're targeting a specific audience or a niche buyer, go directly to the website's publisher for an advertising quote. Cutting out the middleman (ad broker) may get you a best rate. Plus, it will help you build a association with the publisher - which can be advantageous for you down the road.
If your goal is to reach the biggest, broadest audience possible, and you want to run an ad on assorted websites that have a clear "channel" or genre (such as entertainment, finance, health, etc.) within the broader subject range of the site, think an ad network.
Ad networks have an agreement with a range of popular websites to serve up their ads, and they can sort by website type. Since they typically buy their ad units in bulk from the publishing sites, the networks can pass the savings down to the advertiser and charge a lower Cpm rate. Some popular networks comprise Advertising.com and ValueClick. You can find a full list at iwebtool.com.
Just remember to get proposals from more than one network. Some of the lesser-known (Tier 2) networks are looking to make a name for themselves, and may offer best rates. But be wary of "micro" sites, which have little traffic or Web presence. Be sure to ask for a sample of the network's site listings. I always go for capability over quantity.
Depending on how many impressions you buy from these ad networks, your average cost for an Lrec can range from to . For blog ads and blog networks, you can often find Cpms lower than or even 50 cents. And if you're looking to save even more money, ask if remnant catalogue is available. Remnant catalogue is naturally an advertising unit that is not as popular as other ad units on a site and is unsold. Depending on your marketing goal, these ad units may accomplish your objective - and to make them more attractive, networks regularly offer them at a lower rate.
Hint #8: Show your poker face.
In this industry, it's all about reliance and knowledge. If you come across as man who is savvy to media buying, you're less likely to be taken benefit of.
Do your homework and succeed some of the recommendations above... But your best lessons will happen as you buy.
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